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Finding Your Passion And Monetizing It

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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IDEA EXTRACTED FROM:

Finding Your Passion And Monetizing It

Finding Your Passion And Monetizing It

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

forbes.com

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Key Ideas

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.

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. 

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.

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.

6 more ideas

Find a matching mentee

If you decide on becoming a mentor, you might want to consider choosing a mentee who shares your interests. It will make everyone's life easier. Moreover, you will also be able to provide more ...

Building effective mentoring relationships

Mentoring requires having a clear idea of how the sessions themselves are to happen. 

Make sure that from the very beginning you communicate to your mentee exactly how all is going to take place: how often, where, how, etc. Get to know the other and use all the means you dispose of in order to help him or her reach the desired goal.

A mentor's real purpose

More than giving directions, a mentor is supposed to provide the so-called pieces of supportive advice, which will enable the mentee to make up her or his mind, based on their own beliefs.

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Inspiration for a business idea

It can come from anything: a unique personal experience, witnessing a problem and seeing the possibility for a better solution, even walking down the street. 

Everyone harbors inner c...

Nurture your creativity
  • Write your ideas down. Document ideas as they form so they become less siloed, and consequently, you can see connections between those ideas and other pieces of outside information.
  • Turn to the people around you. By using your community to reiterate and refine your creative ideas, it can make those ideas (and your content) even better.
Find your niche
  • What differentiates your ideas and content from others in the space? The more specific the content, the more opportunity to build the business. 
  • How can you find your niche? Use platforms like Twitter, Instagram and Reddit: Engage with shared content enthusiasts and discover subcommunities through hashtags, explore pages, liked posts and more. By leveraging these enthusiast groups, you can identify what direction to take your ideas to create the most value for the right people.

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The entrepreneurial spirit

The entrepreneurial spirit is one of those characteristics in work and life that you can't teach - they form from within and over time, they become part of who we are.

Indicators of an entrepreneurial spirit
  1. In-tune with your own passion. When people are genuinely passionate about the problems that your company is trying to solve, they will be energized by any challenge that stands in their way.
  2. Always questioning how it can be done better. The average person rarely considers how ordinary things can be made better or improved--those with the entrepreneurial spirit can't help themselves.
  3. Optimistic about all possibilities. They don't spend time thinking about what they can't do, but instead ask themselves, "Why can't I?"
  4. Taking calculated risks. They make calculated moves while understanding that there are never any guarantees of success.
  5. Above all, execution. They realize that execution is everything when it comes down to success or failure.
A strong romantic relationship

Extraordinary couples are like everyone else. Except they make their love intentional.

In business, fitness, or even your hobby, you don't passively wait for things to get better. The same i...

The three keys to passion
  • Intimacy: Emotional closeness, communication, feeling that no one knows you better or has your back more strongly than your mate.
  • Thrill: Excitement, attraction, adventure.
  • Sensuality: The entire spectrum from kissing goodnight to holding hands, from making tender love to raw passion.
    Set daily relationship intentions

    Most mornings, commit to spending five minutes with your partner. Think of a relationship intention, then share it. "Today, I intend to be careful with my tone of voice when I feel impatient."

    Commit spending two minutes at the end of the day reviewing your progress and ways to improve it.

    Do many things

    It's better to have lots of options and interests than none at all. 

    Make a list of all the things you're interested in, pick two to focus on first and then get busy. If you ...

    Always stay true to yourself

    We often try to place limits on ourselves after we've invested so much money in school and we move into the working world feeling stuck at jobs with horrible bosses, low pay and in cities that just aren't what we expected. 

    Stop doing what you hate and begin taking the steps to do what you love. You don't have to feel confined to a box and you shouldn't worry about being defined by one thing.

    Focus on you

    You won't find your passion by watching and comparing where you are in life to others. 

    You also can't compare your beginning to someone else's middle.

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    Identify What You Love to Do

    If you weren’t dealing with your job every day, what would you be doing instead?  Any activities you can dream of can be turned into a money-making venture.

    If you’re still not s...

    Do It For Free

    Before charging people money, do what you love for free for quite a while. 

    Doing the work without worrying about turning your passion into a business right away will help you hone your skills and build your confidence.

    Combine Passion With Skills

    Figure out how to create your own success tool kit /secret sauce made up of all the different skills and experiences that only you have. This is what will make you stand out and keep your service unique.

    Maybe you’re thinking about a career in photography. Maybe you also have writing skills, and you could start a blog to promote and build excitement around your photos.

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    Tips On Running a Side Hustle
    • Before you plunge headfirst into a passion project, do your research.
    • Spend time online to see what others are doing
    • Keep initial costs low by using a free website builder and...
    Reasons To Start a Side Hustle
    • Earn extra spending money.
    • Liberate oneself from the 9-to-5.
    • Obtain financial security.
    • Get a deeper sense of satisfaction.
    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...
    Have a focus

    Don't try to be everything to everyone. Decide what your key message is and stick to it.

    Keeping your message focused for your target demographic will make it that much easier to ...

    Be authentic

    It's the easy way to have an original personal brand. Pople can see right through a dishonest act and will call you out for it.

    It will also make it much easier to manage your personal brand on a daily basis.

    Tell a story

    If your personal brand isn’t telling a story, you’ve already lost half of your potential audience.

    The most effective personal branding strategy these days is to build a true narrative, a story around your brand that your audience can engage with.

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