8 Ways to Make More Money With Your Passion
I often meet women with amazing talents and skills, but many of them tell me that they don't make enough money for living yet it's hard to keep up their passion and motivation.
But the truth is that you can make more money if you think out of box.
For example you are passionate about fashion.
Most of people would think becoming a fashion designer or selling cloth as a business.
There is nothing wrong about it, but if you open up your mind for new idea and business opportunities, you'd be amazed that there are so many more ways to make money and build your business around your passion.
1.
Do it yourself - This is where many entrepreneurs start their business.
You love designing and making your own jewelry, so you make them and sell out of your house or a flea market.
But since you are doing it on your own, your time is limited and often your income is also limited.
2.
Sell other people's products - Instead of making your own products and sell, you can also sell other people's products.
You can showcase cloths or jewelry from various designers and sell them at home party or trunk show.
Or you can consider becoming a sole distributer to represent a successful brand from overseas or become an affiliate or reseller of a popular brand.
Franchise also falls in this category.
Reinventing the wheel takes a lot of time and energy.
Taking what's already successful and selling in your market can be a great shortcut.
3.
Sell information about it - TV, radio, magazine, book, portal, blog, audio and DVD program, workshops and seminars are all types of information businesses.
A fashionista can turn into a blogger by providing styling advice and tips.
A yoga teacher can create home exercise video series or DVD for a specific niche.
There are two ways to make money in this model: sell information for a fee or you can provide information for free and sell advertisement.
Great thing about this type of business is there is very little manufacturing cost and logistics involved and you can start with very little money.
4.
Sell solution - Providing consulting, coaching and advice about your topic are another option to make money with your passion.
If you like fashion, you can provide color analysis, personal shopping service, fashion make-over, styling advise and image consulting to add more values to your product and services and charge more for personalized solution.
5.
Build a community around it - Here is another option.
You can create clubs, association, membership and mastermind group for the people with same interest and charge fee for it.
Your membership fee depends on how much values you provide and the benefits varies from monthly newsletter, member-only events, in-depth information, specialized training, discount to private access to experts, coaches and mentors.
6.
Sell tools, apps and accessories around it - If you are passionate about music, selling music and instruments are not the only option.
A website specialized in sound effects, offering wide variety of devices, software, libraries and licenses can put you thousands of dollars in your pocket every month.
Facebook currently have 800 million active users and their revenue for 2011 is expected to be approx 4 billion dollars.
As more and more businesses see social media marketing as a very important part of their marketing, many entrepreneurs are making money by selling trainings, services and apps to help other entrepreneurs.
7.
Train the trainer - If you're a massage therapist, photographer, jewelry designer or make-up artist, there are so much that you can do on your own because your time is limited.
But you can train other people and build a team to take on more clients and you can focus on high paying clients.
You can also develop a certification course by representing an existing organization or create your own brand.
8.
Customization or Done-For-You - Some people have time but needs money while others have money but not time.
Many people are willing to pay more to get customized solution to meet their personal needs.
It can be from custom made dress to internet marketing for dentist.
And the great news about this type of business is you can charge more money!
But the truth is that you can make more money if you think out of box.
For example you are passionate about fashion.
Most of people would think becoming a fashion designer or selling cloth as a business.
There is nothing wrong about it, but if you open up your mind for new idea and business opportunities, you'd be amazed that there are so many more ways to make money and build your business around your passion.
1.
Do it yourself - This is where many entrepreneurs start their business.
You love designing and making your own jewelry, so you make them and sell out of your house or a flea market.
But since you are doing it on your own, your time is limited and often your income is also limited.
2.
Sell other people's products - Instead of making your own products and sell, you can also sell other people's products.
You can showcase cloths or jewelry from various designers and sell them at home party or trunk show.
Or you can consider becoming a sole distributer to represent a successful brand from overseas or become an affiliate or reseller of a popular brand.
Franchise also falls in this category.
Reinventing the wheel takes a lot of time and energy.
Taking what's already successful and selling in your market can be a great shortcut.
3.
Sell information about it - TV, radio, magazine, book, portal, blog, audio and DVD program, workshops and seminars are all types of information businesses.
A fashionista can turn into a blogger by providing styling advice and tips.
A yoga teacher can create home exercise video series or DVD for a specific niche.
There are two ways to make money in this model: sell information for a fee or you can provide information for free and sell advertisement.
Great thing about this type of business is there is very little manufacturing cost and logistics involved and you can start with very little money.
4.
Sell solution - Providing consulting, coaching and advice about your topic are another option to make money with your passion.
If you like fashion, you can provide color analysis, personal shopping service, fashion make-over, styling advise and image consulting to add more values to your product and services and charge more for personalized solution.
5.
Build a community around it - Here is another option.
You can create clubs, association, membership and mastermind group for the people with same interest and charge fee for it.
Your membership fee depends on how much values you provide and the benefits varies from monthly newsletter, member-only events, in-depth information, specialized training, discount to private access to experts, coaches and mentors.
6.
Sell tools, apps and accessories around it - If you are passionate about music, selling music and instruments are not the only option.
A website specialized in sound effects, offering wide variety of devices, software, libraries and licenses can put you thousands of dollars in your pocket every month.
Facebook currently have 800 million active users and their revenue for 2011 is expected to be approx 4 billion dollars.
As more and more businesses see social media marketing as a very important part of their marketing, many entrepreneurs are making money by selling trainings, services and apps to help other entrepreneurs.
7.
Train the trainer - If you're a massage therapist, photographer, jewelry designer or make-up artist, there are so much that you can do on your own because your time is limited.
But you can train other people and build a team to take on more clients and you can focus on high paying clients.
You can also develop a certification course by representing an existing organization or create your own brand.
8.
Customization or Done-For-You - Some people have time but needs money while others have money but not time.
Many people are willing to pay more to get customized solution to meet their personal needs.
It can be from custom made dress to internet marketing for dentist.
And the great news about this type of business is you can charge more money!
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