Could Your Expertise Earn You Extra Money as a Subject Matter Expert?

Everyone’s an expert in something, but can your expertise earn you extra income? Subject Matter Experts — sometimes called Consultants or Coaches — are sought after for their advanced understanding, and can be found across industries, including:

“But, plenty of people have a high-level understanding of those fields,” you might be thinking. “What additional understanding should a Subject Matter Expert have to offer?”

Check out these tips to help you determine if the role “Subject Matter Expert” is a good fit for you:

  1. You should have a documented history of working in an area before calling yourself an “expert.” That means it’s not enough to have studied a field in school or your free time. You should have rolled up your sleeves throughout your career and dug into this particular topic, to understand the challenges, processes, and procedures in a way that gives valuable insight.
  2. You understand the industry’s best practices. And, can communicate those insights to help learners understand.
  3. You understand the challenges unique to the people you’re teaching. When you position yourself as a Subject Matter Expert, it’s important to address the problems, concerns, and desires of those who will lean on your expertise on a regular basis.

Not sure where to start?

A Subject Matter Expert, Consultant, or Coach creates a course within their field of expertise from one of the following angles:

  • Answer a Niche Need Within Your Field

    If, after a few years in your industry, you recognized a knowledge gap, that’s a perfect opportunity for a learning course! For example, a Human Resources professional might create a course on interviewing potential recruits like a pro. Or, a Marketing Professional might create a course instructing how to master Facebook ads.

  • Help People Study for Professional Exams

    Many careers require passing an exam at some point. Maybe it’s the GRE before graduate school, or the CPA exam, or nursing boards. Can you leverage your expertise to create study materials for prospective students?

  • Instruct Professionals on Re-Certification or Continuing Professional Education

    Most professional seek out continued education to stay ahead in their respective fields. As a Subject Matter Expert, you can share the knowledge and resources professionals need to get ahead.

Acknowledging and using your area of expertise to help others isn’t just financially rewarding, it can help open up additional doors. As your reputations as a Subject Matter Expert grows, you can expand with speaking engagements, opportunities to serve on boards, invitations to contribute to various professional organizations — all due to creating your first course.