The 5 Laws of Passion Monetization
I love what I do. Each day I wake up with an overwhelming sense of gratitude that I’ve found that nexus point at the intersection of passion and profitability. Now, I know there are those who believe that life begins at the end of the work day.
As a result, it matters not exactly what you do. Instead, the plan is to live for the weekend, enjoy periodic days off and squeeze as much joy as possible within those few hours at the end of each day when time is completely yours again. And then there are those who clearly have no choice in the matter. They do what they must do and never give a second thought to the luxury of what they’d actually enjoy.
I get it. I respect and completely understand the importance of doing what’s necessary to pay the bills. But for those who have a choice, or even just have an inkling of wonderment around the possibility that their passion may open up an entirely new world of profitable possibilities, let me share with you my 5 Laws for Passion Monetization.
Here’s the harsh truth. No one is going to pay for mediocre. If you are serious about turning your passion into a profitable lifestyle or even just developing an additional consistent revenue stream, then you must invest the time and resources necessary to become a master at what you do. Excellence gets noticed. Excellence is the foundational element of profitability.
The best way to accelerate your path to monetization is to work with someone who’s already slaying in the area you’d like to pursue. You can do that by first offering to help, support, or assist in some way someone you currently know that’s a stand out in your area of interest. If you don’t know anyone personally, you’re still in luck. Read books, blogs, attend conferences, and watch You Tube videos of those who are leaders in the industry you’d like to pursue. And when you’re really ready to take it to the next level, HIRE your mentor. Yep, I said it! Invest in the personalized attention and time that you need to cut years off your learning curve and build out your dream with minimized risk and maximum impact.
Understand that everything is not for everybody. Herein lies the value of focus. Take the time to determine who’s already looking for what you have to offer. Then focus your attention within a market that is already ready, willing, and able to partake of what you have to provide.
Don’t sabotage your own profitability by devaluing you. Remember you invested time, money, talent, and creativity in the mastery of your passion. And that doesn’t, nor should it come for free! If you provide a premium service don’t talk yourself out of premium pricing. If you’re truly operating within the center of your brilliance, then you are likely producing results that others can’t. That my friend, is valuable. And it deserves to be treated as such.
I often interact with amazingly brilliant dreamers. I can’t tell you just how many of them have shared ingenious, innovative, and potentially highly profitable business ideas with me, only to quickly follow up with a million and one excuses as to why they need to start two months from now, five months from now, ten months from now, or more. Guess what. Two months, five months, ten months down the road, that amazing business idea in their head, is still right there, stuck in their head, never having seen the light of day. And what’s worse, that’s exactly where it’s doomed to stay. If you truly want to monetize your passion, then you must act on your ideas. Action breeds monetization. You can’t send invoices based on dreams. Until action happens, nothing else will either.