You’ve heard the advice – start a business based on your passion and the money starts to roll in. Be determined; add value and give, give, give without asking back and your passion will open doors for you. And it’s true – your passion indeed can position you for success and open doors that may otherwise remain shut in your face. It sounds so simple; you wonder why your passion is yet to make you money online. But don’t get worked up. You are not the only one in this boat. There are several thousand online entrepreneurs wondering why their passion is not generating tons of cash.
And you know what makes it worse? Income Reports. Every time you read an income report online, you get sick to your stomach because you can’t take it anymore. Why are you not raking in such profits?
This is the icebreaker – Passion is not enough to make money online.
Are you kidding?
Actually no, I am not.
Passion alone doesn’t guarantee sales. It doesn’t guarantee that your business is profitable and it is definitely not a guarantee that your business will take off online.
Simply put: making money online doesn’t run on passion – alone!
There are so many things to put into consideration such as:
1. Is it a Proven Niche?
Before you sink in thousands of dollars online because “it’s a business you are passionate about”, do adequate research. Find out the big names in your niche or industry and take some time to find out their business strategies. Is there a strategy they are under-utilizing that could help you make money online?
If you check their website, you would usually find a resource page that shows you the resources they use in their business. Read this resource page and check out every resource to see which you may need in your business.
What about their archives? A blog’s archive is almost like a brain dump. It gives you an insight into how the business owner scaled his business. Take out time to study the posts in this archive and take notes. You will need those notes when you are ready to create your own strategy.
After research, you may find out that your “passion” is too narrow a niche to attract significant traffic. Armed with this information, you can re-strategize and re-position your business to get more results and eventually more sales.
2. Is it profitable?
Will your target market be willing to pay for what you are offering? How profitable is your business on the long-run? Is it scalable? Obviously, if you are going into a business, the end goal is to make a profit. If however, people are not willing to pay for what you offer, you may need to find a way to make a profit from that business. While you may be passionate about it, it doesn’t mean that others will find your passion interesting enough to punch in their credit card details.
In this case, you would have to devise other means of making money online and that can mean getting sponsors, partnerships or selling ad space on your website.
[bctt tweet=”Passion alone will NOT make you money online, you need to actively figure out how to make money from what you are passionate about.”]
3. Can you stick with it for the long haul?
The truth is, people get fed up easily and can change what they are passionate about as often as they like. Because they are passionate about a particular subject at a point in time, they set out to build a business around it only to close shop when they meet the slightest challenge. Don’t make the mistake of thinking that because it requires only a $5 dollar domain name to get started online, it is equally easy to make money.
Infact, making money online can be difficult, maybe even more difficult than making money offline, because you are trying to get people who you have never met, interested in your product or services.
If you can’t stick with it for the long haul, making money online is not for you, Period.
4. Are you treating it like a business?
This as to be the major reason you are not making money online.
Unless you treat your passion like a business, you will cross off opportunities to make sales, you will pass off paid content as free content and you will definitely spend less time caring about business strategies that have the potential of growing your business.
Treat your passion like a business and you will have no problems making money online.