5 Steps To Building An Online Business Based On Your Passion
This article will reveal to you the simple and effective 5-step formula for building a successful passion business that you can scale and automate over time to create a really great source of passive income.
This concept is not a new one, and a lot of people in internet marketing are doing this today, but a lot of them don’t achieve success because they just blindly follow their passion and forget everything else!
Yes, there is more to it than just blindly following your passion.
It is not enough just having a passion for a particular subject if you want to make a difference and earn an income from doing what you love. It’s actually a lot like baking a cake. You need the recipe and all the ingredients.
If you had only half the ingredients or a recipe that was written in a language you couldn’t understand, then you wouldn’t be able to bake the cake (or if you did, it would taste really weird!)
Following your passion is only one part of a whole recipe and I am about to reveal to you the rest of it in this simple 5-Step Formula to help you put it all together so that you create a successful internet marketing business that is based on your passion.
So, let’s dive right into it, shall we? Enjoy!
What is a Passion Business?
There are a lot of people talking about passion businesses right now and I’m going to explain how this kind of business is different from the other conventional types of businesses.
A passion business is designed to help you make an income and a difference in the world while doing something that you absolutely love to do every day.
It helps you design and create a life you love by dramatically increasing your time, money, and location freedom so that you can do more of the things you want and choose to do, and less of the things you have to do.
This kind of business is built around your life, not the other way around!
The best system that I have found for doing that is through an internet marketing business that is based on selling your knowledge or advice.
This kind of internet business has a lot of advantages:
- It can be run from anywhere in the world as long as you have a laptop and internet connection.
- You only have to set up once and the profits keep coming over and over, and you can automate much of its components and leave yourself free time to do things that you want to do, so it’s a great passive income model too.
- It has minimal overhead costs. It doesn’t take a lot of time or money to get started. In fact, it is one of the cheapest start-up businesses you can run from home.
You can get started with absolutely zero investment of money – but you will need to put in a quite a bit more time to get the results that you want.
How much money you make will be in direct proportion to how much time and/or money you put in! Best of all, you get to accomplish all this while doing something that you absolutely love to do!
The sooner you get started, the sooner you’ll start seeing the kind of results you’ve always dreamed of!
But don’t let any of this intimidate you. Some people out there deliberately make it seem hard, just so that they can sell you some course or other to help you create a successful business.
There is absolutely nothing wrong with buying some of those courses if you feel you need them, but you need to understand how easy it is to get started and when you start making money, then, by all means, go out and splurge on those courses and advanced training to help you get to the next level.
How does this type of business stack up against the alternatives?
Now, when you compare this to a traditional business, you can understand why a lot of people are now moving away from the stress of being tied down to a 9-5 job, long hours of commuting, dealing with angry clients and ungrateful bosses!
A lifestyle business is perfect because you’re not creating a business just for the sake of making money.
You are creating a business that adds more freedom, excitement, and purpose to your life. A business that allows you to do what you want when you want, and from where you want.
Who doesn’t want that kind of freedom?
This kind of business, like anything worthwhile, takes time and effort to start.
The number one reason why people fail online is that they think that there is some magic button that they push that is supposed to make them rich overnight.
If you ever expect to see any real results, then you have to treat this like any other business and put in the necessary effort and have patience.
If you wanted to learn how to play the piano, would you quit trying because you weren’t able to play a full song after your first few lessons? No!
You keep at it until something clicks and you reach a new level and suddenly the songs you have been practicing seem so easy to play and you wonder why you were ever frustrated before…
It’s the same with this kind of business.
You build your passion business one step at a time. And I’m going to show you exactly how you can have your very own business up and running within a week!
How would you feel if a week from today you had made your first profit online?
Hold on to that feeling, because it’s possible. Countless people who followed this very same business model have done it and you can, too.
OK, I like what I’m hearing, how do I get started?
There is a lot of information out there, some of which – although it might be relevant – you often do not need. There is no need to reinvent the wheel here.
Use simple, proven formulas like the one that I am giving you here and avoid shiny object syndrome if you want to make progress and achieve success in your passion business.
Simply focus only on what matters and eliminate the irrelevant things.
Your 5-Step Formula
Step 1: Find Out What Makes You Tick
What interests you? What gets you excited?
A lot of people fail in business because they don’t choose a topic that interests and excites them. If you are not absolutely excited about what you are doing, then you are probably going to throw in the towel at the first sign of trouble.
For the first few months, you may hit obstacles, your profits may be lower and you will need to be dedicated in order to push through it and that comes easier when you are totally passionate about your subject.
During those first months before you start to see real results, there may be times when you keep going for no other reason than that you are enjoying the process.
That may be all the motivation you have at times.
A quick and easy way for you to find your passion is to write down every interest that you have. Read over the list and be aware of what kind of feelings you are experiencing as you do that.
If there is something that doesn’t evoke feelings of excitement, enthusiasm or a sense of passion, then take it off the list. Prune your list until there is only a handful left.
