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9 Ways to Profit From Your Passion

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https://www.entrepreneur.com/article/280658

entrepreneur.com

9 Ways to Profit From Your Passion
7 min read Opinions expressed by Entrepreneur contributors are their own. I'd rather be a failure at something I love than a success at something I hate. -- George Burns We're all passionate about something in our lives. But how can you actually turn a profit off of that passion?

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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...

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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 aro...

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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 passi...

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Don’t be a perfectionist

While you should have some sort of experience or skills to offer, there’s always room for you to learn and grow. 

Don’t wait to start your business until after you’ve mastered a c...

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Get outside of your comfort zone

Find techniques that can not only help you get outside of your comfort zone but also work on improving your weaknesses.

You don’t have to become a guru. Just familia...

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Make fun a priority

It’s difficult to maintain your passion as you attempt to grow a legitimate business. 

Always make fun and passion a priority. This means hiring people who are equally passionate ...

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Build your skills

It takes 10,000 hours to become a master at somethin...

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Overcome roadblocks

Roadblocks are all of the factors that are preventing you from following your dreams

For example, if you’re not familiar with coding or p...

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Get creative with money

If you need money to help scale your business, instead of going to your local bank or searching for investors, crowdfund your idea on Kickstarter, Indiegogo or ...

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SIMILAR ARTICLES & IDEAS:

Desire

We always work the hardest for the things we are most passionate about.

Choose your destiny and invest yourself in those fields that most interest you. 

Don't become an expert at the familiar

This type of comfort breeds something lazy in us and we only do what is expected of us, but do not go beyond. 

Crave what is new and unexplored, and fearlessly pursue those areas. 

Choose to excel

Effort counts twice as much as genius or talent.

Commit to being a person who wants to be more, do more, and consistently test the limits of your capacity. Embrace the responsibility and enjoy the freedom that comes with it.

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Benefits of a learning culture

During the last recession, companies that invested in their employees, in part by providing the training they needed to move forward in their careers, enjoyed profit gains of 26 percent, compared t...

When hiring, screen for learners

  • Ask about passion projects. Learners tend to pursue something else outside work (training for a marathon, playing with a band, etc.)
  • Focus on curiosity as much as hard skills. Bring up problems currently facing the team and see how the candidate responds.
  • One of the most important things to a learning mindset is the ability to admit you don't know something. So be aware of how they approach the things they don't understand.

Learning as a company policy

This means explicitly defining ongoing learning as a core company value.

Empowering employees can mean providing the time or money to enable learning - in other words, offering learning opportunities as a job benefit like health insurance. 

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Fuel growth while managing uncertainty

Fuel growth while managing uncertainty
  • Prepare for multiple outcomes that are within your control.
  • Refine your business plan. Adjust your strategies to your business’s current situation so you can u...