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5 Useful Ways To Turn Passion Into Revenue

Once you’ve identified your passion, or passions, it’s time to turn that passion into something that builds value, is desirable to others, and creates cash to deposit in...


Photo: Koy McDermott, founder of Leaders Inspire Leaders, LLC; Source: Courtesy Photo
Photo: Koy McDermott, founder of Leaders Inspire Leaders, LLC; Source: Courtesy Photo

Have you ever wondered how to find your passion and turn it into a business? When it comes to passion, billionaire media proprietor Oprah Winfrey said it best: “Passion is energy. Feel the power that comes from focusing on what excites you.”

Finding your passion and turning it into a business can, at first, feel like a daunting task. It can even make you burst into a cold sweat. Not to stress, I have done both, helped others do it, and will share some tips to jump start your success!

First, take time and make a deliberate decision to find your passion. Why? As Leo Babauta, writer and founder of Zen Habits, explains, “Follow your passion, and you will be truly happy and incredibly fulfilled.” (Lifehack.org)

Once you’ve identified your passion, or passions, it’s time to turn that passion into something that builds value, is desirable to others, and creates cash to deposit in your bank account.

Here are five useful ways to turn passion into profit:

 

  1. Define your target market.

    This is the best place to start and it may sound counter intuitive at first, but defining your target audience will help you truly understand the problem you desire to solve. Once you have a good idea of what that is, you can now think of who would most likely suffer from the problem you have identified and this will clarify your target market.

  2. Research your target market.

    Dig deep into your market and find out what their pain points are and how they are currently being met or if they are being met at all. If they are being met, what is your unique selling proposition (USP) to solve their problem better, faster, or in a more affordable way.

  3. Create compelling content.

    The content your business creates is key. Content marketing is a smart and proven way to build value with your target market. Focus on creating content that is informative and compelling.

  4. Create a website.

    Your company website is your online business card. It shows your brand and also enables you to promote yourself to your target market. Use this as hub to refer prospective clients back to, so they find out more about you, find your content and purchase products or services.

  5. Build a list.

    Email marketing and list building is something I wish I did before I made the jump from my corporate job. Creating an email subscriber list is vital to your business and is a great entry to your sales funnel. A proven way to have your target market join your list is by using the compelling content that you created. I cannot stress enough the importance of content marketing.

Turning your passion into revenue can happen if you are willing to put in the work, and I know you are! As always be inspiring and stay inspired.

Sign up for my free gift ‘Turn Your Passion Into Revenue’ and find what you are passionate about. This is a simplified version of the exercise I use with my coaching clients to help them find clarity.

 

This article has been edited and condensed.

Koy McDermott is an entrepreneurial leadership coach and founder of Leaders Inspire Leaders, LLC. His company aims to empower individuals to uncover their purpose and live a more fulfilling life. During his bi-weekly podcast Leaders Inspire Leaders, which can be found on iTunes, Stitcher Radio, and SoundCloud, those willing to become the best version of themselves will find tools to intentionally move toward their goals. Connect with @leadersinspire on Twitter.

 

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