Profit from passion: The ultimate way to make money?
If you really want to create a life that you love and actually feel like you are living, there are many ways to go about it. Investing is one, certainly, as is investigating the prospects of the many flavors of alt-finance that exist today. But there are no guarantees of success, and you still need to work hard – possibly in a job that you despise – to get the money you need to play with.
Ultimately, if you do something you love, money becomes less important. Of course, you still want to have a comfortable lifestyle, and be able to go on a vacation once or twice a year – but you can put up with the occasional bad year when you are involved in your career to such a great extent.
The big question is – how do you turn those hobbies into turning a profit? We’re going to take a closer look at some of your options right now, so read on to find out more.
Get out there
First and foremost, it’s one thing saying you want to work in a specific field, but it’s another entirely to have the confidence to really put yourself out there. It takes guts, bravery, and a lot of cajones to try and earn money from your passions, primarily because it’s the love of your life. If you fail – as many hobbyists believe they will – it could be devastating, and it’s this kind of thinking that prevents you from giving it your all. Try to avoid this kind of attitude wherever possible It’s tough, for sure. But if you don’t put yourself out there, you’ll never know if you can really make it.
Don’t spend too much time on the small stuff
Let’s say you are a musician, and play in a band with a bunch of friends. You spend all your time practising, looking for the perfect tune, played to perfection, but never quite reach your own expectations. You might build a band website, start putting some demos out there, and hope for the best that someone in a high position in a record company hears what you have to say. The trouble is, this is all small potatoes when it comes to the music business. If you don’t get out there and test that music in front of real fans, you’ll never know if people like it. Doing everything behind closed doors won’t teach you what it’s like to be a success. Again, it’s a case of getting out there and proving your worth, rather than doing everything in the background that you think a band or artist ought to do.
But here’s the thing. When it comes to making serious money from your art or your passions, very few people will ever make it. You are up against a lot of competition, some of whom will be more talented than you, others who work harder than you, and even more that are just plain luckier than you. It’s tough – but there are alternatives if you are realistic enough to accept them. Let’s take music again. OK, so you’ll never make it fronting a band, but what about being a session musician?
Perhaps you could create library music – the stuff you hear on adverts or film soundtracks? You could teach your instrument to others in your spare time, too – or perhaps even set up a repair shop. The artistic industries aren’t just about the people you see on TV, and a good career awaits for anyone prepared to look further afield from fame and the ultimate fortune.
The earlier you start to monetize your passions, the more chance you will have of developing a fine career for yourself. It’s really that simple. Let’s say you love making jewelry – get out there and start selling it ASAP. All your profits can go straight back into your passion, and who knows? Maybe you’ll end up in a huge bricks and mortar retail outlet selling exclusive pieces one day? If you are into fashion in a big way, you could even do something like create an alterations service. Just start charging your friends a small amount to cover your costs until you build a name for yourself, and all of a sudden you could have a valid business on your hands. Get out there and do it – are you seeing a pattern yet?
It’s not about going big
Unless you strike it seriously lucky with your passion, you might end up working with it in some kind of capacity as an employee. But you should be careful with making this move, as it can often backfire. First of all, there is a lot of competition for jobs – meaning entry level wages can be low, and very difficult to escape from. And you also have to bear in mind the type of work you will be doing. Does working as a designer for a large corporation really fulfil your creative drive? Many people who end up in these roles end up losing their passion altogether, and few can combine the artistic flair and business sense to make a good salary with it. In many cases, you might be better off trying to strike out on your own as soon as you build up a certain amount of experience.
You’ll need patience – a lot of it
Here’s the big thing about making your passions work for you – patience is key. You will go through many different iterations, experience a lot of rejection, and there will be times when you feel like calling it quits. But as long as you are earning money – somehow – and feeding your family, the more you keep going, the more likely it will be that you find that big success. It’s something of a leap of faith, for sure – and it will be tough going when you see your peers progress. But ultimately, if you want to lead a bankless lifestyle, and not have to deal with pressure in a subject or job role you detest, it’s a lifestyle choice that can often pay off.