Last week, in the first of our two-part series, we focused on the subject: Create Your Own Success, Step 1: Find Your Passion. We concluded with the words: ‘‘Finding your passion. That is Secret Number One in creating your own success.’’
With that settled, we now move to Secret Number Two: Monetise Your Passion. Today, we will focus on how to turn your passion into an income-generating enterprise.
You have unique talents and interests that incline you towards your vocation in life. Once you have identified them, follow up by organizing your life around them, so that your work will be an extension and expression of what you desire to do. Your journey of self-discovery should follow this three-stage approach:
Stage One is when you find your passion, after taking the time to figure it out. While it may not be right before your eyes, you will almost always recognize it when it reveals itself to you.
Stage Two is when you find ways to monetise your passion when you find ways of turning the things you love to do into a revenue stream. This is where you work out what it will take for you to transform what you are passionate about into a money-making venture.
Stage Three is when, amidst the obstacles you will inevitably meet on the way, you must wrestle with the challenges of starting and running a business.
Here are some tips for turning what you love into a sustainable and scalable business:
- Cure A Pain: Find the problems in the industry relating to your passion. Think of solutions you can create to cure the pain being suffered by the customers you have in mind. Find your niche in the market.
- Know Your Industry: Talk to people in your proposed line of business. Learn quickly. Become an expert in your industry. Make the effort to know your industry inside and outside. Know how the industry operates. Learn the nuts and bolts of starting and running a business.
- Relate With Your Future Customers: Engage with the customers you plan to serve. Understand their preferences, problems, and needs. Consider the best ways of helping them. Make your potential customers the centre of your thinking and actions.
- Surround Yourself With Like-Minded People: You will work long hours in the beginning, mainly driven by your enthusiasm. But there is very little you can achieve by yourself. It will help to remember the adage. If you want to go fast, go alone. If you want to go far, go together. Find and work with people who share your vision. They will help you shape and grow the business.
- Start Now. Waiting for a good time to start? There’s never a good time. The best time is now. Don’t wait until you have your exact plan mapped out. You can always refine this as you go. Dive in, head first. Begin from where you are, with what you have.
Starting your business is the easy part. It’s harder to grow and sustain it. This comes with its highs and lows. When the times are tough, as they sometimes will, you can count on your commitment to seeing you through the rough paths. The burning passion for your work will help you persist as you work your way towards the success of your new-found business.