Turning Your Passion into Profit

Why not get paid for what you love? As a business coach my speciality is assisting individuals that currently have a side-hustle or passion project and want to turn it into a profitable business that works for them but not sure where to start or are too scared to take that step. It is a journey to take. Most side-hustle business owners have a full-time job/safety net that stops them from taking what they love into a successful business. I will share some tips that can help you turn your passion into a thriving business venture.

  1. Clarity

The most crucial step is to have clarity of what your passion/side-hustle/talent will look like in a business format. For example: if you enjoy painting – what kind of paintings will you do? Will it be furniture, canvas’ or homes? This might sound very simple but understanding exactly what you will be doing will make it easier to sell your services/products. It will also help you with your vision of where you want your business to go.

  • Research

Do research to understand what the demand for your passion. Research your passion to see if anyone in your area is doing the same thing and if they are, what are they not doing that can make you stand out. Research your audience – find out what type of audience would buy from you & what platforms are they looking for your product/service. Many first-time business owners are unsure what to charge their product/service and when we are selling what we are passionate about – pricing can become blurry. Researching what is being charged and seeing the quality compared to yours will give you a ‘guide’ on what to charge.

  • Plan, Plan & Plan!

The biggest mistake that is made is we jump with both feet in not knowing how deep it is. Be clear about your unique selling proposition (USP) and how you’ll position your passion in the market. Have a business plan to guide you where you need to be going so when things get unsure, you can get back on track. Ensure you have a plan behind your marketing, that is strategic. In the beginning it is easy to fall under the ‘desperate’ selling by just posting constantly, this can come across to your consumers and might prevent them from buying.

  • Have Goals

Setting up goals for yourself and your business can help you keep on track and ensure your business is constantly growing. Goals gives us a purpose and what we need to be doing every day to get to those goals. Too often, business owners get stuck in the day-to-day running of the business and before they know it, it’s a quarter later and they haven’t moved closer to their goals. Setting up daily tasks that align with your goals will ensure you do not fall off track. (P.S. we have an amazing Goal Success Workshop that runs every quarter if you need guidance where to start)

  • Seek Support

Don’t hesitate to seek guidance from professionals like a coach who have experience in business. They can provide valuable insights and help you navigate the challenges of turning your passion into profit. Even if you are in this alone in the beginning, the people around you are your support system & networking with like-minded business owners will help when you are feeling a bit overwhelmed.

  • Change of Mindset

Once you have began the journey of starting your business – do not call it a “little side biz”. The mind is a powerful tool that can control the way you feel towards your business. If your mindset is not right, you will lose that passion you had to start your business in the first place and will find your business not growing. You also do not want the business side of things to take control that you do not enjoy what you are doing. Have the right, positive mindset makes the biggest difference.

The famous old saying, “do what you love, and you will never work a day in your life”, only works if you make it work. In the beginning, you are going to feel like you are working more and harder than if you stayed at your full-time job, but it will be worth it. By using these few steps, you are on your way to having a successful business that works for you – while loving what you do.

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