There is no denying the gratifying feeling that comes from profiting from doing something you love. To actually get a paycheck from cashing in on your passions is one of the most fulfilling endeavors you can experience! Now more than ever, with so much job uncertainty, this is the perfect time to pull out a journal and list what you love. I’ve worked with several “passion-preneurs” who have taken a hobby and transformed it into a viable business venture using my easy profit from your passion formula:
1. Your Passion.
Somewhere inside of you is what I call your money making moxie. It’s something you are so passionate about that it motivates you enough to turn your hobby into a paycheck. First, let’s consider your natural talent, skills and interests. Make a list of things that you can do well or something that you enjoy doing that doesn’t feel like work to you. Write down all the key words that come to mind and don’t hold back.
Starting from your obvious skill set and knowledge base is the shortest path to profit because you are already familiar with it, you already love it and there’s a shorter learning curve. Choose something from the list that you can get going with right away and develop into a business.
2. Your Product
Brainstorm all the different ways to create a business around what you love. Then
think of at least 20 ways you can offer one idea to the marketplace. In my Product Idea Creation Course, I teach business owners to expand their options by thinking of innovative ways to transform a product or service. For example, a makeup artist traditionally makes money from doing makeovers or working at a makeup counter. However she also can expand her business by packaging and promoting her skills and knowledge in various ways:
• She can sell a signature product by creating her own makeup line.
• She can leverage her expertise by selling how-to DVDs.
• She could also package her knowledge in a workshop and train other makeup artists.
Now we’ve added 3 more streams of income to her repertoire, making her business much more valuable and profitable.
3. Your Promotion Plan
Get going on making your passion into a business. Secure your business name, Get business cards, and start thinking of your website. You will need an online presence if you want to grow quickly.
You can also create your passion portfolio, putting together samples of your work. If you’re a baker, create samples to share with others. If you offer cleaning service, create a coupon to clean one room free. Don’t be afraid to give away free services or products. Your prospects like samples to see if they really want what you’re offering. People want to get to know, like and trust you before they buy from you, so be yourself, be authentic and give good free info. I get constant emails from women who want to coach with me because they are inspired by my free newsletter or they have taken my free e-coaching course Path 2 Purpose at LifeCoach2Women.com. When you give good stuff they’ll come back for more.
4. Your Platform
Who do you see buying your product or service? Write down a full description in detail of your ideal client. Create your client avatar: give them a name, age and personal style. Write down what your ideal client reads, where they go, with whom they hang around, and what they value. Then go make friends with your ideal customer. Get social connections with other people daily and let them know what you’re doing. You can do this easily with free outlets like Facebook, Twitter, LinkedIn and Pinterest. Spreading the word about your business and services online can help you get a big pay off in a short period of time.
5. Profitable Process.
Most dreams fail between what to do and how to do them, that’s where getting help from a coach can provide the business wisdom and blueprint to success. Using someone else’s expertise can cut your learning curve, help you hone in on your niche and get you to your goal a whole lot quicker than trying to do it alone. Something I love to do for my start up business coaching clients is give them systems to fast track their growth. These proven processes not only save you lots of money, time, frustration and disappointment, but they help you to get results quickly and build your confidence to keep going.
Lastly, I want to warn you to beware of getting in your own way. Some people don’t profit from their passion because they don’t think they really deserve to. Give yourself permission to profit. Avoid self-imposed limitations that may come in the form of excuses to hold you back. Take a no-excuse approach to growing your business and you will see just how easy, lucrative and fun it is to turn your passion into a paycheck!
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