Hello ,

As promised...

Starting today I'll be spending sometime this week...

Sharing a few ideas about how you can start to bring the power of recurring in into your business.

But before we get into all that...

It's important for you to have a grounding in a concept that I learned a while back from Robert G. Allen in his book "Multiple Streams of Income".

That's pretty much the book that launched me into this field...

And the concept that I'm referring to is called The Five Rings Of Riches.

Here's how it works:

Ring 1: You develop a core expertise.

This could be expertise you have developed as a result of your career or expertise that you license from someone else.

In the case of the lovely lady who asked the question about creating consistent income during our first Askmeanything session...

Her core expertise is doing make up and she's pretty awesome at it.

Ring 2: Teach others specific how to strategies from your core expertise

So first you develop a core expertise...

Then you teach others how to succeed at your core expertise...

Now there are 6 primary ways of delivering your core expertise profitable:

1. Speaking ( virtually or in person for a fee or to sell something else.
2. Authoring (Books, videos, audios, digital products, courses etc)
3. Training (workshops, programs)
4. Mentoring (Management consulting, apprenticeship programs etc)
5. Facilitating (retreats, mastermind programs, MCing etc)
6. Coaching

These ways of delivering your expertise can be further broken down into specifics but that's a conversation for another day.

Here are a few though:

Book Author: Selling information to other publishers

Desktop publisher: Self-publishing for yourself or others

Seminar promoter: Selling information in seminars

Public speaker: Selling information from the platform

Newsletter editor: Selling info in periodic format

Software programmer: Selling apps and software

Personal consulting: Selling personalized, one-on-one info

Professor/teacher/trainer: Education, corporate, public

Freelance writer: Selling info in magazine articles/blogs

Media expert: Informing those who inform others

Talk show: podcasts, tv shows, webshows

Magazine publisher: Packaging info in magazine format

The main thing here is to understand that there are more than one ways to take your expertise to the world...

Most of us don't actually explore everything that's possible.

Ring 3: Go from specific knowledge to general knowledge

IN other words...

Use your specific expertise to teach general success principles.

So in the case of our Make up expert...

Not only can she make money from teaching make up...

She can also step out into the following spaces as a result of her 7years+ experience as an entrepreneur:

Success Trainer—General Subjects

Success and motivation

Leadership

Goal setting

Time management

Stress

Business Consultant—General Subjects

Running a successful micro business

Entrepreneurship

Social Media Marketing

Strategy

Ring 4: Selling relevant things to your audience

There's so much potential in this.

Back when I actively built the facebook group...

I represented an online payment solution that I promoted to my audience.

I made a modest predictable income by simply referring people to the payment solution.

Ring 5: Offering support services to other experts in your field or outside your field

This is about focusing on helping others in your field or other fields become better based on what you have learned...

That's pretty much what I do on HPEN and it's a killer profit generator if you what you're doing and if you get your timing right.

It's a highly competitive space these days.

Understanding the 5 rings of riches in the expert space is vital to your success as an expert...

Why?

Because as I shared yesterday at PUSHING THROUGH BOUNDARIES...

Entrepreneurship is about moving resources from areas of low productivity to areas of high productivity...

Sometimes...

The primary barrier to creating consistent recurring revenue is putting yourself in a box as far as delivering your expertise is concerned.

I'll share more about this in the coming days...

But tomorrow...

I dig more into the core 5 things to focus on when building recurring revenue.

And if you're game for something even more tactical...

Join me in person this Saturday at Shine for an investment of just N35,000 to be a part of the full day workshop here in Lagos.

Interested?

Please call 09086786515 0r 09086786516

Till tomorrow...

Play a bigger game than you've ever played before.

CTM

PS:

I have spots open for the 97day challenge in January 2022 right now. 

The goal is to help you create, sell and deliver a high ticket transformational program at the $3k, $5k and $10k+ levels and ultimately lay the foundation for bringing $10k a month in revenue.

Think you might like to join us? 

If you'd like to lock in your spot at an early bird rate of N650,000.

Hit reply and let me know. If you reached out yesterday...I'll be in touch today.

NOTE: This early bird offer ends October 31, 2021.

PPS:

Wanna learn how to build a profitable and sustainable coaching practice? Shine Lagos comes up on October 2nd 2021, if you'd like to join us or want to secure a seat for someone...please call 09086786515 0r 09086786516

PPPS:

The Brand Acceleration Workshop comes up in October.

Specifically October 4th to 8th 2021.

For $100 or N50,000...It's pretty much the best marketing/sales training experience for coaches, consultants and trainers this side of the world.

CLICK HERE TO BOOK YOUR SEAT

If you'd like to be an affiliate and get rewarded with a 50% commision for helping someone improve their business...

Hit reply and let me know so I can get you all set with an affiliate link.

If you've already reached out to me...be on the lookout for notification from Selar today.