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Finding Your Passion And Monetizing It

https://www.forbes.com/sites/womensmedia/2013/12/09/finding-your-passion-and-monetizing-it/

forbes.com

Finding Your Passion And Monetizing It
By Stacia Pierce Everyone entertains the idea of living a passionate life. While earning an income from their true passions is only a fleeting idea for most people, there are some willing to take the risk. I've worked with several "passionpreneurs" who have taken a pastime activity that they love and transformed [...]

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Your Product

Consider why people come to you for advice. What information do you possess that can be refreshed, repackaged, remodeled, reinvented and rebranded?

Think of at least 20 ways you can offer one idea to the marketplace. Expand your options by thinking of innovative ways to transform your product or service.

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Your Promotion Plan

  • Create a portfolio by putting together samples of your work. If you’re a baker, create samples to share with others. 
  • Don’t be afraid to give away free services or products. People want to get to know, like and trust you before they buy from you. 
  • Secure your business name, get business cards, and start thinking about your website. 

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Your Platform

Who do you see buying your product or service? 

Create a client avatar: give them a name, age and personal style. Consider what they read, where they go, who they spend time with, and what they value. 

Network with people daily and let them know what you’re doing. You can do this easily with online social platforms like Facebook, Twitter, LinkedIn, Pinterest and Instagram.

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Profitable Process

Most dreams fall short between what to do and how to do them. 

That's why getting help from a coach can provide you with the business wisdom and blueprint you need to succeed. These proven processes not only save you a lot of time, money and frustration, they also help build your confidence to keep going.

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It takes more than just passion

Make sure that you’re actually good at what you do. 

Ask yourself if you’re willing to put in the hard work and if there is a market for you to tap into. Even if it’s just t...

How can you make something better

Let’s say that your passion is playing the guitar. What void can you fill in that marketplace? For example, if you can repair guitars and realize that there isn’t a repair shop anywhere else around, that could be a business opportunity.

You also need to ask yourself how you can make the industry better.

Ways to monetize each passion

Think of all the various ways that you can actually make money off your passion. This may include:

  • Selling an actual product.
  • Sharing your knowledge about your passion by blogging, writing books or filming videos. 
  • Offering advice as a consultant in anything from accounting to gardening.
  • Becoming an investor in an idea that you’re willing to financially support.
  • Inventing a gadget or software that makes life easier for people. 
  • Building an event around your passion, such as a festival or community organization.

Hobby to business: questions to ask

Hobby to business: questions to ask
  • Will I enjoy doing my hobby on a deadline?
  • Will I enjoy doing this with constant financial pressure to perform?
  • Is this hobby my outlet for relaxation? Bec...