While it’s important to have the expert mindset, you’ll only make money from your expertise if it’s something people are willing to pay for.

So, while Step 1 of this series on More Profit from Your Expertise was about identifying areas where you have expertise, this one is about deciding which of those areas have the potential to make you money. The keys to this are:

• Do people want it?
• Are they willing to pay for it?
• Is there a reason to buy it from you?

This is an important step that is easy to miss out, especially if you are fairly clear about your areas of expertise. However it’s worth investing some time in it as it will not only prevent you making the mistake of going into the wrong market, it will also help you make your marketing more effective.

What do people want?
People are generally willing to pay for something if it does either of the following:

• Solves a problem that they know that they have.
• Makes an improvement that they already want in their life, for example by becoming happier, richer, safer or more satisfied.

This applies whether you are selling to individuals, to business owners or larger organizations. So you have to think about how your expertise satisfies these requirements.

While you may already know this from your own experience, it’s also useful to validate it through some formal research. One way to do this is by using an Internet search engine like Google, even if you are not marketing primarily online.

First it forces you to think of your proposition in terms of what the customer is looking for.

Then it will enable you to know more about the levels of demand.

Think about what people are looking for in that field and then brainstorm a list of words that they would use to search for information about it in Google.

For example, if you are a life coach – in addition to the obvious search terms using the words ‘life coach’ – you should think about the outcomes people are looking for. So it might include things like:

• Getting out of a rut.
• Starting a new career at 45.
• Rebuilding confidence in myself.

When you have brainstormed a list, the next step is to check some of these keywords and see how often they are searched. You can do that using this free Wordtracker online tool.

If you find that not many people are searching on these keywords – or you can’t identify anything that people would want to search for, you may need to rethink your proposition.

Provided there is evidence that people are looking for the type of solution you offer, the next step is to make sure you can satisfy the demand at a price they are willing to pay.

Are they willing to buy?
In order to understand more about this, you can again use an online search engine like Google. Simply enter some of the keywords that you see as relevant, then look at the websites that come up in your search.

Look also at the paid-for advertising that usually shows along the top or down the right of the search page. If there are several advertisers, this implies strong demand.

That process will also give you some idea of what is currently selling and what prices people are charging in this market.

Of course, depending on your business, you may already have some of this information.

Explaining Your Service
Even when you know there is a market, the next key is to be able to explain it to people in a way that is appealing and makes clear why they should buy it from you.

So you need to think about what the outcome will be for them of buying your expertise. You need to consider the result they will get rather than the process of what you do.

You also need to have a reason why they should buy it from you rather than someone else. So think about what makes you or your service special or unique.

To do this, you need to be able to sum up in a few words why they need your service, why it will be worth their time and money and why they should buy it from you.

In the next Step, we’ll look at why writing is one of the most important skills you can use to get your message across. We’ll cover techniques to overcome the reluctance many people feel about writing and some tips to make it easier, faster and more effective.

Defining the right proposition is key to success in selling your expertise.

These six questions will help you determine how well you have defined your proposition and whether there is a market for it.

• Who exactly are your ideal customers?
• What problem do they have that you are able to solve (or what opportunity/benefit are they looking for)?
• What is wrong with current solutions that you can put right?
• What will be the benefit to them of paying for your expertise?
• Why should they buy it from you rather than someone else?
• How do you know they want to buy it?

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