4 Things You Must Know Before Monetising Your Skill or Expertise

So, you’ve got a skill. Maybe you’re the go-to person for graphics design, a problem-solver when it comes to business strategy, or the friend everyone calls when they need content that slaps. Whatever it is, the big question is: how do you turn that ability into actual money?

We spoke with Fiyin Toyo and Seyifunmi Oderinde, two professionals who know what it means to package skills into a business. They broke it down into four key things you must know before you start charging—and thriving.

1. Identify Your Real Skill or Expertise
The first step is clarity. What exactly are you good at—and how does that translate into value?

“Skills and expertise are simply the ability to do something or solve a problem consistently with results,” Fiyin explains.

Results are what create value. And value is what people pay for. Your skill is only as strong as the problems it solves—whether that’s helping someone make money, save time, or achieve better results.

Think about it this way:

Do you help businesses save time with automation?
Do you help clients make money with marketing strategies?
Do you deliver results that people can’t ignore?
If the answer is yes, then you’ve identified what you can monetise.

2. Know When (and How) to Start Charging
Many people get stuck here—when do you stop doing freebies and start putting a price tag on your work?

“The moment you feel confident enough to put money on your time, skills and expertise, you can start charging,” Seyifunmi says.

Charging is not just about slapping on a random figure; it’s about being intentional. Fiyin breaks down three approaches to pricing:

Cost-based pricing: Factor in what it costs you to deliver a service, and make sure you pay yourself fairly.
Value-based pricing: If you helped a client make ₦1M in revenue, why should your fee be ₦10K? Take a portion of the value you create.

Competitive pricing: Benchmark against what others in your industry charge—but don’t underprice yourself out of fear or insecurity.
“Be confident. Don’t let your age or fear cripple you. Don’t underprice yourself,” Fiyin warns.

3. Build a Personal Brand That Works for You
Making money once is easy. Building a steady flow of clients? That’s where your brand comes in.

Fiyin swears by the three C’s:

Clarity – Know your niche and own it.
Consistency – Show up often enough that people associate your name with your skill.
Credibility – Back up your claims with results, testimonials, and integrity.

“Where are the people you’ve provided value for? Where are your testimonials? Be clear, be consistent, and be absolutely credible,” Fiyin advises.
And then there’s confidence.

“Your confidence is a function of your competence. Once people see value in what you have to offer, they will come back,” Seyifunmi adds.

In other words, the more you know your stuff, the easier it is to sell yourself without shrinking.

4. Diversify Your Income Streams
Once you’ve started earning and your brand is stable, the next step is growth. And that growth comes from diversification.

Seyifunmi suggests tailoring your expertise across industries and platforms. For instance, X (formerly Twitter) might work for one client, while LinkedIn works better for another. Don’t be afraid to adapt.

Also, think bigger:

Offer consulting.

Digitise your knowledge into ebooks, online courses, or templates.
Provide coaching services to people who want to learn what you know.

“Consulting is one word that encapsulates many things. Through this, you’re able to offer your expertise in different ways,” Seyifunmi says.

The bottom line? Don’t put all your eggs in one basket. Create different income pipelines so you can sustain your hustle long-term.

Final Thoughts
Monetising your skill isn’t rocket science—but it does require clarity, courage, and strategy. First, identify your skill. Then, start charging confidently, build a brand that earns trust, and diversify your income streams.

Because at the end of the day, the difference between a hobby and a hustle is this: one takes from you, the other pays you back.