5 Ways to Monetize Your Knowledge for a Successful Start-up in 2019

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The business landscape is constantly moving and evolving, presenting an ever-changing array of new opportunities for those who are willing to take them. Specifically, this is the age of the knowledge economy. What you know could be the key to a successful business of your own in 2019, and without the need for any significant financial outlay. Don’t believe it? Here are five examples of how knowledge can be translated into cold hard cash.

Training courses

If you need evidence of the value of knowledge, keep in mind that there is always the need to learn something. Sharing professional knowledge about the evolving business landscape is about more than just IT. Accountants, auditors and lawyers also operate in environments where rules are constantly changing and there are new tools to help them improve their work efficiency.

If you decide to pursue this direction, you don’t need to invest much. Basic wordprocessing and presentation software along with a high-performance printer and high-capacity ink cartridges will set you on the road to success. As far as the latter is concerned, choose a familiar brand such as HP, and you will find you can get HP 301 ink cartridges to go with it online at greatly reduced prices.

Accounting, audit and consulting

Whatever is going on in the world, businesses will always need specialist services in finance, audit and tax advice. In this age of outsourcing, many managers prefer to use external specialists rather than employ accountants and auditors on the payroll. Trading on this type of knowledge allows you to work remotely, meaning immense savings in time and commuting costs. You don’t even need start-up capital.

Creative home-made produce

Bespoke home-made products have become very fashionable and home-based business allows you to make money doing the activities you enjoy most. This type of business is especially convenient when you don’t have the start-up capital to invest in infrastructure for the business. The world of cooking and baking is a prime example. From specialist cake baking to providing meals to other businesses, there’s always money to be made from food. Just make sure your kitchen meets the essential hygiene requirements for commercial activities.

Car repair

If you’ve always loved tinkering with cars, it’s a simple matter to start up in business, either from home or even as a mobile mechanic. To get started, all you really need is a good toolkit and a van. You’ll also need to invest in diagnostic equipment and software in order to communicate with the ECUs in modern cars.

Tutoring

The thirst for knowledge in the modern world means that tutors are in demand like never before. Many people are turning to a career in teaching and tutoring later in life, and with demand outstripping supply, there are grants and incentives available to get you qualified. As a tutor, you can work on your own terms and to your own hours. The main thing for you is to know your subject well and be able to convey your knowledge to your students.