“The only way to do great work is to love what you do.” – Steve Jobs
As an entrepreneur, you’re probably very aware of what you’re passionate about. If you’re lucky, you’re pursuing it right now.
A passion makes you feel that you have a purpose in life. It’s what you get out of bed for each morning.
But are you actually profiting from it?
When you love what you do – and you’re making money from it as well – life can’t really get much better. So, how DO you make a profit out of your passion?
It’s not as hard as you think. Plenty of people are already doing it, in fact.
And when you know how, you’ll wonder how you ever did life any other way.
Here are nine ways that you can turn your passion into a money-maker.
1. Passion is only the starting point.
So, you’re passionate about golf. That’s a great place to start when you’re trying to come up with a business idea, but it won’t make your business a reality – yet.
Start by asking yourself if you’re actually able to put in the hard yards to create a business out of your passion. Then check whether there’s a market for it. Chances are, you know some people who are also passionate about golf (or whatever your passion is), so don’t be afraid to get some feedback from them.
Before you get underway, just make sure you’re actually good enough at your passion to be able to create something out of it. A golfer will know whether they’re good or not, but someone who is passionate about singing might not necessarily be a brilliant singer!
2. How can you compete with others?
As a golfer, you’ll probably have some idea of any voids in the industry that need filling. For example, there might be a lack of golf tutors in your area, and you might be someone who is always showing your friends how to perfect their swing.
And – voila! There’s your new business opportunity.
At the same time, you should be asking yourself if you can make the local golfing industry better. Are you the right person for a job that requires such expert knowledge? And will it utilize your passion in the best possible way?
Someone whose passion is baking cakes might have to ask themselves: what makes my cakes better than those from a store? Or better than the cakes in a fancy cafe?
In this case, it might be the quality of their ingredients or the old-time recipe they use, or the fact that the cakes are allergen-free. All of these things will help your business venture stand out from the crowd.