How To Make A Killing In The Expert Industry
The term “industry experts” was coined by Brendon Burchard in his book The Millionaire Messenger. Brendon is one of the leading figures in the expert industry. His Millionaire Messenger was #1 on Amazon’s bestseller list for 40 weeks and catapulted the author to the top of the industry.
Brendon then launched the now defunct Expert Industry Association and the hugely successful “The Expert Academy” and “High Performance Academy”, becoming an instant sensation. Oprah describes him as “One of the most successful online coaches ever.”
But how did the self-help industry get started? The terms expert industry, self-help, self-help, personal development, self-improvement, personal growth, self-improvement, and information marketing are often used interchangeably.
The industry has become more and more known as the expert industry of late because, according to Brendon Burchard, “it’s where the experts operate.”
The term self-help (also used without a hyphen) was the term first used to describe the industry and was coined by Samuel Smiles, a Scottish physician, in 1859. However, the term (self-help) is now considered derogatory due to the variety of snake oil salesmen or charlatans who prowl, online and offline, looking for someone to unleash their bogus products and cures on.
Sacramentochiropractic.com, points out that the origins of self-help go 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 of Man.” ” in 1841.
Citing 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 average annual gains of 5.6%”. That’s a total growth rate of 33.33%, which means there’s room for any determined soul to jump.
In her article on brandminds.ro and quoting Niels Eek, a psychologist, Iulia-Cristina Uta shed a clear light on what the industry is all about. She stated: “Self-improvement is about consciously identifying and developing one or more facets of your life. From an entrepreneur’s perspective, self-improvement often involves some form of mental training, but it can mean anything from practicing the managing stress to a worthwhile goal. Professionals are often interested in learning things like time management techniques (to better prioritize tasks) and increasing productivity without compromising mental well-being.”
The self-improvement market is vast and covers a wide variety of products and services, ranging from books, e-books, online courses, training programs, webinars, “academies”, “universities”, “masterminds”, classes keynotes, conferences and mobile applications according to brandminds.ro.
Taking the digital angle, Hazel Davi, guest blogger at virgin.com, cited several sources and research findings pointing to the fact that millennials are the most motivated to engage in personal development compared to other age groups.
Writing under the headline “What does self-improvement look like in the digital age?” he stated: “Millennials love self-improvement, whether it’s learning to be an inspirational leader or change maker, coding for beginners, or leaning on – Apparently they can’t get enough.”
Since its inception in 1859, the industry has become unstoppable with thousands of “gurus” selling their wares to anyone who wants to read, listen, watch, try, and buy. When asked if he was a “guru”, Peter Drucker said: “The term quack was too hard to pronounce, so someone invented the word guru.”
In that sense, marketresearch.com says the following: “Consumers are realizing that there are many so-called “experts” who are now selling a variety of “masterminds”, “academies”, “universities” and training services. online. 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 United States is unique in that it is the only country in the world that I know of where an entire month is set aside for self-help. According to sacramentochiropractic.com, September is National Self-Improvement Month in the United States. According to the blog, “It’s a time to reflect on your life, set new goals, and take steps to make personal changes to achieve the life you really want.” Is it any wonder that the United States is the world’s center of gravity for self-help?
Is it any wonder that the biggest names in the industry in the English-speaking world are all American? The following 20 living and dying legends come easily to mind, in no 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 a bigger impact on the self-improvement industry than Sir Richard Branson and Oprah Winfrey. But they belong to a special class of their own, the billionaire class.
Branson’s business empire spans the globe and he always finds time to motivate the next generation. His book, How I Lost My Virginity, is a perennial classic on motivation.
Oprah is not far behind. Her de ella OWN de ella (Oprah Winfrey Network) and The Oprah Winfrey Show attract millions worldwide. Get her book from Oprah’s Book Club and you’ll be set for a lifetime. Such is the brand mogul Oprah.
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 more in 2020 as the explosive growth of the services of online webinar companies like ZOOM, Webinar Jam, and Microsoft Teams illustrate. The future of the industry has never been brighter.
The dollar value of the various segments of the self-help industry in 2019, according to marketresearch.com, quoted in brandminds.ro, was as follows:
• Self-help audiobooks: $769 million
• Self-improvement books – $800 million
• Self-improvement applications: $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 must choose a niche and set up shop. If you know your onions and choose the right strategies, you can make a killing within a year or two.
The Internet has made self-help available to anyone with something of value to overcome. In fact, with a laptop, an Internet connection, and a message or product the market is hungry for, you can create an impact at breakneck speed and dance all the way to the bank.
The key to success is to identify a lucrative niche that matches your expertise. Here are the top nine niches according to marketresearch.com:
1. Infomercials
2. Audiobooks
3. Self-improvement books
4. Self-improvement applications
5.Personal training
6. Motivational Speakers
7. Weight loss programs
8. Public Seminars
9. Holistic institutes and training companies
I first came across the self-help industry about 30 years ago. Brian Tracy’s motivational tape whetted my appetite. Around the same time, I came across Jay Abraham’s “12 Pillars of Business Success.” That led me to “Success Magazine”, and later to “Excellence Magazine”. It wasn’t long before I stumbled across 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 “officially” took off in 1859 with the publication of Samuel Smiles’ book, Self-Help, which sold 250,000 copies, motivating people with public speaking dates back to ancient times.
As Adlai Stevenson once alluded: “When Cicero addressed the crowds in ancient Rome, the people said: ‘great speech.’ When Demosthenes spoke to the crowds in ancient Greece and the people looked at each other, they said: ‘ We’re going to march.'”
So self-help goes back at least 2,400 years. However, it really took off with a bang with the advent of newspapers, radio, television, and now the Internet. There is no better time than now to jump into the expert industry and make a fortune. With a free 90-minute webinar, you could win $10,000 before the webinar ends. Isn’t it worth a try?