Updated: Dec 25, 2020
The dictionary says that “a marketable skill refers to a skill that can be sold in the marketplace for money.” For example, if you have gone to school or learned through self-study how to be a skilled baker, and you know how to make an adorable wedding cake, you can sell the recipe for the cake, the steps to make the cake, the lessons to learn cake making, and you can even sell the cake.
When you look at your expertise, it’s a good idea to figure out which areas are most marketable before you get started. The best way to do that is first to identify your expertise and how you can make money from it.
Write Down Your Expertise
It would be best to write down what you are good at doing, better than someone else. Better than a large enough audience that can buy from you. For example, if you are an expert at setting up databases, does anyone need you to do that? Does anyone need to know how to do that themselves? Your expertise can be in anything—organizing, parenting, breastfeeding, baking, life coaching, and so on.
Whatever you are an expert in, write that down so that you can now brainstorm ways to monetize your expertise.
Can You Create Paid Products from This Expertise?
From your expertise, can you write down a list of paid products? You can create both services and digital information products. For example, if you’re an expert in coaching coaches to get more business, what can you sell them? Digital products, memberships, live events, workshops, small group coaching, one-on-one coaching, and so forth.
List everything you think you can create that might sell to your ideal audience based on your expertise.
What Competition Do You Have?
One way to determine marketable things is to find your competition. Competitors have some insight into what sells and what doesn’t, especially, if they have been around for a while. They have already been doing it! You can learn from them and cut the time from idea to income short.
When you study your competitors, it’s a good idea to buy their products and services so that you know what they are involved in so you can figure out how they’re making their money.