In our very first podcast, Laura and Kate talk about how to turn your passion into profit. We chat about how we met as girls in a small southern town, and grew up to discover our personal and career passions. We analyze how you too can identify your passion and, more importantly, how you can profit from it.
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“I have no special talent. I am only passionately curious.” – Albert Einstein
4 Steps to Turn Your Passion Into Profit
Feeling like you want more out of your work life? Take this quick 5-question self-assessment to know if it’s time to find your passion and turn it into profit:
- Do you ever dread the end of the weekend because you know a workday comes next?
- Do you ever oversleep or have a habit of being late to work?
- Do you feel like you hate most of the people you work with?
- Do you ever think that you’re unsatisfied because you work for someone else?
- Do you believe that you have much more potential than you’re currently using?
If you answered “yes” to any of these questions, you need to take a hard look at how to pivot to your next opportunity, or add an additional opportunity to your mix, that will allow you to capitalize on your passion.
Research shows there are two kinds of passion: harmonious and obsessive. Following a harmonious passion has been scientifically proven to make you happier. So don’t miss your chance to discover it.
Step #1: Actively engage in the world
- Passion is not usually innate. Engagement and action ultimately lead to finding our passions, not the other way around.
- Tina Seelig’s excellent book Insight Out: Get Ideas Out of Your Head and Into the World explains how we can unlock the pathway from imagination to implementation.
- You generally can’t identify preferences, problems, and opportunities without a catalyst, such as going on an adventure, taking a class, volunteering, reading a book, or meeting new people.
- Cultivate curiosity! It leads to discovery and engagement, which is fertilizer for the mind.
- Be open to new experiences and question everything.
- Don’t choke off inspiration – let your inspiration bubble to the surface.
- Have a positive attitude.
Step #2: Remember what you enjoy doing
Take a look at the Venn diagram with 3 intersecting circles on this page. In the first circle, labeled “Passion,” make a list of what you love doing, for example, teaching, working with animals, music, writing, programming.
Even if you haven’t done this activity or been involved with it in a long time, add it. Keep adding to this list for several days.
Step #3: Understand your strengths and weaknesses
In the second Venn circle called “Skills,” list your competencies, skills, talents, and personal strengths.
Again, this could be something you have done in the past. Think about your formal education, and skills learned from training or volunteer work.
List every specialized competency you can think of. And, most importantly, ask friends, family and co-workers for objective input on what they think your strengths are. It’s very enlightening!
Ask yourself these questions too:
- What work are you doing now that you’re good at?
- What do people ask your help for or advice about?
- What do you want to learn, but haven’t had time for?
- Do you work better alone or with a team?
- What do you want to help others do or have?
Step #4: Research market opportunities
The third Venn circle called “Demand,” is for marketplace opportunities, or what people are paying for. Even if it’s a stretch, think how people might pay for what you love and what you’re good at doing.
Remember that it’s not okay to JUST be good at something (unless you want a hobby), because we’re talking about turning passion into profit.
Consider these tips to research markets and gauge demand: Google Keyword Planner, Amazon, Udemy (great for digital products or how-to programs), and Etsy for handmade products.
The intersection of these 3 circles is where you’ll find a passion that’s also profitable. Every idea you have is a good one—if you can figure out how to make it pay.
Here’s the idea: 1) identify what you love to do, 2) what you do well or have a talent for, and 3) what someone will pay you for.
Richer Life Lab practical and free guide
Your Richer Life lab homework for this week is to take a minimum of 30 minutes to complete your own Venn diagram and report back. Click here to download your free Lab Guide.
We want to hear about your experiments in thinking about and acting on your passion! And do YOU think passion and profit should be combined?
If you’ve already found your profitable passion in a unique way, what advice do you have for others who are searching for theirs?
Send us a Lab Report to firstname.lastname@example.org or record a voice message.
A big thanks to our Richer Life Lab sponsors
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Please stay in touch
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- Leave us a voice message on this page
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