How To Make A Killing In The Experts Industry

The term “experts industry” was coined by Brendon Burchard in his book, The Millionaire Messenger. Brendon is one of the towering figures in the experts industry. His Millionaire Messenger was #1 on Amazon’s best-seller list for 40 weeks and catapulted the author to the top of the pile in the industry.

Brendon went on to launch the now defunct Experts Industry Association and the run-away successful “The Expert Academy” and the “High Performance Academy.”, becoming an instant sensation. Oprah describes him as “One of the most successful online trainers in history.”

But how did the self-help industry get started? The terms experts industry, self-help, self help, personal development, personal improvement, personal growth, self-improvement, and information marketing are often used today interchangeably.

The industry is increasingly referred to as the experts industry in recent times because, according to Brendon Burchard, “It’s where experts operate.”

The term self-help (also used without hyphen) was the term first used to describe the industry and was coined by Samuel Smiles, a Scottish Doctor, in 1859. However, the term (self-help) is now viewed as derogatory because of the assortment of snake oil salesmen or charlatans that prowl about, online and offline, seeking who to unleash their fake wares and cures.

Sacramentochiropractic.com, points out that the origins of self help date back to the book “The Constitution of Man,” written by a Victorian phrenologist, George Combe, in 1828. It was followed, according to them, by Ralph Waldo Emerson’s “Compensation” in 1841.

Quoting market research.com, Iulia-Cristina Uta shared the information that “the self-improvement market was worth $9.9 billion in 2016 and is estimated to grow to $13.2 billion by 2022, with 5.6% average yearly gains.” That’s a total growth rate of 33.33% meaning there is room for any determined soul to jump in.

I her article in brandminds.ro and quoting Niels Eek, a psychologist, Iulia-Cristina Uta threw a sharp light on what the industry is all about. She asserted, “Self-improvement is about consciously identifying and developing one or more facets of your life. From the perspective of an entrepreneur, self-improvement will often entail some sort of mental training but can mean anything from practicing stress management to valuable goal-setting. Professionals are often keen to learn things like time-management techniques (for better prioritizing tasks) and increasing productivity without compromising mental wellbeing.”

The self-improvement market is wide and encompasses a large variety of products and services, ranging from books, to e-books, online courses, coaching programs, webinars, “academies”, “universities”, “masterminds”, master-classes, conferences, and mobile apps according to brandminds.ro.

Taking the digital angle, Hazel Davi, a guest blogger at virgin.com quoted various sources and research findings as pointing to the fact that compared to other age groups, millennials are the most driven to engage in self-development.

Writing under the title, “What does self-improvement look like in the digital age?”, she asserted, “Millennials love self-improvement; whether it’s learning how to be an inspirational leader or change-maker, coding for beginners or leaning In – they seemingly can’t get enough of it.”

Since its creation in 1859, the industry has become unstoppable with thousands of “gurus” peddling their wares to whoever cares to read, listen, view, try, and buy. When asked whether he was a “guru”, Peter Drucker had said, “The term charlatan was too difficult to pronounce so someone invented the word guru.”

In that regard marketresearch.com has this to say, “Consumers are realizing that there are many so-called “experts” now peddling a variety of online “masterminds”, “academies”, “universities” and coaching services. Too many, in fact. As a result, gurus are trying to figure out how to cut through the clutter while consumers are trying to identify legitimate, competent experts.”

The US is unique in that it’s the only country in the world I know of where a full month is set aside for self-help. According to sacramentochiropractic.com, September is National Self Improvement Month in the US. According to the blog, “It’s a time to reflect upon your life, set new goals and take strides to make personal changes in order to achieve the life you truly wish.” Any wonder the US is the global center of gravity for self-help?

Any wonder the biggest names in the industry in the English speaking world are all Americans? The following 20 living and long gone legends readily come to mind, not in any particular order: Napoleon Hill, Jay Abraham, W. Clement Stone, Jack Canfield,
Dale Carnegie, Mark Victor Hanson, Jim Rohn, Tony Robbins, Charlie “Tremendous” Jones, Marcia Weider, Dr. Wayne W. Dyer, Joe Polish, Deepak Chopra, Gary Vaynerchuk, Zig Ziglar, Tim Ferriss, Les Brown, Peter Diamandis, Brian Tracy, Brendon Burchard.

In the English speaking world, no two people have made bigger impact in the self-improvement industry than Sir Richard Branson and Oprah Winfrey. But they belong to a special class of their own, the billionaire’s class.

Branson’s business empire spans the globe and he always finds time to motivate the new generation. His book, How I Lost My Virginity, is an evergreen classic on motivation.

