How to Turn Your Passion into Profit
The recent worldwide crisis has changed the way many of us live our lives. Due to physical distancing regulations, a lot of people were forced to work from home, or even worst were laid off and forced to collect unemployment. This time at home has given many of us the opportunity to focus on our passions and, with reopening right around the corner, hundreds of entrepreneurs are discovering new ways to turn their passion into profit.
Playing Video Games
Yes, playing video games can actually be a career choice- no fancy degree needed. There has been a 51% increase in adult social media usage since the physical distancing orders were set in place. This includes social media platforms such as Twitch.
Twitch is a great resource that gamers use to earn money. Simply set up your home studio, and live stream yourself playing your favorite game. Make your channel as fun and interesting as possible to grow a fan base, then ask your followers to subscribe. Monthly subscriptions are then split between the Twitch channel and Twitch itself.
There is plenty of money to be made on Twitch, but you have to take the job seriously. Be sure your studio has great lighting and seating so that your audience can see you and you can make your money.
The beauty industry has suffered tremendously due to the distancing orders. Unfortunately, many businesses were forced to shut down completely, however as restrictions begin to loosen up in many states, beauty workers are learning to practice their trade on the go, or in outside venues.
Starting Your Own Online Show
Do you have an idea, talent, trade, or an interesting opinion? Put it online and earn money off the views! Platforms such as Youtube will pay their users if they can earn a high level of subscriptions and views. You can also earn money by advertising other businesses on your channel. In order to get Youtube’s attention, you’re going to need to film a lot of videos.
Get the right equipment for your home studio or you are unlikely to gain a fanbase. Make sure your sound quality, as well as lighting, are professional. For an extra touch of sophistication, add a retractable green screen to the studio for better editing and style.
Turn your Passion into Money with these 6 Steps
Unfortunately, sometimes the employee and the company are not a good fit and when an employee is unhappy it may be time to discover new avenues. In fact, the Deloitte University Press has claimed that 87.7% of the American workforce can not give their job their full potential because they are unhappy. If this sounds like you, then you may want to consider these following steps:
Discover your passion. What do you like to do? Think about your favorite activities and imagine what it would feel like doing them all the time. Also consider that your hobby is different from your passion. You have to find value in your passion- you could enjoy doing something, but that doesn’t mean you can make money from it.
Find your market. Is there a demand for what you can do? Once you’ve found your market, compare your abilities to other competitors, and determine an appropriate price point.
Do your research. Is there any education, tools, or training that you need to become an expert in your field?
Start a business plan. Your business plan does not have to be perfect at first, but getting a plan together is a great start to any business. List all the tools and resources you will need, how you plan to obtain them, and how you will ultimately earn a profit.
Get your skills up. After you’ve learned about the education and training that you need it is time to go get it! Take weekend or online classes to get all the experience you need so that you can set yourself up for success.
Become Flexible. Opening your own business is not easy. Be prepared for failure and have a backup plan just in case the first one doesn’t work out. Learn the process through trial and error and see which works best for your business.
Follow Your Passion with theLAShop
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