The two types of expert businesses (and which to choose)
In this episode, I'm going to outline the two different types of expert businesses and how to choose which is the best for you.
So once I learned from a mentor that the secret to success in technical fields was managing your career like a business and thinking about strategy, product, marketing and support, I started looking around for success examples to model.
The more I started digging into people's success paths, the more I started seeing two patterns.
Some were using their results to advance in their corporate careers, moving from consultant to senior to architect or transitioning into management. But others got to a point where they were so sought after for their expertise that they actually started building their own businesses around their expertise – either in coaching, consulting, training or things like that.
That's when I discovered that the essence of an expert business. It is how you monetize your knowledge either through strategic career growth in the corporate world or building a business around your expertise, choosing which one or both to focus on and when is a question I'm often asked and I have to reply with the standard answer.
Your goal is to determine what type of expert business you should build.
If you want to advance in a corporate career, then your expert business will center around delivering results and building your personal brand.