T. Harv Eker breaks down three ways to monetize what you know: teach a skill directly, curate others' expertise, or broker connections and split revenue. Shanika trained in real estate, replaced her income in six months, then launched a paid mastermind for other moms. About 1,800 millionaires are made per day in the U.S., many through the knowledge economy.
Questions this video answers
February 20, 2020
Expert; Reporter; Knowledge broker (partner).
About 1,800 millionaires are made per day in America (speaker's claim).
One of the big blocks for people I know is like, I'm not an expert, I'm not, I don't have knowledge to extract. But I know that there are three different levels. There's an expert, there's a reporter, and there's a partner. Can you elaborate on those really fast so that people can identify with what feels good for them?
So here's what I said. More people have knowledge than they realize. Okay. Right. We have every. Like I think of Shanika, this is a girl that was, by any means you would think she was successful. Her family did, right? She went to college, she got good grades, she got out, got in the finance world, had the mid sized BMW, amazing husband, four kids, working every day. But in her heart she wasn't successful because every day she had to drop her kids off at the bus stop and not even wait for the bus to come. She said every day she drive for an hour thinking, I hope they got on the bus, I hope they're safe. And she said, I just knew there was more for me. And she went out and said, I'm going to figure out, this is before me. I'm going to figure out how to do something different to get out of this job. Well, she studied crazy for a few months and did real estate. She learned how to do real estate on her own. She got a mentor and in six months she was able to replace her income. She quit. So now she's only six months in, right? Six months in. She decides, I'm a mom now of five kids. I was able to quit my job. There's other moms like this. And she saw kbb. She got enrolled within three months while she was pregnant. She launched her first mastermind, teaching other moms to do what she did. It was crazy. She had 125 women show up. They thanked her. I mean, she said the biggest breakthrough is they're thanking her and sending her flowers for changing her life. And that's, this is like, that's why it's gone viral, right? Because people are realizing. So if you really think about that, she wasn't in real estate for 20 years, right? She was a reporter of someone else's knowledge, right? She didn't know how to do it. She learned knowledge, gained it and then taught it. So the three levels are simply this one. So many people have an expertise, a skill, a passion that they could share with somebody. We teach you how to extract it. The software helps do that, create a flow, an agenda, and how to track somebody that wants it. That's what the majority of people do, even people who thought they were an expert. Okay. The second is the reporter. If you think how Tony started, he reported and talked to people about Jim Rohn's stuff. He did that on sales. If you look at Tony's book, Money Master the Game, he's not the financial guy, but he interviewed the top financial guys on the planet, extracted their knowledge and teach it to people. So I don't want to oversimplify it, but if there's a niche like you that you're passionate about, you're passionate about personal growth, you can gain that knowledge and report on it to other people, right? The third is a knowledge broker. And a knowledge broker, a knowledge consultant is what we're going to call them now is basically what you do is you're not the expert yet, but you can follow everything in the course to fill a room up with people who cut a check. You take half the money and you put the expert on stage, they take the other half of the money. There's a win, win. Everybody wins. But if you do that long enough, do you become the expert? You do, right? And here's the thing. There's a million ways to make money, right? In today's world, we live in such a great time to be able to make money. There's more millionaires made every day now. 1800 millionaires a day in America alone, What, than ever any other time in history. But how cool is it instead of selling a widget or just doing things, you have the ability to literally, I mean, I'm not just saying this is like a sales pitch. Like, you have the ability to impact people's lives. You have the ability to course, correct. Take a painful situation you went through that you learned from and allow someone not to go through or get out of the pain. Have a business that you learned how to sell, how to cut hair, how to be an accountant, any niche that you're in. We have a girl who's doing painting classes with alligators. Like, what is that? But she learned it and she gets people to get really peaceful in the zone, and she's killing it doing this. So the third is you could partner with somebody with knowledge. So not to make this for everyone, but if you're someone listening or watching and you desire another level, you want to transition out of something you want that's not, you know, filling your heart, you want to impact people's lives. I don't know anything better in the world than this, but for the last year, whenever I get up on stage, I said, if you have two choices at the end of your life, you had a great life and you only have one or two things. You can make massive amounts of money or you can make a massive impact on the world. Who would choose money? Zero hands. I said, who would choose impact? Everyone. And I always say, leave them up if you'd like to do both. And everybody's like, yeah. And that's really what we get to do being in the knowledge industry. We get to help people go faster, we get to see them smile, and simultaneously we get money.
