5 Steps to Making Your Passion (or Interest) Profitable
There is some genuine truth to this.
Assume you're on your way to somewhere you don't particularly want to go, and you have a flat tire. This has to be a sign, right? Let's turn around and head back home.
However, if you're on your way to somewhere you've always wanted to go, a flat tire is only a little inconvenience. It won't change anything except that you need to get that tire changed and back on the road as soon as possible.
Even better, if the destination represents something important to you, such as saving the life of a loved one, you will go to any length to get there.
So, absolutely, pursuing your passion makes the journey to your target much easier since you have the incentive to get there.
But what if you want to start a business but your passion is something no one will pay for?
Then it's best to pursue something else that interests you. It does not have to be your primary interest. It could just be something you want to learn more about, something that interests you, and something you can see yourself doing for the next five years.
When you have a 'passion,' or at the very least a strong interest in a successful niche, how do you best transform that enthusiasm into profit?
You could utilize this tried-and-true five-step technique, which is the simplest and quickest I've found:
Step 1: Discover Your Big Idea
The goal here is to differentiate between all of the "I Like It" ideas and the one "I LOVE It and Must HAVE It" concept. You're hunting for that one huge idea inside your passion or specialization that hits people square in the face and causes them to whip out their wallets and offer you their credit card almost without thinking.
For example, “How to Be a Good Cook” is a product that many might like, but few will think they need it right away.
But “How to Create Spectacular Culinary Delights in 30 Minutes That Will Make People Swoon in Ecstasy and Believe You Are a World-class Chef at First Bite, Even if You Can't Boil Water Right Now” is a product I would buy, and I'm not even interested in cooking!
Find your one and only BEST BIG IDEA for your passion/niche. Take the time and make the effort to get this perfect, and the next four steps will fall into place for you.
Step 2: Develop a Course Outline
Yes, you will design a course.
Wait! Don't stop reading because you believe this is too difficult for you – it isn't.
You might think you don't have what it takes to develop a course, but I'll let you in on a little secret: you don't have to be an expert on your subject.
Remember, this is a specialty in which you are either enthusiastic about or have a strong interest. This is significant since conducting your study will be exciting. You're interested in this subject. Learning more about it is more fun than work.
If you want, you can skip the research and instead collaborate with an expert.
Use the internet, particularly Amazon, to discover what is preventing individuals from achieving success with your BIG IDEA, as well as how to overcome those obstacles.
During your investigation, you will select the three most important issues related to your ONE BIG IDEA.
Think about generating outstanding cuisine dishes when you have no experience – what obstacles can arise? I'll say... off the top of my head and without sufficient investigation...
Not understanding the most fundamental, core cooking principles employed by all top chefs
Not knowing how to correctly use spices to transform even the most basic ingredients into world-class dishes
Unaware of the shortcuts that transform a 30-minute meal into one that tastes like you slaved over a hot stove all day.
These are only a few instances. You should conduct thorough research to identify the three most significant difficulties or impediments in your niche.
Step 3: Optional - Consult Experts Instead of Conducting Research
If you don't want to perform the research yourself, you can hire specialists to do it for you.
These professionals want to get their work out there, but many are unsure how. They have the information, and you have the marketing expertise. By collaborating with them, you may produce a killer product without having to write the material yourself.
Where do you look for these experts? Look for writers on Amazon and experts on YouTube. Choose three people and ask whether you can interview each one for an hour. You are not promising to pay them, but you will provide their website addresses to your students and promote them on social media.
As a result, they will often promote your course through their own online network, working as your affiliate to bring you sales.
You can also take a somewhat different approach, partnering with one specialist and paying them a percentage of your sales.
Step 4: Create Your Product
You're going to hold three live webinars, each one addressing one of the three most pressing issues in your niche.
You can deliver the content during these live webinars, or you can have your expert(s) deliver it while you do the interviews.
If you don't want to conduct the interviews yourself, you can hire someone to do it for you.
You are the producer; you are the one who puts everything together. It doesn't matter if you're also the expert, if you're interviewing the expert(s), or if you're just a bystander.
Personally, I prefer to be the one doing the interviews because the experience of the specialists provides me with quick expertise status, which frequently leads to more agreements and joint ventures down the line.
5: Make Money
You'll market your BIG IDEA via a sales page and/or a webinar. (It's worth noting that webinars convert considerably better than sales letters.)
You can sell your course even before it is created. You've got your ONE BIG IDEA, your three key points, and you've either done your research or arranged for an expert(s).
Now you're going to sell this tremendous mastermind course on your topic, which you'll be conducting in a week or two, one live webinar each week for three weeks.
Here are a few things to consider if you decide to offer the course via sales webinar:
A sales webinar allows you to build a far stronger relationship with your audience, which leads to many more sales than a sales letter.
If you do not want to lead the sales webinar, you can delegate the task to someone else who will act as your facilitator.
Sales webinars are really simple to create. Write your plan, speak for 30 minutes to an hour, provide excellent content, and then demonstrate to participants how much easier everything will be once they have your course.
You can automate the process once you've built your sales webinar and product — 1 sales webinar and about 3 training webinars. Continue to drive visitors to your sales webinar, direct buyers to your membership area, and everything will run on autopilot.
Your experts and their followers may be your initial source of traffic.
You can utilize a slideshow instead of being on camera for your sales webinar.
You can sell your course before you even start working on it. Before you create your product, come up with a major idea, write your course outline, and sell it. Your initial customers are essentially paying you to produce the product.
Using this approach, you can sell higher-priced products. Your starting price is $97, but you can sell your course for twice, three times, or even five times that amount or more.
Using this technique, you can automate everything, be viewed as an expert, and build a list.
You may scale by selling additional products to your new list and adding affiliates to increase sales and build your list further.
And, unlike constructing a standard funnel, this system requires relatively little time.
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