6 Steps On How To Monetize Your Passion Like A Pro
1. Identify what you enjoy and spend most of your time doing.
None of the breathing folks in this world don’t have any passion at all.
We all do.
If you’re reading this right now, I believe that there’s something that you’re good at. Something that you’re best at doing. And that’s what we call “skill”.
That skill would turn into something worthwhile. Something that when you do it, you experience “flow” — a state in which you’re so immersed in what you’re doing that you seem to lose track of time. Something that when you do it, you feel the sense of fulfillment and purpose. something that you can brag to aanyone else because you know, you excel on that talent. Something we call it “Passion”.
With that being said, you need to hone that skill more. Because the good thing is, you can actually earn money by using that.
2. Determine whether it’s going to solve a problem or fill the need
By the time you finally identify your passion, determine if it’s something very useful to others or does it fill the lacking.
For instance, if you’re good at baking, you can satiate the consumer’s sweet appetite. You can turn that out into a business when youd decide to put up your own bakeshop and serve the customers well.
When you have this special skill, analyze if if that will serve it’s purpose to people.
In that way, not only will you enjoy what your doing but also you get satisfied to serve people well in a profit.
3. Determine if it’s going to be a product or a service
Your passion might fall into either of these two categories: product or service.
Your passion could be something that creates a product which you can turn into a skill that you can leverage to several people. It could be a skill that is so hard to master and yet you’re specially good at it. That said, you can trade it to people in exchange for money.
4. Figure out how you’re gonna reach people who need it
Before you have to launch your business out of that skill, identify the ways on how you’re gonna market yourself to your future customers. Identify who are those ideal people suited to avail your business.
You have to do marketing so that people will know thaat your skill exists. There are a lot of ways to advertise your business.
For instance, through the internet.
Having been on the internet, you know that it is the medium where most people spend their time on. Therefore, You can market yourself on various types of social media platforms, where there are lots of traffic going on. Because of the power of the interemt, you can have a great chance of reaching them out.
On top of that, you must be skillful at persuading prospect customers to buy your product or service. Here’s where copywriting takes place.
For those people who aren’t familiar about it yet, Copywriting in a nutshell is “Sales in Print”.
That means you advertise your products or services in the form of writing. It is a persuasive form of writing in which you emphasize to the customers why they need your product and what benefit they can get out of it.
The more compelling your writing is, the more you likely sell to them.
Copywriting comes in different forms, it could be an Email Marketing, Landing Page, Social Media Ads, Web Page, Newsletter, etc.
To understand more of that, I highly recommend to follow these great gurus I’ve been following : Neville Medhora and Dan Lok.
5. Think of how much should you charge your product or service for.
Pricing is a crucial part in establishing a business. Since you have to price your product in a way you can get your profit after spendng on what it takes to create that product/service.
There are lots of things you need to consider in pricing.
It is very complex. You should assess if your product is affordable or expensive. However, it all depends on the quality and the time and effort it take to create what you sell.
6. Plan on how you’re gonna take their money
This final step is when you have to decide what type of business model you’re going to use to sell. There are actually several types of business models to choose from.
You can delve into them deeper to understand more how every business model works.
Make sure the business model you’re gonna choose does not clash with the mission and vision of your business.
You have to consider also your personal preference for your business because there are some business models despite of being lucrative won’t work for you. Probably due to several factors such as availability of manpower, the space available, the amount of capital, the availability of raw materials, the time etc.
After you have known all of these, you’d better start resonating on how you can hone your passion into a level where you become exceptional and unique.
Who knows?
You can be the next person who becomes more sharply skillful at doing something than anybody else who does it. The more you have strong passion in what you do, the more income you can generate.
There’s nothing more satisfying than earning money out of doing your passion. Because it wouldn’t be so hard for you to make money. And at every failure you come across, you will never lose enthusiasm. It’s pretty easy to bounce back.
You should utilize that special gift of yours or it will wither. Although it can be a God-given gift, it would be a lot better and satisfying if you learn how to monetize your Passion.
Never miss out the chance of make a living out of it.