Oprah is not far left behind. Her OWN (Oprah Winfrey Network) and The Oprah Winfrey Show attract millions worldwide. Get your book onto the Oprah Book Club and you’re made for life. Such is the magnate of the Oprah brand.

According to webwire.com, the self-help industry was worth $11 billion in the US in 2019. Thanks to the COVID-19 pandemic, the industry is growing even bigger in 2020 as the explosive growth for the services of online webinar companies such as ZOOM, Webinar Jam, and Microsoft Teams illustrate. The future of the industry has never been brighter.

The dollar-worth of the various segments of the self-help industry in 2019, according to marketresearch.com, as quoted in brandminds.ro, was as follows:
• Self-help audio books – $769 million
• Self-improvement books – $800 million
• Self-improvement apps – $27 million
• Personal coaching services – $1 billion in the US
• Motivational speakers – $1 billion per year combined

To make a killing in the self-help industry and join the long list of millionaires, you need to pick a niche and pitch your tent. If you know your onions and choose the right strategies, you can make a killing within a year or two.

The internet has put self-help within the reach of anyone with something of value to over. Indeed with a laptop, internet connection, and a message or a product the market is hungry for, you can create impact with blistering speed and dance all the way to the bank.

The key to success is identifying a lucrative niche that matches your expertise. Here are the top nine niches according to marketresearch.com:
1. Infomercials
2. Audio books
3. Self-improvement Books
4. Self-improvement apps
5. Personal Coaching
6. Motivational Speakers
7. Weight Loss Programs
8. Public Seminars
9. Holistic Institutes & Training Companies

I first stumbled on the self help industry some 30 years back. Brian Tracy’s motivational tapes wetted my appetite. At about the same time, I stumbled on Jay Abraham’s “12 Pillars of Business Success”. That led me to “Success Magazine”, and later “Excellence Magazine”. It was not long before I stumbled on Tony Robbins’ best-selling books “Unlimited Power”, and “Awaken The Giant Within”. I’ve never looked back.

While the industry as we know it today took off “officially” in 1859 with the publication of Samuel Smiles book, Self Help, which sold 250,000 copies, motivating people, with oratory, dates back to antiquity.

As Adlai Stevenson once alluded, “When Cicero turned to the crowds in ancient Rome, people said, ‘great speech’. When Demosthenes spoke to the crowds in ancient Greece and people turned to each other, they said: ‘Let’s march.'”

So self-help dates back at least 2400 years. However, it really took off with gusto with the advent of newspapers, radio, television, and now, the internet. There is no better time than now to jump into the experts industry and make a fortune for yourself. With a free 90-minute webinar, you could make $10,000 before the webinar is over. Is that not worth giving it a try?

Paul Uduk is the creator of Book Writing Clinic (BWC) (which seeks to groom 1million authors with thriving expert empires all over Africa), iFoundation Course For Newbies (iBFC(n), iBusiness Mastery Course (iBMC), and iSchool Complete Course. He is the author of seven books, including Bridges to the Customer’s Heart, dubbed The Customer Service Bible, which has sold over 3500 copies in Nigeria. The internationally acclaimed motivational speaker Richmond Dayo Johnson called him “One of Nigeria’s most authentic experiential writers. A trainer par excellence, he’s the founder Vision & Talent Training Group. His clients include Fortune 500 companies. He trains also for some of Nigeria’s biggest companies, including Dangote, First Bank and Nestoil Group (whose clients include ExxonMobil, Chevron, Shell, Agip, and NNPC, amongst others). Paul has been featured in The Guardian, Vanguard, NTA, SilverBird TV, Business Day and SuccessDigestExtra. A McKinsey Executive Panel Member, he’s a Platinum Author at EzineArticles.Com. Paul has interviewed legendary motivational speakers and entrepreneurs, including Richmond Dayo Johnson, Ben Ofungwu, Dr. Ernest Azudialu Obiejesi, Dr. Richardson Ajayi, and Nkechi Obi. His E-Product Development Blueprint For Beginners has been published on Medium and has been downloaded over 10,000 times. Paul’s mantra is Quality Every Day (QED). Overall, Paul has over 350,000 training man-hours under his belt in a career spanning 30 years in the banking and consulting industries. He’s now carving a niche for himself in information marketing, aka experts industry. He has been endorsed by billionaire philanthropist, Tony Elumelu, the founder Tony Elumelu Foundation (TEF). He wants to be Like Jay Abraham. Follow him on Facebook, Twitter and Instagram. Connect with him via email and at his website. Above all, let your views be heard by commenting on his sensational blog posts and Ultimate Guides at http://wuswug.info/.

