Monetize Your Passion (The Ultimate Guide + Image Quotes)

Ah, the fantasies of being able to monetize your passion…

You've been working on your project for quite some time, haven't you? Perhaps you've changed projects a few times. You've tried a few things and they haven't yielded the results you'd hoped for, so you may have gone back to the drawing board. It's gotten to the point where everything is a bit jumbled. You're frustrated because you're not making more money despite putting in a lot of effort. At times, it even makes you want to give up.

If this rings true for you, you are not alone–and there is something you can do about it.

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The Missing Piece of the Jigsaw

I've been coaching people to rock their revenue for a few years now, and there are some patterns that keep cropping up, and here's what I can tell you for certain: you're not the only one who is struggling to monetize their project.

The truth is that making money from your activities is the most difficult piece of the puzzle… if you don't set it up correctly from the start. I've seen dozens of highly skilled, talented, and driven individuals launch some incredible businesses: projects that have the potential to change the world.

They start with great ideas and put in place fantastic delivery systems, but getting the damn thing to cash flow can feel like pulling blood from a stone at times. If you can relate to this, you should know that the root of the problem, as well as the solution, begins long before you launch your product or service.

If you understand what I'm about to explain, you'll be able to position your company so that the monetization phase is the EASIEST part of the entire project.

(((Instant Book Preview of How to Monetize Your Passion for Travel)))

The most significant issue you face is that monetization occurs at the end of the entire creation cycle. However, all of the work must be completed in advance. Even if you have money, all of this has to happen without even a small incentive to keep you going.

It is not impossible, but it can be difficult, and managing your own expectations from the start is critical. There is a way to make this a LOT easier.

Begin with Your Everyday Love

Every business finds it easier to get to (and stay in) the monetization phase if they are doing something they enjoy on a daily basis. When you enjoy what you do and aren't just doing it for the money, it's easier to go the extra mile to put in a few more hours, to influence one more person, to get up, dust yourself off, and keep going when things get tough.

In fact, if you enjoy what you do every day, you'll quickly discover that going to work on that project gives you energy. That's correct! You have more energy at the end of the day than you did when you started. Getting out of bed and getting started on the tasks of the day becomes second nature because you are aligned with what you naturally want to do with your day. As you can see, monetising your passion is far simpler than monetising any old business or side project.

This is a critical point because it shapes everything that follows. This is where a lot of the pain and frustration has already started, because if you're struggling to get to the point where it's “working” (i.e. making a profit), it's probably because you're not fully aligned with what you love to do. I mean this both conceptually and in the day-to-day operations of what you do.

When I work with clients, we start by defining what they enjoy doing and where their natural skills lie, and then we align that with creating a business that delivers what the market wants. This is the step that almost everyone skips, even if they are passionate about the concept they are attempting to convey.

(((Instant Book Preview of Passive Income)))

When you're tired and have suffered an intermediate defeat, concepts won't motivate you to go the extra mile. Loving what you do on a daily basis does.

The Final Stage of Monetization

When it comes to needing cash flow from your efforts, you must account for lag time. Depending on how much groundwork is involved, the time it takes to monetize your efforts can range from several weeks to several months. Heck, I've invested in companies that, three years later, aren't paying dividends because they need to reinvest profits in massive growth.

The point is that you must consider this regardless of the size of the business you intend to grow to. You can't start putting together an idea and monetize it in a few days. Monetization is the project's *last* stage. But here's how to cut it short and increase your chances of success–BIG TIME.

1. Identify Your Passion

Contrary to popular belief, your passion is what you want to spend your time doing, not some arbitrary vision written on a blackboard in the sky that you must somehow “discover.” Ask yourself what you enjoy doing on a daily basis, because this is ultimately your passion.

2. Align Your Passion With Your Skills

Most people skip the two most important parts of the process in the mistaken belief that doing so will get them to the money faster. They believe that there is more money to be made in another business and that the grass is always greener on the other side. If you choose your industry solely based on how much money you believe you can make, you can expect to always be chasing the money.

If you take the time to effectively align these two aspects (your day-to-day passion and your skills), you will make the rest of the process much easier.

(((Instant Book Preview of Monetize Your Passion)))

3. Find a market in which you want to work and figure out what their biggest pain point is

Again, most people do it incorrectly. They consider “who is most likely to pay me money,” and even if they aren't in the market they want to work in, they continue regardless. This, once again, is the path of pain and struggle.

4. Tailor What You Offer (your passion, product, or service) to the avatar of the people with whom you most want to collaborate

In other words, imagine a character (your avatar) who represents the people you want to work with and design your offering specifically for that person. Give them a name and describe every detail of their pain, fears, hopes, and current situation… right down to the more mundane aspects of their lives, such as where they shop and their educational backgrounds. This will allow you to tailor what you have to offer to exactly what they want, and this will serve as the foundation of your marketing messaging when you speak with them.

You're making it easy for them to buy at this point, even if it's early in the process.

5. Create A Marketing Strategy

What I mean is that you should make a plan for how you are going to connect with them.

Please keep in mind that Facebook is not a marketing strategy! Even the most successful Facebook marketers only get about 20% of their sales from the platform. If you work online, you must have an email list. Period.

Create a database of people with whom you can email (or snail mail) and develop a relationship. This is your target audience. These are the people who are a good fit for your product or service and are eager to hear your message. Make sure you have an easy way to contact them so you can talk about your product or service before it's even ready. Part of this strategy will then be to cultivate a relationship with your target audience by involving them in the development of the product (or service), communicating what is available, and making it extremely simple for them to purchase.

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6. You Can Do It The Simple Way

What we've discussed are the first and most important steps in making money from what you enjoy doing, because they set the tone for everything else that follows. Once you've figured out the first few items, sales, marketing, and positioning become much easier. In reality, monetising is simply a process that begins once you've determined what you want to spend your time doing, what your natural skills are, and who you want to work with.

Remember that there is a lot of work involved before you can even think about monetizing. If you align your day-to-day activities with what you enjoy doing, your natural skills, and the market you want to serve, you will greatly increase your chances of successfully monetising your project in the shortest amount of time.

What are your plans to address it?

Never leave the scene of a new learning experience without taking a new action.

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