You may be successful in the business you’re currently engaged in but it doesn’t necessarily mean that you have the passion for it. Your business skills are different from your interests and hobbies, and as they say, if you’re working on something you’re passionate about, tasks don’t seem like chores but pleasurable experiences throughout the process.
Are you thinking of reviving your old hobbies and interests and turning them into money-making endeavors? Here are some suggestions for you!
- Organize a Community Event around Them.
If you have the passion for dancing, you can organize an event in your community where you can showcase your talent and even invite other artists in the neighborhood to provide entertainment to those who’ll attend this event. Alternatively, you can organize friendly competitions to encourage more participants. There will always be costs in creating the event, and thus, you can employ a ticketing system to help you offset the expenses, pay the participants and earn money for the next show.
- Find and Learn from a Business Mentor.
A mentor can be anyone. He can be the successful businessman you adored your entire life. She could be the creative lady who loves the same things you do and is now earning from her crafts. Realize that running an established business offers different experiences and challenges than starting a venture from scratch (such as turning your hobbies into a business). And thus, you need a mentor to guide you bring your passion-based startup to success. Who knows, your mentor can also offer valuable financial tools and referral to available market, among other things.
- Find Ways to Practice Regularly
It’s always a fact that constant practice will help you perfect your skills. If you have a certain passion and invest thousands of hours working on it, you do not only become a master but also become a high authority on it. For example, if you are skilled in Mathematics, you can start by teaching underprivileged children for free. Alternatively, you can consider tutoring well-off kids as a side-job. Even though you are doing it as part of your personal hobbies, money itself will come when you have well-developed skills through considerable experience.
- Find and Fill Any Void in the Community
Assess the businesses in your neighborhood to learn what you can do or how can you provide better products or services to people that relate to your passion. Businesses often enjoy the monopoly that surrounds them and forget to improve and offer better services to their customers. For example, if the banking services in your area seem poor or slow, you can start by establishing a finance technology company to provide greater convenience to clients.
- Don’t Get Stuck on Your Degree
Many people spend most of their lives being in a job they don’t like but stayed just because it’s related to the course they graduated in college. How much more if they will be working on something they’re passionate about? They would probably be happier and more productive. So don’t be a slave of your degree thinking that you’ll change careers or have new business once you earn more money.
- Connect with Like-Minded Individuals
Understand more about your passion and increase your skills by networking with people who have the same or similar interests as you. This is a great way to share ideas with people you know as well as to have greater chances to meet new friends and expand your potential of both intensifying your passion and improving your business skills.
- Research the Possible Target Market for Your Products
When deciding to bring your passion into a business endeavor, it’s best to determine if you have a market for your products or outputs. Even if there’s just a small target, it’s still a good opportunity as these clients can serve as your niche market. By being passionate about what you do, you can always find ways to connect with your target customers no matter how small they are. Did you know that a woman who loves drawing paper dolls and dresses currently have a global market through a popular arts-and-crafts online store?
Thanks to Maricor Bunal of LoansolutionsPH for your contribution. Maricor Bunal is a professional writer with a passion for writing on financial literacy in a fun and engaging way.