Share What You Know, and Get Paid for It

Whatever work you do, you have knowledge, experience, and skills that are of potential value to others. You may be able to communicate it — and make money in the process.

I did. For more than 30 years, I was a freelance advertising copywriter, working mostly for publishers. While writing generated most of my income, I had several lucrative sidelines. You might call them “presentation activities.” They included: 

• Public speaking: I spoke at industry conferences, professional seminars, trade lunches, and similar events.
• Corporate training: I taught and coached at client companies, helping staffers sharpen their copywriting and marketing skills.
• Consulting: I showed publishers how to get better results from their direct-mail campaigns.
• Critiquing: I evaluated companies’ advertising and suggested ways it could be improved.
  

For each assignment — and most didn’t require a lot of time — I charged between $2,000 and $10,000.

But I’m far from alone. Others, in numerous fields, have done it. I discovered how pervasive this phenomenon is while researching my new e-book, The Versatile Freelancer. I interviewed scores of people who successfully made this transition....

A career counselor became a consultant and corporate trainer. A psychotherapist morphed into a wildly popular speaker at business gatherings. A travel writer gives travel writing seminars. A book editor critiques manuscripts for authors, and is so busy that he has a waiting list. An employee quit his job, turned his former employer into his first client, and wound up making twice his previous salary — for one fourth the time.

The Versatile Freelancer by Don Hauptman

Consider a friend of mine. For a while, he was well compensated by a major airline — for teaching its mechanics how to write better! Who would have guessed?

This example demonstrates that hidden opportunities lurk in the most surprising places. You just need to exercise some imagination and creativity to ferret them out.

How do you begin? Try this three-step procedure. For best results, do it in writing.

1. Take an inventory of your background, experience, skills, achievements. Do you have a track record of proven abilities — for instance, increasing profits, cutting costs, solving problems, coming up with innovative ideas?
   
2. Determine who might pay you for that knowledge. Think about companies or organizations where you have contacts, or others you can research.
   
3. Match your expertise to the market’s needs and approach your targets. Submit a proposal. If you know the appropriate executives, you have an edge. Cold calls are tougher, but not impossible.

Stage fright? No problem. To do these things, you don’t need to be a spellbinding speaker. I’m not, yet my presentations were always well received. How come? What’s most important is the quality of the content you deliver.

Aside from money, presentation activities bring you numerous rewards. You win applause and acclaim. You have the satisfaction of helping people, especially younger colleagues in your field. You’re stimulated and energized, especially if your regular work has become boring or routine. You might have opportunities for expense-paid travel, possibly worldwide. You experience all sorts of valuable contacts and synergies.

Finally, this strategy gives you some “insurance” against a recessionary economy. Even in today’s scary times, many people who have diversified professionally report that they’re as busy as ever — and sometimes even more.

Why is this true? The answer is simple.

When you’re diversified, you have a wider portfolio of skills and services to offer. You have not just one source of revenue, but what entrepreneurs call “multiple streams of income.” If one declines, another can take its place.

And there’s another reason. In tough periods, companies trim their staffs or don’t hire as they normally would. An outside consultant or trainer, a one-time project, a lower-priced service — these can be attractive options. You’re also in an ideal position to promote yourself via appearances at industry events. When people are desperate, they’re eager to hear solutions.

Of course, limits exist. According to a Wall Street Journal article, no industry or profession is 100% recession proof. But expanding the range of skills and services you provide may come as close as possible to the perfect strategy for protecting yourself in all types of economic climate.

Don Hauptman, a longtime Objectivist, is a writer based in New York City. This column was adapted from his just-published e-book The Versatile Freelancer: How Writers and Other Creative Professionals Can Generate More Income by Seizing New Opportunities in Critiquing, Consulting, Training, and Presenting. It contains complete details on how to diversify into these rewarding sideline activities. The book comes with a free bonus report and a 100% money-back guarantee of satisfaction.