4 Considerations for Turning Your Passion into a Business
Four thoughts to consider if you’re an entrepreneur wanting to turn your passion into a career
Turning passions into actions
Is this passion more than a hobby?
When you pursue a hobby, you can quickly stop and walk away from it if you so choose. However, if you start a business, you will have to endure it when it gets uncomfortable. So make sure that whatever your passion is, it is steady. You do not have to be the best at your passion for making it a business, but it should mean more to you than a fun side hobby. Ask yourself if you want to impact this industry and where you want to focus your time. If you have a greater purpose behind your passion, then you are on track to creating something special.
Start small and get experience.
Nothing happens overnight. If you want to learn about the career opportunities within your passion, then start small. Starting small could be applying to related internships or job opportunities, taking on freelance work, or finding a mentor within the industry. Invest time into the early stages, and get a good idea of what you know about this career and what you do not. Be careful of tracking your success against other highly experienced individuals; everyone has to start somewhere.
Know the current demand and customers.
When it comes to your passion, make sure you understand the logistics. Essentially, you want to make sure your passion can turn into a career. Without any authentic demand, there is no need for a product or service. So get to know your possible customers and learn as much as you can about them — why they buy, why they do not, their expectations, etc.
Ask yourself what you are willing to invest.
Are you willing to invest your time and resources in order to make this career work? If the answer is yes, make a plan and specify what you will invest. Let's say you give yourself a year to turn your passion into a career. How much money are you willing to spend? What purchases might you have to put on pause to get this business off the ground? Write it down, create an excel sheet, and start making it happen. It takes many sacrifices to run a business. If you are serious about growing it, you will have to miss out on a lot. Keep your eye on the prize, and continually remind yourself of why you are doing this in the first place.
Investing in your passion without a 100% guaranteed return is scary, but most people never start because of this fear. Remember, if this is a career you want, you are investing in your future. Take your time, make a plan, and start turning your passions into actions.