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10 Ways to Generate Income From Your Passion
Have you made the decision to follow the plan I laid out in the post on how to kickstart your passion focused career in 21 days?
Have you consistently spent at least one hour each day focusing completely on your area of passion?
I’m sure you’ve realized that, although it’s a simply plan, there are quite a few challenges that you’ll face along the way. If you haven’t, I’d highly encourage you to read my last post which will help you navigate through the obstacles and show you how to stay on your path to an improved quality of life.
One of the questions that I’m sure has been looming in your mind is, “It’s great studying and diving into my area of passion, but how the heck is that going to make me money? ” Well, although I’m not encouraging you to begin working on those monetization ideas just yet, I wanted to weigh in and show you at least 10 ways you can generate income from your passion.
I believe that at this point in your journey, this will help keep you on course so you can begin to see there is a “financial light” at the end of the tunnel. The following are some ways you can capitalize on the time spend delving into your passion.
There are quite a few ways to earn revenue through blogging about the topic that you’re passionate about. Once your readership grows you’ll have opportunities to make money by selling advertising space, earn money from adding Google Adsense to your site, join and promote affiliate offers, or even by offering to sell access to your expertise through speaking opportunities, information products or a number of other avenues. I won’t get into the weeds on any of these tactics here, but the bottom line is blogging can unlock a world of revenue that would surprise you.
I understand you might be intimidated by the idea of becoming a blogger. You may think because you are a bad speller, or because you did horribly in English literature class when you were in high school that you could never become a blogger. I’m here to tell you none of that matters! If you’ve truly identified your passion your head will be swimming with information and thoughts on your topic and spilling that information and those thoughts onto your blog platform will be just fine. Nobody will care about your grammar or spelling as long as they are entertained and informed by your words.
Teaching / Tutoring
Once you’ve begun diving into your true passion and devouring as much information as you possibly can, you’ll soon find yourself with an extremely high level of understanding on the topic. You’ll also position yourself as an important information source to others who share your passion. Depending on what your passion is, there could be numerous opportunities for you to share that knowledge through teaching or tutoring. It won’t matter if you teach virtually using the Internet as your platform, or if you choose to rent a room each month and conduct a 3 hour teaching seminar, you can definitely create income.
Don’t worry about whether you believe you can teach right now. All of us have insecurities over things we’ve never tried before. You’ll find that if you’re focused on your true passion the excitement and enthusiasm you have for that topic will shine through and your confidence will far outweigh any pre-existing insecurities you have about teaching other people.
Does your area of passion provide you an opportunity to provide services to other people? If you passion is copy writing, you could offer editing services. If you passion is marketing, you could offer brainstorming assistance or marketing plan reviews. If you are absolutely obsessed with making cute little dogs out of coat hangers and yarn, you could offer the completion of that task as a service to other people who want those items but don’t have the time or patience to create them on their own.
Once your brain is packed full of information about your area of passion this can be an excellent way to get that information out of your head and onto a medium that can be used to help other like-minded people. The amount of knowledge and skills necessary for this type of revenue generating opportunity is minimal. You’ll just need to break your areas of knowledge down into manageable chunks, set up the camera, and begin sharing. You’d be surprised how many people turn to the Internet for information on everything. The nice thing is that surprise will be accompanied by dollars landing in your bank account. 🙂
Selling at Passion Related Trade Shows
If you’re area of passion has related trade shows focused on your niche, this is an excellent place to translate your knowledge and authority on the topic into revenue. Whether it’s selling those yarn and coat hanger dogs, scheduling time for valuable advice sessions, or building interest in a coaching program you’re looking to offer. These are great places to get in front of a whole bunch of people who have similar passions. Once you’ve got their attention, you can turn that into dollars.
Writing Articles or Books
While on your journey of diving into your passion you could begin to track the effort you’re making and develop a step-by-step process that others who are in the beginning stages of their exploration could follow. You can easily accomplish this through either articles or books. The beauty of the Internet is that you can get these books or articles published without involving a magazine editorial person or impressing a publishing company. You can publish it on your own either digitally, or as a real book. Once you’ve done that, you can easily promote it to other people who would find it useful. AGAIN … you don’t need to be so concerned with grammar or spelling. Heck, you can find someone else who has a passion for writing to edit it for you if you’re that concerned.
Create an Association
If you get fired up over a particular topic you can be confident there are thousands or even millions of other people who share that excitement. Why not be creative and develop an association for your passion peers to join. It will take some work but if you build in enough benefits for joining and build a solid structure, this can be an amazing revenue source. I know one individual who began an association for people who were passionate about carrying concealed weapons. He charged less than $50 per year for a membership and ended up creating a revenue stream of over $3,000,000 in his first year. If you have a difficult time believe you could be that successful, that’s ok. What if your association only created $100,000 of revenue. Wouldn’t that be a nice way to monetize your passion?
Volunteer / Work for Non-Profit
Money isn’t everything and certainly doesn’t guarantee happiness. I believe that if you’re spending your time immersed in your area of passion, you’ll find many more benefits than a big fat paycheck can provide anyhow. There is an abundance of non-profit organizations which are focused on almost everything these days. The one thing they all have in common is they all need volunteers and workers who are willing to work within the constraints of a small budget. Even if you simply picked up a part time job and were only paid minimum wage, I’m sure the fulfillment could help to supplement the low pay.
Sell Through A Local Business
Are you an amazing bird trainer? Perhaps you could create a “how to train a parrot” course and offer it for sale through your local pet shop. Chances are there is a local store, or many, that you could team up with to provide something your joint passion seekers could use. This will help the store by helping them meet a demand they may not currently be meeting, and also helping them reach people they may not be currently reaching. You’ll also make a new friend who I’m sure will be happy to spread the word about the great things your doing for that segment of the audience.
Take A Class and Start Over
If you’re just completely fed up with the career you’ve been pursuing and you’d feel more confident being fed the knowledge on your area of passion from an academic person to ensure you’re receiving the best, accurate, and most thorough information … go to your local college and get enrolled. I recently visited my uncle who recently retired and he’s been taking classes related to one of his passion areas and he’s learning how to build a glider airplane. He’s taking welding classes and others so he can complete every piece of the process.
This is only the beginning of the list of things you can do to generate income from your passion. Depending on the point your at in the exploration stage, it may be premature to choose any of these paths. I just want you to know they exist and you’ll certainly uncover more as you progress through the process. If you can think of other ways that I’ve missed, please leave them as a comment below.