“Pursue your passion and the money will follow”, this is perhaps the most cliché and most commonly used phrase whenever we talk about careers and passions. However, as the destiny would want it, this phrase do not materialize for most folks, not because they are not passionate enough or aren’t good, but rather because they are unaware of ‘How to turn your passion into profits’.
Most people fail to pull off things they are passionate about into successful and profitable careers because they are simply stuck in their current job or they are not confident enough about their skills and expertise.
However, the lingering question here is – Would you like to do a job you feel as a burden or do something you are extremely passionate about? I know the choice here is not at all tough, afterall who wants to do an unsatisfying job? But even when this choice seems to be so easy, the act of converting this passion into something profitable scares people.
If you are looking for ways to break the paycheck cycle, and do something you really like and are passionate about, then this post is just for you.
1. Recognize Your Passion
First things first: Get hold of your actual passion. Identifying what you really enjoy doing can be tough if you aren’t clear about it. Passion is totally different from leisure. You might enjoy doing certain things occasionally may be for a change of mind or refreshing and relaxing yourself. Such things can’t be categorized as passion.
Passion is something you can do day after day, week after week, year after year, and yet aren’t bored doing it. Also, if you are passionate about something, I think it is safe to assume that you are already good at it because no one likes thing they can’t do properly.
I want you to ask yourself these question:
- What do you love to do?
- What are your friends always asking you about?
- What area would you consider yourself an expert in?
This will help you to get an idea of what is your passion and expertise. It is equally important to look if your passion has avenues for monetizing or not. If you take my opinion, then today there is nothing that can’t be monetized, so you don’t need to worry much about this.
Once you have recognized your passion successfully, you are good to go to the next step.
2. Start Free
Before charging money, it is recommended that you give people a taste of your services first if you want to turn your passion into profit.
For instance, if it’s photography, just offer to click photos for relatives for free. Surely, they would like to save money. This is how you establish yourself and prove your mettle to your potential clients.
It will also help you determine if you like it.
If you don’t like it as something you do as a hobby, there are high chances you won’t like it if your livelihood depended on it, either.
3. Do Research & Determine Demand
After you have discovered your passion, determine the level of demand for your skills and choose a field. It’s risky to plunge into a career with a very low demand, or one with a large number of competitors even though you love it. However, the number of competitors should not be the deal breaker. If you are confident in your skills, it is very possible to establish yourself and compete quite comfortably, as long as you have a strong marketing strategy.
Conduct a detailed search on what it would take to launch your career in this field. You may need to acquire specific machinery or equipment, or earn a certification, degree, or special training. You may even need to hire employees or solicit funding. To save headaches later, find out all you can now.
Interview people who have or are in a similar business to the one you’re considering. Learn what they did to succeed and follow their path, especially if you choose to work in a niche market.
4. Build a community around your business
It is extremely important for any business to identify the main target audience. These would be people whom you vision as an ideal customer. This step involves figuring out your target market, their income, demographics, needs, and preferences. This research will help you determine what value you can bring them i.e. your unique selling proposition.
Once you have figured out who your target audience is going to be – the ones you would be reaching out to, you start building up a community of individuals interested in it.
Begin by inviting your friends and family and urge them to bring their acquaintances on board.
This can manifest into a social media – Facebook page or group that you may ask them to be a part of, a Youtube channel that they can subscribe.
You can even choose to promote social media presence by boosting your posts as much as your budget allows. This is how you bring attention to your business, while also giving value to those seeking to benefit from your work.
5. Don’t Stop Until You Succeed
Well, no matter how cliche it may sound, but the fact is, if you really want to do something then you have to put consistent efforts until you make it to your goal.
Once you are done with all the other steps, your aim must be to continue doing and improving as and when you get feedback. You have to follow this work and improve cycle until you are able to make sustainable business out of your passion.
Things will take time to turn up in your favor but you just can’t quit. Persistent efforts is the last but surely not the least step you need to follow to turn your passion into profits.