How To Make Your Passion Profitable
Okay, so you finally found your passion. Yay! But then comes the next dilemma: How do you make your passion bankable?
Well, you may need to back up a step and make sure your passion is one that will actually generate money, according to Nicole Roberts Jones, founder of Fierce Factor Lab and author of Find Your Fierce. “To bankroll your brilliance, it will rely on more than just your passion, it will take the four steps that I have outlined in my ‘Find Your FIERCE Framework’ to move your passion into profit. Step 1: What are you passionate about? What do you actually love enough that you can do it all day long and never get paid for it?; Step 2: What are you proficient in? What’s your skill? What’s the thing that everybody, even your boss, has asked you to come do because you’re great at it?; Step 3: What problem does your passion and proficiency solve? Who needs you? How are you the answer they need?; Step 4: How do you profit just by being you?”
It’s also wise to remember you can’t blindly hit the market running. You need to prepare for the transition from passion to product and that means doing research. “Market Research is mandatory and a lot of businesses fail when they omit this step,” explained Transformational Business Coach Gaelle Lecourt of Lecourt Consulting. “You have an idea but you need to co-create it with your potential clients and ask your market for feedback to make sure your product will be successful. I’ve never seen one client have their first idea be successful.”
One way to get proof your product is a must-have is to conduct focus groups or have friends and family test it out then brag about it a little. “Get testimonials and social proof that your product is fabulous. Make video testimonials as much as you can! Use the power of storytelling in your testimonials with a strong before/after and lots of details about the person who used your product so viewers can really imagine themselves having the same type of results,” Lecourt suggested, adding any passion can become profitable.
“All passions are bankable, especially nowadays if you take your business online. Any passion that you have, there are other individuals on this planet who have the same passion and want to learn more about it. At the minimum, just sharing your knowledge and teaching people about your passions can be monetized by having a website with affiliate marketing links, selling online courses (in case you live somewhere there aren’t a lot of other passionate individuals like you and that you aren’t able to do live seminars/courses). Then, you can also create physical products, experiences, etc.,” she said.
Most important, don’t let fear keep you from pursuing your passion as a business. “The sad truth is most people will never truly define or find their ‘fierce,’ Jones said. “They will take their last breath without fully tapping into their DNA (‘Distinct Natural Ability’) which means people’s needs go unmet and they struggle because what they need is the gift in you.
“This is simply not just about making money because if you make money without meaning you will have nothing,” Jones added. “If you make millions without a purpose or passion you will never feel fulfilled. Because things do not make you happy. However, what I have learned in my own journey is that it is the act of living in the full force of your fierce that leads to fulfillment, contentment, and to true bliss.”