You’re Worth More Than You Think: Turning Talent Into Profit

Got talent? Each of us has at least one thing (if not more) that we are good at — sometimes extraordinarily so. It may seem mundane to you, but odds are it’s something others envy and many may even pay for. 

If you have recently lost your job or are feeling disenfranchised with your current unrewarding position keeping you at a financial standstill, it may be time to do an “internal talent inventory.”

Weigh your job against the demand for what you do well and take action to turn it into a profitable and rewarding endeavor.

Perform a self-assessment

Many people are good at and enjoy more than one thing. You can simply list your talents, experiences as well as skills and choose the ones most enjoyable that can be marketable.

Another strategy is using categories which help streamline your marketing. For example, if you are fluent in another language, you can market to organizations that need bilingual services.

If you love animals, you can market yourself as an animal care provider. Detail all your expertise which could include dog walking, veterinary transportation or even wildlife rehabilitation and relocation. Using these tactics Other examples include:

• Writing. This is a very versatile skill, so you can specify what type of writing services you offer: speeches, corporate brochures, marketing copy, website copy, online content, or film and video scripts. Include any extras such as translation services.
• Transcription services. If you are an accurate and fast typist, check into professions that need transcription services. Legal professionals often top the list, particularly solo practitioners or smaller practices. But other professionals and even students also benefit from this service.
• Domestic services. Are you fanatical about keeping your house clean and find it rewarding? Do you love cooking, or meal prepping? Do you love kids? In an era of busy families, you are likely to find one that can benefit from — and is willing to pay for — your domestic talents.
• Transport and delivery. Maybe you love driving more than deskwork and have reliable transportation. If so, get those wheels turning a profit by offering transportation or delivering goods, from groceries to legal documents.  

Have fun but be smart

Even though a huge benefit of your new venture is to enjoy yourself, you still need to operate professionally and sensibly. Any time you offer products or services, you open yourself up to potential liability that can harm you personally.

One way to protect yourself is to form a limited liability corporation. The rules vary by state so you should familiarize yourself with the process or use an expert formation service. Also, perform an insurance checkup to make sure your business activities are covered.

Finally, don’t be afraid to toot your own horn. You may not have a huge advertising budget, but a few satisfied customers — and perhaps a referral incentive — can help propel you to success. And as your experience grows, keep your resume updated. Know your worth and make sure others do as well!