One of the fastest-growing industries is the e-learning industry, which is expected to grow to $1 trillion by 2027.

Do you want to become a part of this industry and generate income online and monetize your knowledge?

With the amazing advances in technology, it's easier than ever to search, deliver and sell knowledge and information.

Hundreds of thousands of edupreneurs are monetizing their knowledge 24/7, which is an amazing advantage over the established and now old-fashioned way of education. Whether you are asleep, on vacation, or already working on another project, there is a constant flow of income.

And if you do it right (morally and legally!), you can change people's lives. If you are one of those people who want to help others grow, this is the place for you!

There are numerous ways to monetize your knowledge and expertise:

1. Start A YouTube Channel.

Do you have a special skill or hobby? Then put it into a video and share it on YouTube. YouTube is the second most popular social media platform with 1.9 billion users. Every minute, 500 hours of content are uploaded! This shows a huge hunger for information and education. Here you have the opportunity to build your audience quickly if your content is tailored to your audience. Plus, you can then spread your knowledge around the world.

2. Become A Podcaster.

As of June 2021, there are over one million podcasts and over 48 million available episodes. Podcast listeners subscribe to an average of six shows and listen to seven different shows per week. Comedy, education, and usage are the most popular podcasting genres. (Source: podcasting.org)

For some, listening to a podcast is easier and more convenient than watching a video. Three in four podcast consumers in the U.S. say they enjoy listening to podcasts to learn new things.

In 2018, marketers spent $479 million on podcast advertising, and that's projected to grow to more than $1 billion per year by 2021 (Source: eMarketer).

Six Different Ways You Can Profit From Your Podcast Show:

1. Podcast sponsorship: If your podcast targets a very specific niche, you could be sponsored by a company and paid by downloads.
2. Relationships: By interviewing experts in their field, you build a relationship that can lead to a partnership that can be monetized.
3. Increase sales of your products and services: If your products and services are related to your content, why not share them? And then give your audience an exclusive discount.
4. Coaching: You may consider that instead of promoting your services on social media, you share them with your own podcast audience. Turn your listeners into subscribers and then offer a free 30-minute session.
5. Affiliate marketing: If your show is more technical and feature-oriented, you can openly share about it and receive affiliate commissions. You can generate passive income this way.
6. Books and audiobooks: As a podcaster, you've spent hours creating quality content and giving it away for free. Continue to use that content and create additional products from it. For example, combine your key takeaways with your interviews and put this into your new book or e-book, combined with new content.

3. Become An Online Teacher Or Trainer.

Having expertise and knowledge in your field already sets you apart from all the millions of others who don't. If you have the will and motivation, it is your duty to share this with all the knowledge seekers out there. All you need to do is start a webinar. There are numerous platforms that can help you easily create a course. You can do this for free at first, and once you build an audience and understand what they really need, you can use it to generate income.

4. Become A Blogger.

Some people would rather read than watch a video or listen to a podcast. You can reach this audience by sharing your knowledge and expertise through blogs. You can also become a guest blogger by creating content for other sites to increase your visibility.

5. Organize And Host Summits.

Especially since the pandemic outbreak, the demand for online events has grown significantly. By gathering the best in your industry, you make it very easy and convenient for attendees to gather the best information in one place. In addition, you build strong bonds with the speakers at your summit.

You can monetize by offering different entry levels and follow-up programs. Don't forget the power of building an email list to follow up and offer your future products.

5. Create An Online Community.

All the above tools will eventually lead to building a fan base and increasing your following. They do this by helping you build an online community. The easiest way is to open a Facebook group. There are many other platforms that have additional features to allow your community to socialize, learn, and monetize your work.

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The Bottom Line

By demonstrating your industry knowledge or even sharing your hobby you can start earning some extra income and/or building your business. It's now easier than ever to build a group of followers and by this building your brand.

As you can see there are numerous ways to build an additional online revenue source for your as an EdupreneurWho. It is not a get-rich scheme where you can monetize your expertise overnight. But lots of these approaches can become evergreen and this will lead to a passive income stream for years to come.

Building your edupreneurial business on different pillars is a wise move and will stabilize your business strongly.

Discover how you can tap into a 250 billion knowledge-based industry that is forecast to grow 21% over the next four years. Learn more here

Photo by Adeolu Eletu on Unsplash