Opinion

Monetizing Your Talent

monetize your talent

To earn an income, either a salary or profit for your personal business you MUST exchange VALUE for MONEY

So what is value? This is what is appreciated by the person who see it as relevant

People value different things even to the extent that we may want the same things but at different times. This means that; I may want a chicken sandwich for breakfast and therefore I will go to a drive through breakfast place but you may want chicken sandwich for dinner and prefer to seat in an eatery to have it.

This differentiates what I value from yours and that means we may require 2 different people to provide what we value or on the flip side one of us will not have what we want when we want it and someone would not make money.

Monetizing your talent is way more than just being good at something and selling it. It involves all the “wh” questions; why, where, who, when, where and how.

If you can justify “why” you are doing what you are doing then you have a good start. And yes, money can be your reason for doing what you are doing but it must be compelling enough to keep you going. For instance, I can sing! Question: do I release an album? Or do I back up an existing singer? Or do I just work in the industry?

In this instance the “why” will help you pick your choice. By this I mean, you have to understand everything that involves being either of these roles to know if you can go through that process.

I believe everyone has something to sell but answering the “wh” questions will help you decide if you will or can sell it.

I spoke on this topic a few weeks ago and it was for movie makers who were learning to use their smartphones to make movies. This is an excerpt of what I said to them;

I said; “What if all of us decide to do feature films tomorrow with what we have learnt, how many of us will be successfully recognised?” We agreed on a high 25%.

This seemed unfair but that’s how the world works. When people all do generic work only a few get recognised. Most of the time being different is what would make you money. Doing what everyone is doing but doing it differently.

So I asked them, what can you do that hasn’t been done before with the smartphone? Silence 😊

Let me share 2 ideas I have given to my clients that I shared that day;

1.A young lady came to me with a dream of being a photographer but it seemed no one will give her work because she was “omo kekere” (small child) and I told her to give herself 3 months to work for free and she will become a millionaire.

How? She asked.

I told her to go to high profile weddings and events and take pictures for free and put her signature and number on them and before long she was appearing in top-notch magazines and other platforms for free through those she gave free photos.

2.A wannabee makeup artist came to me about growing her business but throughout she kept talking about the model’s outfit clashing with the makeup. So I told her instead of working with makeup why doesn’t she dress the models to make the makeup pop?

Now she’s doing her thing like she owns the market😉

Let me tie this up here;

1. It is what you can do and become great at (or pay someone to be great at *ask Henry Ford)
2. It is how you do it that would position you strategically as unique and needed
3. Everyone loves some innovation. Ask Richard Branson
4. Don’t ignore anything. As an entrepreneur everything counts
5. Offer free services in places that would give you exposure (I’m doing this and some of you will require my services and pay for it)
6. Always exchange what you want for what you can get at the time
7. Look to tie what you can give with a need. Become a solution provider and people will pay for your solution
8. Find those who have gone before and see what they aren’t doing that you can do. Read the stories of “uber” and “airbnb”
9. Be audacious. Tell people they need what you have. Bluff is you have to because confidence sells
10.Get great advice. It will save you a lot of money

 

BY

Joy Ihotu, consultant and founder of the “Scratch Board” and the “Jewels Network”, Public Speaker and Writer.

Comments (2)

  1. Good to have a blog that talks about real issues, kudos to the blogger, keep on the good work…

  2. WOW!

    I don’t know about others but this article just kick started a machine in me to not relent or give up on my project.

    Points 1-10 have just become my morning and night repetition ritual.

    Thanks @joyihota
    Thanks @wanbaba.com

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