3 Questions To Help You Decide If Your Passion Can Become A Profitable Business
By Joseph C Kunz, Jr
Deciding how to create a profitable business based on your passions is not a silly, time-wasting, money-wasting, pie-in-the-sky project. But it is also more than dreaming about what you love to do, or simply chasing after any passion that you have, or turning your hobby into a business, or figuring out what job you would do for free. Turning your passion, or passions, into a profitable business takes planning, research, commitment, an honest assessment of your life and your abilities, and a realistic assessment of what the market needs and wants – and is willing to pay for.
Here are three basic questions that you might be struggling with if you are trying to decide how to create a profitable business from you passion:
1. What If Someone Else Is Already Doing It?
“But if someone else is doing the same thing, then I can't do it.” Wrong. If they are making a living at it, then it is a proven concept that makes money. They paved the way for you. This is a good thing. And why should you care whether someone else is already doing the same thing? It is your passion, one in which you bring your own personality, abilities, and experiences into. In contrast, if no one is doing it, then there is the possibility that there is no serious money to be made in it.
2. What If My Passion Is In Something That Is Very Obscure?
The more niche something is, the better you must be at it, and the better you must understand that particular audience – especially if you want to make a good living at it. If a particular niche is extremely small, this most likely means that very few people are interested in it. But, if those few people are wealthy, for example, and they see you as the expert in that tiny niche, maybe there is money to be made. But who is to say that you that you can't pursue more than one passion, or niche, that all together form one or more businesses?
3. How Does My Passion Align With My Talent?
In order to make a profit with your passion, your passion must align with your talent. But how does your passion align with your talent? Don't make this more difficult on yourself that it really needs to be. This isn't rocket science. You are just so close to the subject that it seems more difficult that it really is. So, with that said, you should already have a good idea of what you are passionate about in life. And hopefully you have done an honest assessment of what your talents are. Where do the two intersect? Where do they meet? During this process it is probably a good idea to reach out to those who have already gone though this process successfully. In this way you will find mentors, and build a relationship with them.
Conclusion
You are never going to have the perfect plan. Start taking steps in the right direction and do your research, talk to others about it, write about it, and read about it. This journey is not linear, but up and down, fast and slow. Look at this process as a learning experience – a journey of self-discovery. And don't forget that there are some things you won't know if you like them or not until you try them. So don't be afraid to explore, change, or fail. You need to start somewhere, and now is the best time in your life to get started.
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