How to Monetize Your Passion

How to Monetize Your Passion
July 23, 2013 Yomi Jegede

There is nothing as fulfilling in life as making money while doing something that you love. I love footballers because they receive so much money playing soccer which they are likely to play if there was no money involved. The problem with most people is that they get stuck doing a particular job or business for money at their own detriment because they can’t find fulfillment or happiness doing it. There is really no reason why you should do a job or business you don’t enjoy because at the end of the day you will get depressed and frustrated. Instead, you should look for something that you enjoy doing and then learn how to make money from it so that you can wake up every morning with so much drive, energy and excitement. There are 5 steps involved in this process.

Discover your passion: the first step is the discovery of passion. What are the things you look at in a line of work or a particular career to help you determine whether or not it’s your passion:

Here are a few questions you can ask yourself that will help you determine your purpose:
What can I do for fun and still make money?
Is what I’m doing today using my natural talent and personality?
Would I like to be the best at what I do today?
Who is doing something closest to my dreams?
What is it that when people do and don’t do it right makes me angry?
What would I like to be successful doing?
In what area would I like to make a positive impact?
What would I like to be remembered for the most?
What do I do best with the least effort?
What kind of assistance do people ask from me the most frequently?

In the process of answering these questions, you will discover that the same answer keeps coming to your mind repeatedly, that is the answer to your greatest question – that is your PURPOSE or PASSION. You can read more about how to discover your purpose here

Narrow in on your area of strength: this process involves you taking a critical look at your strengths and weaknesses; you can’t be a jack of all trade and a master of none. Take for example you want to become a consultant, you have to look at which particular area you want to go into, we have HR, Leadership, Health and so on. Even after you pick one, you still have to narrow down to a specific target group, for example, as an HR consultant you can chose to sell training services or help companies get staff, you can even further narrow it down to a particular area of work such as for drivers only and so on.

Invest in your yourself: this involves you developing yourself in your chosen area; you have to become an expert at whatever you chose. You should first look at other people doing the same thing you want to do and see how they do it, improve on their methods, come up with strategies that will help you win in the marketplace. Then you have to read daily bearing in mind that learning is a continuous process and that how much you know eventually determines how much you earn.

Package your passion: This is by far the hardest part believe me. A lot of people are talented and skilled but they earn mediocre income not because they are stupid or because they didn’t invest in their passion, it’s simply because they have no idea how to package what they have such that it will fetch them money. There are two major parts of packaging, the first is creating a process to deliver your service to your customers, this involves breaking down your service into unique parts making it as attractive and as simple as possible. Once you’ve done this, the second step is relatively easy which is putting a price on that service, feel free to try different prices at the beginning till you find out what works.

Advertise your passion: If you keep your skills or passion to yourself, you are committing murder. It’s there for a reason, to impact the world around you; therefore you need to advertise it. Advertise your product, service, personal brand and so on. This requires time; it’s a gradual process and as the popular saying goes “Rome was not built in a day”. It might be slow at first but keep at it because perseverance is key.

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