deepstash
Beta
How to Monetize Your Passion
Monetization is the *final* phase of a project
Monetization is the last thing that happens in the whole creation cycle. All the work has to be done upfront though. And even if you have cash, all of this needs to happen without even a minimal reward to spur you on.
201 SAVES
This is a professional note extracted from an online article.
Read more efficiently
Save what inspires you
Remember anything
IDEA EXTRACTED FROM:
7
Key Ideas
Be Clear On Your Passion
Your passion is what you want to spend your time doing and not some random vision written on a blackboard in the sky that you somehow need to “discover”.
Ask yourself what you love doing day in day out, because ultimately this is your passion.
Align Your Passion With Your Skills
If you pick your industry based only on how much money you think you can make, then you can expect to always be chasing the money.
If you take the time to align your day-to-day passion and your skills, you will flat out make the rest of the process much easier.
Find A Market
Work out what their biggest pain is.
Again, most people do this the wrong way. They think “who is most likely to pay me the money”, and even if they aren’t in the market they want to work with, they push on anyway.
Tailor What You Offer
Think of a character that represents the people you want to work with (your avatar) and design your offering for just that person. Give them a name, and describe every detail of their pain, their fears, their hopes, their current situation… down to even the more tangible aspects of their lives like where they shop and their educational backgrounds.
This will allow you to hone what you have to offer precisely to what they want, and this will form the basis of your marketing messaging when you talk to them.
Work A Marketing Plan
Create a plan around how you are going to connect with them.
Create a database of people you can email (or snail mail) and build up a relationship with them. This is your audience. Make sure you have an easy way to be in touch with them so that you can communicate about your product or service before it’s even ready.
What Are You Going To Do About It?
Never leave the scene of learning something new without taking a new action. It’s time for you to declare which action step you’re going to put some attention onto and why.
SIMILAR ARTICLES & IDEAS:
5
Key Ideas
Easy and Convenient
Online learning gives us a choice and is a flexible virtual approach to learning, but it is not easier or faster, and one still has to learn. It is convenient due to zero commute time, no parking ...
Online Vs Physical Books
Are online books as good as physical books in terms of reading?
Reading on paper (physical books) is slightly better than online, but it comes down to personal preferences. In most cases, students have a choice.
The Cost Disparity
Online course development is a relatively new learning technique, and regular brick and mortar universities did not traditionally have any resources allocated in their operating budget.
Over time, this cost disparity may fade away as online learning becomes a regular part of the budget, and initial capital costs are normalized.
2 more ideas
3
Key Ideas
Real To Virtual
Due to the global pandemic, there is a shift towards Digital. Worldwide events, once attracting gatherings of thousands, are either being canceled or have gone virtual. This impact is subs...
Going Digital: Benefits
- Online training has certain toolsets of evaluation, recording, and sophisticated analysis of attendance, feedback, and even emotions, which was never possible in an actual classroom.
- Course materials can be downloaded instantly, as opposed to printing and shipping books every semester, reducing costs and environmental impact. The content is also updated easily and can be scaled at minimal costs.
- As information is real-time, many complex, time-sensitive models of learning can be developed, the speed of which could never be a reality in traditional methods of learning.
Convergence
A convergence of virtual models with physical aspects of learning can help us with innovative solutions to existing problems in numerous sectors.
Technology is now poised to provide better healthcare, education, and other services to everyone in an affordable and ultra-efficient system.
7
Key Ideas
Enterprization of The Consumer
Today's technology-enabled world offers many ways to capitalize on creativity: creators are now earning individually, monetizing their unique skills. People are turning their passion, the things th...
Evolution of The Passion Economy
- On-demand marketplaces established, in the last 10 years, new ways for people to make money - workers could easily monetize their time in specific, narrow services (food delivery, parking, or transportation).
- These marketplaces automated the matching of supply and demand, as well as pricing and used platforms that were convenient for both the user and the provider.
- Specific platforms provided a path to self-employment for millions of people and they also homogenized the variety between service workers, prioritizing consistency and efficiency.
The Passion Economy
New digital platforms are enabling the 'passion economy', where individuals with certain creative skill sets can earn a livelihood while doing the very thing they are good at. These platforms provide:
- Greater ability to build customer relations.
- Increased support for expanding their business.
- Better tools for standing apart from the competition.
4 more ideas