Strategies For Executives Seeking an Industry Change Without Breaking the Bank

Changing industries can open up a broader range of opportunities for executives who want to reinvigorate a stalled career, seek to combine their skills and interests in a new arena, are stuck in a dying/declining sector, have limited options in their desired geographic location, or are impacted by the increased outsourcing of operations overseas. According to a study by the New York-based Association of Executive Search Consultants, nearly 50% of the executives surveyed are searching for brighter horizons by considering an industry change.

Although product and industry knowledge are important to some companies in certain industries, it is possible to make a successful industry transition through a focused, systematic process-without having to reduce your compensation level. Unless a position requires industry-specific technical knowledge or contacts, you can build a clear case that will illustrate your ability to succeed in a new industry. In fact, some employers relax their search criteria as hiring picks up, opening up the door to industry transitions.

The secret is to move to a related field. The closer you stay to your industry, the greater the probability of obtaining a comparable salary because there is a shorter ramp-up period for learning the new business. Such factors as the complexity of the business, number of product lines and customer groups, culture and size of an organization, and similarity in marketing or manufacturing methods also play a role in how readily you can transfer your skill set to a new environment.

If the thought of marketing yourself to an industry in which you do not have expertise seems daunting, here’s how to gain the confidence you need and avoid vital mistakes in your search.
The following six steps can guide you to make an industry change happen more effectively and with fewer roadblocks.

1. Choose a sector that is aligned to your current industry. Your transition will be easier if you choose an industry with a similar focus to your current industry. For example: if you are in the transportation industry, moving from the railroads sector to trucking and freight, airlines, shipping or air courier services, would be a more closely aligned transition. If you are in finance, related sectors include commercial banks, insurance companies, savings and loans, or government insurance. If you are in health care, closely aligned areas include drugs and pharmaceuticals, biotechnology, outpatient care companies, packaging and container companies supplying the health care industry, and manufacturers of electronic instruments for health care equipment.

Therefore, recruiters or hiring authorities will consider your abilities more closely aligned and many of the business issues you’ve solved will be similar to those experienced in the new industry. Because you will have a shorter learning curve than candidates from completely different industries, you will have more of an edge in salary negotiations, as well.

2. Select a high-growth industry. Industries that are flailing are not going to be as viable as an industry that is experiencing growth. In downward turning industries, there’s an abundance of unemployed executives with industry experience to choose from, so your chances of getting the attention of a hiring executive are slim. However, high-growth industries are generally more open to change and fresh ideas, and are in greater need of candidates than large corporations.

3. Conduct extensive research on potential new industries and specific employers. Don’t attempt a search to enter a new industry without performing due diligence first. Utilize the extensive resources available to you on the Internet, in your public library’s reference department, by reading trade/industry publications and by talking with professionals to learn about their industry and future trends. Immerse yourself in the new industry. Attend professional conferences and seminars. The more you understand about the new industry, the more confident you will be and the more capable you will be of accomplishing the next vital step on this list (identifying your transferable skills).

4. Identify your transferable skills and create your unique selling proposition. Once you understand the inner workings and trends within the new industry you have chosen, you will have a better understanding of the challenges and needs faced by that sector. Determine the particular skills that are required-again through your research and by talking to industry professionals. Ask probing questions to learn what the critical things are that you will have to do well. Are those the skills that you know how to do? If not, what’s missing and is it something you can readily develop?

As an executive, you possess a number of core competencies that can cross over to new industries and organizations-strategic planning, operations management, business development, marketing, selling, financial planning and analysis, profit and loss management, people management and so forth. Review your career with a focused eye to identify relevant skills and accomplishments you’ve made that you could also potentially achieve in your new industry.

5. Write a focused resume and cover letter directed toward your new target industry. Focus on those related success stories and skills in both your resume and during interviews. When writing your resume, downplay your current industry and jargon associated with your specialty. Avoid generic/vague phrases in the profile such as “visionary executive with extensive experience in managing departments and people”.

Select relevant responsibilities and success stories and present them in a manner that illustrates the connection to the target industry. This will prove that you can produce the results that they need. At the interview be prepared to convince the hiring authority how your skills and accomplishments can be applied in that organization to solve their business challenges.

6. Consider applying for positions in smaller firms in your target industry where the opportunities may be more abundant. Smaller firms are also more likely to consider hiring those without industry experience. Small-to-medium-size organizations have fewer management levels and may not have the right talent to promote from within. The criteria may also be more relaxed in smaller companies.

On a final note, as with any job search, doing your homework is paramount. Although changing industries can pose quite a challenge, thorough preparation, a written plan, solid execution and persistence can yield the results you desire-a more personally and professionally rewarding career.