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Forge Your Wealth is meant for education and entertainment and should not be considered financial advice.
If you are breathing, you have a passion. There is a chance you thought of turning your passion into a business. After all, many of CEOs turned their passion into a business that produces good sources of income, why shouldn’t you?
Difference Between Feeling And Having Passion
There is a difference between feeling and having passion. The feeling is very sudden and makes a house built on sand appear stable. Passion itself is hard to lose. The feeling requires no effort, but passion itself is what will push you through the toughest times. Your passion could be your career or a hobby, but more importantly it could be both. For instance, I always had a passion for science and experimentation and I became a biochemist.
Your Passion Could Always Make You Money
You can turn your passion into products and potentially income, even under strange circumstances. I know a woman who majored in ancient fine arts. She studies imagery made from centuries ago. That would sound like a major that would be hard to profit off of. It is, but the difficulty did not matter to her. She is successful, and as far as I am concerned she earned every penny. She uses her knowledge to study ancient alchemist illustrations to tie them to scientific chemical knowledge. There are many books published with her name on it and she was even a featured presenter at a scientific conference I attended. I do not want to debate on what subjects are more likely to make you money, but your drive could be transformed into income.
Chasing Your Passion Versus Developing Your Passion
Your passion may be worth making into a business, but maybe there is a better way to make a business. For instance, I enjoy writing and I wrote a few drafts for a couple novels when I was younger. But how many people do you see reading books? When you do, is it ever less than a best-seller? Unfortunately, writing novels and publishing is apparently in a “never-ending state of turmoil” and may not be a great idea to chase if you want to make money. If this is my only path to turn my passion into wealth it will not be likely I would succeed.
However, there are other ways I could use writing to forge my wealth. For instance, I have started Forge Your Wealth to learn more about personal finance and to have fun writing. There are sites that pay for back-links to websites including Link-able, a site where authors and content marketers can come together to share projects to increase online visibility.
One of my original passions was fictional writing of novels, but I eventually developed it into a better way to make money. As an online blog, there is a higher chance of visibility. In fact, Forge Your Wealth has reached a considerable visibility. Forge Your Wealth is currently ranked among the top personal finance blogs by Feedspot. So I would like to thank everyone reading for helping us make this milestone. It is not easy to try out writing online, but is anything worth doing ever easy?
Things To Consider Before You Turn Your Passion Into A Business
Not everything you feel ambitious about is very marketable. Sorry but most people are just not buying hand woven baskets, are you?
Trying The Business Direction
While your passion may be simple or fun to perform, it may be hard or not so fun to make into a business. Producing is different from selling. You may even need someone to work on the selling part of your business. If you do not have the capability to sell your product, you do not have a business.
Furthermore, starting your business is just the first step. There has never been anything worth doing that required one step. If you want to turn your passion into a business, follow the words of a business owner I know. “Starting a business is the easiest thing you can do. Maintaining a business *whew,* that’s a doozy.” What? Not every quote needs to be inspiring to make an excellent point. You need to adapt your business and respond to your customers if you want to finish what you started.
It Will Take Time To Make Money
The common timeline for a business to be profitable is 2-3 years. But of course that varies depending on the business and more importantly the person behind it. Many things can happen in a business, but ultimately everything will be your fault. Oh did I mention that about turning your passion into a business?
Turning your passion into a business is a very attractive path to forge your wealth. Almost every passion could be used as a way to make money. But it will almost always be difficult. You will need to assess whether you will have your passion for a long time. If you cannot hold the passion, your passion will almost never proceed into a source of income.
However, you should try to develop your passion into something that is more marketable. Not every passion starts out with an income of a stable job. If you are willing to put in the time, you may get some money from your passion.