I believe that just about anyone could turn their idea or passion into a viable business, even multiple businesses. All it takes is a good idea, some creativity, and the courage to get started.
What I want to do in the paragraphs below is give you a hypothetical example of how this would work. For the sake of simplicity let’s suppose your passion is “rebuilding old Ford Mustangs.” You love these old cars and you enjoy fixing them up and reselling them for a profit.
You’d really like to create a business of your own that would allow you to turn your passion into a successful business. Here’s 10 different potential business ideas you could do to make that happen.
# 1 Write an eBook or Kindle Book – Assuming you like to write, you could take your experience and wisdom working with old Ford Mustangs and write an eBook or Kindle book teaching others how to do the same thing.
# 2 Start a Garage Specializing in Old Mustangs – By all means you could start your own local garage where you rebuild old Ford Mustangs for private clients. You could become the premier Ford Mustang garage in your town, state, or even in the country.
# 3 Sell Old Parts – You could create a website online or sell old Ford Mustang parts on eBay and make a very nice income. You could even create a catalog and utilize direct mail. You could buy old junkers, strip them down, and sell the parts individually.
# 4 Teach Others How to Rebuild Old Ford Mustangs – You could offer classes and seminars teaching others how they can learn how to rebuild old Ford Mustangs for profit or pleasure.
# 5 Start Your Own Ford Mustang Blog – You could start your own blog or website for other Ford Mustang enthusiasts. You could share your knowledge and then sell affiliate products, your own products, coaching, and advertising on your website.
# 6 Create a Membership Site – You could create a membership site online where people could pay a monthly fee and share their passion and wisdom about old Ford Mustangs.
# 7 Create Information Products – You could create audio CDs, videos, tutorials and other information products about old Ford Mustangs that you could sell online or offline.
# 8 Do Seminars – You could travel the country (or world) and do seminars for other Ford Mustang enthusiasts, teaching them your best secrets and tips.
# 9 Become an Affiliate Marketer – You could sell different books, parts, and training materials to old Ford Mustang enthusiasts online. You could simply promote other people’s products in exchange for a commission.
# 10 Become a Coach or Consultant – You could become a coach or consultant for other people looking to learn more about your area of expertise and charge them an hourly or monthly fee to do so.
These are just the first 10 things that came to my mind in less than a minute. I’m sure if I spent a few hours brainstorming potential business ideas, I could come up with at least 50 different businesses to turn a passion (for anything) into a business.
# 1 Brainstorm Your Ideas and Passions – The first thing you should do is make a list of things you are knowledgeable and passionate about. Try to brainstorm at least ten to fifteen different things. What are your hobbies? What are you naturally good at? What is your work experience? These three questions should give you a good starting point.
# 2 Pick Your Idea – The next thing you want to do is whittle down your list to the thing you are most passionate about. Rank your ideas from one to whatever. Start out your research with the idea you are most passionate about. Spend some serious thought on this.
# 3 Brainstorm Different Business Models to Pursue – Your next step is to brainstorm different business models you could pursue. I listed ten above. But, there are many more than that to choose from. Do some internet searching and come up with minimum 10 different business models that might work for you.
# 4 Pick Your Top Three Choices – Your next step is to pick the top three business models that interest you the most. Rank them one, two and three.
# 5 Research Your Competition with Each Idea – At this point you have your idea and three potential business models. What you want to do now is evaluate your competition. Look online to see how many other folks are doing the same thing. Just because no one is doing it doesn’t mean it is a good idea. And just because others are doing it doesn’t mean it is a bad idea. You just want to have an idea about what is currently available in the marketplace, and see what type of demand there is for it.
# 6 Pick Your Business Model – Your next step is to select the business model that excites you the most and offers the greatest potential. Since you’ve researched three different business models you should have a pretty good idea about what would work the best.
# 7 Develop a Unique Selling Proposition – Your next step is to develop your own Unique Selling Proposition. This is known as a USP. It’s a short statement, preferably one sentence, that describes what you do and why people should do business with you. An example USP (for my other website) is “I educate, help and inspire other network marketers so they can be successful in their current company.” Once again, that is just an example.
# 8 Develop Your Business Plan – Your next step is to create your own business plan. It doesn’t need to be complex. Keep it to one or two pages. Write down your mission statement, vision, unique selling proposition, five year goals, one year goals, action plan and marketing plan.
# 9 Launch Your Business – Your final step is to launch your business. I suggest you keep your day job at first while you learn the ropes and get started. Do your business part-time for the first year or two while you get established. Let your day job pay your bills and maintain your standard of living while you get your business off the ground.
# 10 Learn and Make Adjustments – For the first couple of years, while you are getting experience and learning the ropes, your objective is to learn from your mistakes and make any adjustments as needed. You might find out your business idea was bad. On the other hand, your business might be booming and offer you the opportunity to go full time. By the end of year two (max) you should have a good idea if you want to continue with your business, or not.
There you have it folks. The beauty of following this approach to turn your hobby or passion into a business is that you can potentially create a business around something you love. And if you do it right, you won’t put yourself in a bad financial situation either. You’ll keep your day job and maintain your standard of living while you work your business part-time.
Turning your passion or hobby or great idea into a successful business isn’t all that hard to do. It does take some planning, some money and some hard work. By following the advice mentioned in this post, you now know what you need to do. The only real question is “will you do it?”
What are your thoughts? Leave a comment below to let me know what you think about this concept. I look forward to hearing from you. Have a great day!