FreeStuffEngine.com - Knowledge Is Not Power...Knowledge Applied Is Power! By Olivia Stefanino

Chris held the mug of steaming coffee in both hands ? and he grew gradually more animated as he described the various successes he had enjoyed during his five year career as a life coach.

In his early forties, Chris liked the fact that he could combine his previous experience of sales and financial services with his more recent training in coaching. One of the most satisfying aspects of his new career, Chris told me, was seeing his clients achieve their long-term goals.

However, Chris was beginning to feel frustrated as his own business, while successful, was not as prosperous as he believed it could be.

Talking with Chris, it soon became clear that he had fallen into the trap that bags so many coaches and consultants. I told him of the maxim my grandfather had taught me when I first started working for myself more than ten years ago.

?There is a limit to how much money you can earn,? my grandfather had told me, ?but no limit to how much you can make.?

I suggested to Chris that he was at the stage in his career when he needed to take a little time out to work ?on? rather than ?in? his business. While he was working very hard each day, he was busying himself swapping his time for his clients? money.

However, if he wanted to make a successful business ? rather than merely be self- employed ? then Chris needed to create some mechanisms for earning money even when he wasn?t working.

Chris looked bewildered. I explained that he might start thinking about ways to make ?knowledge-based? products - using the unique skills, talents and techniques that he had amassed over the years.

Together we brainstormed several ideas. Chris particularly liked the idea of writing a ?tips booklet for top salespeople? ? which he could sell at the back of the room when he was giving talks. And, by making the product visible during his coaching sessions, clients might also buy the booklets for themselves or as gifts for friends.

But there could be greater dividends still, I told Chris. For example, by tailoring the contents of the booklet, he could contact companies that specialise in financial services and persuade them to buy his product to help their salespeople become more successful. By making bulk sales, Chris could seriously enhance his wealth ? with minimum effort.

The beauty of making knowledge-based products, Chris agreed, is that the hard work is only done once! The real money comes through replicating the product ? which is a relatively cheap process. Indeed, as Chris pointed out, if he were to sell his booklets on the web, he could get customers to pay to download his knowledge ? without the transaction costing him a penny!

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added July 9, 2006 Chris held the mug of steaming coffee in both hands ? and he grew gradually more animated as he described the various successes he had enjoyed during his five year career as a life coach. In his early forties, Chris liked the fact that he could combine his previous experience of sales and financial services with his more recent training in coaching. One of the most satisfying aspects of his new career, Chris told me, was seeing his clients achieve their long-term goals. However, Chris was beginning to feel frustrated as his own business, while successful, was not as prosperous as he believed it could be. Talking with Chris, it soon became clear that he had fallen into the trap that bags so many coaches and consultants. I told him of the maxim my grandfather had taught me when I first started working for myself more than ten years ago. ?There is a limit to how much money you can earn,? my grandfather had told me, ?but no limit to how much you can make.? I suggested to Chris that he was at the stage in his career when he needed to take a little time out to work ?on? rather than ?in? his business. While he was working very hard each day, he was busying himself swapping his time for his clients? money. However, if he wanted to make a successful business ? rather than merely be self- employed ? then Chris needed to create some mechanisms for earning money even when he wasn?t working. Chris looked bewildered. I explained that he might start thinking about ways to make ?knowledge-based? products - using the unique skills, talents and techniques that he had amassed over the years. Together we brainstormed several ideas. Chris particularly liked the idea of writing a ?tips booklet for top salespeople? ? which he could sell at the back of the room when he was giving talks. And, by making the product visible during his coaching sessions, clients might also buy the booklets for themselves or as gifts for friends. But there could be greater dividends still, I told Chris. For example, by tailoring the contents of the booklet, he could contact companies that specialise in financial services and persuade them to buy his product to help their salespeople become more successful. By making bulk sales, Chris could seriously enhance his wealth ? with minimum effort. The beauty of making knowledge-based products, Chris agreed, is that the hard work is only done once! The real money comes through replicating the product ? which is a relatively cheap process. Indeed, as Chris pointed out, if he were to sell his booklets on the web, he could get customers to pay to download his knowledge ? without the transaction costing him a penny!
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