Today I am going to talk to you about the wisdom exchange. If you want to be financially independent, you can do so by trading on the exchange. Do you know how people become wealthy trading in stocks and bonds?
Well, you can become more prosperous trading on the wisdom exchange.
So my idea came from a bible scripture in the book of Proverbs. Proverbs 3:13-15 to be exact, which reads like this
Blessed are those who find wisdom and gain understanding. For she is more profitable than silver and yields better returns than gold.
Think about that.
Wisdom yields better returns than two of the most precious metals on earth.
Wisdom is knowledge applied. If you know a bunch of things but never implement them, it won’t profit you because it’s not wisdom.
Wisdom is a long game. People are trying to win the short term, but the long run is where the wins usually happen.
Perhaps you are struggling financially right now.
Here is what you do to change that:
Learn one new thing about money a day and start applying it. This can be learning about investments and investing real money. Or learning about budgeting and writing out a budget. If you don’t know about money, there is much to learn. Applying one new thing a day will keep you very busy. Sites like Investopedia, Smart Money, and From Pennies to Pounds are great places to start.
Make a wisdom inventory.
What are the things you know how to do? It can be anything from baking a pie, to washing or fixing a car, to building a website to operating a piece of recording equipment. Don’t be shy. You probably know how to do a lot of stuff. Ask friends and family what is something you do that they would like to learn is? Ask them.
Take one thing off that list and write an ebook. Take notes and write them in the instruction form. If you don’t feel like doing that, ask a kid or someone who isn’t working to do it and give them a few dollars.
Once the instructions are in an easy to understand format, go to fiverr.com or download the app to your phone.
Type in ebook writers on the site. There are TONS of people who will write your ebook for $100 or less. (One hundred dollars is an amount of money you can make driving Uber, taking the trash to the landfill, raking leaves, shoveling snow or cutting grass.)
Find a writer with relatively good reviews. Make them sign an NDA (Here are some examples). Let them do the magic
Read over for typos, omissions, etc. Once everything looks good. Finalize it.
Congrats, now you’re an author. Now is the time to sell it. Post it on social media and talk about the book.
Do FB lives about some of the components of the book. You can distribute the book on Amazon Kindle, Etsy, and Apple Books for starters .
Directions on how to upload it to Kindle are here. You can also hire someone to do that for you too.
Or you can sell the book from your website. Don’t know how to build a website?; Some folks can help you do that too!!
Congrats, now you are in the wisdom marketplace.
Now, how do you get someone to invest in your book?
First, you have to get their attention:
Which means you have to start talking the language of the person you are selling
This is where Google Suggest comes in.
If you go into Google Chrome and start typing how to build a website, pay attention to what comes up
There are multiple topics to start your marketing copy.
People are actively looking for these search phrases. It also means potential customers. You don’t want to sell something for which you have no customers.
Now, if people are searching on Google, they are likely searching on YouTube as well. So you have an opportunity to connect with them there.
Think about getting a customer like getting someone to date you. Playing it shy will probably mean being alone.
So you need to find ways to get their attention. Facebook ads are a great way to do that, and they are still cheap.
When people like your ad, you can then message them for more information. The person liking the ad is a warm lead because they have expressed interest in what you’re selling.
You don’t have to buy ads, but it doesn’t hurt.
So our initial goal as $1000 a month.
Your book is done.
You need 40 people to buy your book to reach that $1000 goal.
That means we need to find 400 people. You can buy ads to find that 400, or you can do it organically through social media engagement.
You have to state the specific benefit your book provides.
Why would people buy a stock? It’s simple. They are acquiring it to make money. They are buying it because they hope that the value of the stock increases. That is it. There are no other significant reasons.
Most stocks go up 5-20% each year. You don’t have to convince people to invest in a stock.
That’s because the investment is sold as being safe.
Investment companies sell their products well.
It doesn’t mean that it’s always the best investment, however.
Let’s say you are writing a book on building your own Squarespace website. Squarespace is a website building tool for people who aren’t super technical. But still, the average person might need help working with it.
So, you decide to show people step by step how to do it.
Now designers can charge anywhere from $200-$5000 to build a site.
There is a large segment of people who can’t afford that, especially on the higher end.
These folks are seeking a more cost-effective alternative. You can write the book and then make a companion video that only people who buy the book can access it.
So now your book becomes an offer. You can make and upload a video and make it private. Here is a short video on how to do that.
In general, people are way more motivated by making money than saving it. Saving money is a temporary desire; making money is a more constant desire. By showing them how to create their website quickly, you are empowering them now and in the future.
In the marketing portion, remind them how much web developer costs. And then assert how much cheaper is buying this book.
Your book is not about winning a Pulitzer Prize.
It is an investment.
If they invest $1000 and sell $100 worth of product, was it worth it? No. That was a bad investment.
If they invest $25 with you and sell $100 worth of product, that is 400% ROI.
Now I have to say, you have to be pretty bad at marketing to only sell $100 of anything in a year.
You have to illuminate the investment example to the customer.
This is the purpose of your copy. Boil everything down to dollars and cents because that is the way your customer thinks.
Saving money is important, but not as much as making money in the eyes of most people.
You make money the same way a stockbroker does. You sell a product with the promise of returns. Your job is to deliver value far beyond the $25 asking price.
Try this method out and see if it works for you!!!
Let me know in the comments how it goes!