Now take the ones that are left and eliminate one at a time until one true winner emerges. If you are having difficulty choosing between two of them, just ask yourself:
“If I could only start one business, which would I rather have?”
You probably already know what you might want to do, but you just aren’t sure.
Do not fall into the trap of trying to do and be everything to everyone. It’s always best to start off with one passion. You can always expand later.
Step 2: Solve a Problem
The trick here is to find a problem that people have that you can solve and that they are willing to pay for. That is, find that intersection between what you love to do and what people want to pay for.
How do you find a problem to solve?
Now that you have a topic that you’re passionate about, it’s time to do the research to find out if your passion is profitable. Remember what I said about not needing to reinvent the wheel? It still applies. Find out what is already working:
Are there enough people interested in and spending money on the subject?
Look at other blogs or books on Amazon.
Are there products already being sold that are similar to what you want to sell? There will be a lot of competition in whatever niche you start in, but don’t worry – that is a good thing.
It means that someone is making money in that niche, so you can too!
You just have to be able to carve out a slice of the market and stand out from the competition by being very specific about what you do and who you help.
For example, don’t just be someone in weight loss, but be the expert on helping new moms lose their baby weight.
Don’t just be someone in the Personal Development niche, be the expert on the universal system for taking people’s dreams and goals from idea to creation!
Remember, you can always expand on your topic later.
It’s ok if you feel a little confused or overwhelmed right now. It’s a sign that you’re learning new information.
The goal isn’t to have total clarity at this stage, but to take ACTION and apply what you are learning.
Step 3: Build Your Platform
You need a base where people can come and get to know you and you them, a sort of home for your audience.
Blogging is one of the quickest and most effective ways to build your platform and gather an audience.
Of course, there are other ways…
Not everyone has the bandwidth to write blog posts every week, and the beauty of this system is that it works with or without a blog – you can even make it work with just a one-page website that you can have someone else set up for you – but in this article, we’ll be focusing on a blog as the hub of your business.
The first thing that you will need to do to create your blog is to get a Hosting Service and Domain Name.
A hosting service is simply a computer in the world where your blog will be installed. Note that this is NOT your own computer, but a computer at a hosting provider that has incredible power and capacity to ensure your blog is always online and is fast to load.
There are hundreds of hosting providers you can choose from, yet from my experience in dealing with a number of them and researching extensively, Wealthy Affiliate is undoubtedly my number one recommendation for hosting and training to get started.
Never built a website before?
Relax! Technology has gotten to such a point that it has become extremely easy, even a child could do it. You don’t need any coding knowledge at all! With just a few clicks of a button, you can have your very own website up and running in just a few minutes.
A blog is like any website. You need a strategy to make it work.
After your website or blog is set up, you will need a way to turn your visitors into people who are interested in what you have to offer.
The best way to do this is to get them on an email list so that you can stay in touch with them, get to know them and delight them with your products, services, and recommendations that solve their problems.
Step 4: Attracting Your Audience
In this kind of business, you need to spread the word so that you can attract an audience of people who are interested in what you have to offer and are willing to spend money on it. The good news is that there are countless ways of doing this.
You just have to pick the one that works for you and do it!
There are free sources and paid sources of getting traffic (visitors) to your site. The free methods take a bit of time for the results to show, but if you have some money to spend, then you could see almost immediate results!
This is starting to look like real work, isn’t it?
Well, this is a really good thing because most people out there don’t want to put in the work. They want to do what’s easy and fast. This means that there is plenty of room for you – if you are willing to do what it takes.
As long as you take things one step at a time, starting from where you are, you will succeed.
For example, if you don’t have your website up and running yet, then you really shouldn’t be spending all your time reading up on the latest traffic generation techniques.
Focus only on what you need to know right now and DO IT!
Step 5: Sell!
In addition to providing lots and lots and lots of free value (your knowledge, expertise) to your subscribers, you will be able to recommend products to them.
These can be your products or affiliate products – i.e. products that someone else created that you will sell on their behalf and earn great commissions on.
A lot of people tense up when we get to this part.
They are afraid to sell because they think that selling is manipulating someone into something that they don’t want. The truth is that selling can be a good or bad thing depending on how it is done.
The people that you sell to will either love you or hate you depending on how you sell to them.
No one likes to be bludgeoned with sales emails ten times a day, but if you send them free helpful information on a regular basis and only recommend products or services that really help make their lives better, then they will always welcome your recommendations and they will trust you enough to follow your advice.
Selling is just a way of exchanging value…
It’s someone giving someone else money in return for something that helps them make their life easier. In your case – you’re giving them your valuable knowledge in return for that green piece of paper we call money.
Just tell people what you have to offer, why they should get it and how it will help them.
You should only sell or recommend things that you believe in or have used personally. Don’t sell it to anyone else if you wouldn’t sell it to your own mother. It doesn’t matter if you don’t have a background in selling, either, there isn’t much to learn.
There’s no one tactic that works for every kind of business when it comes to selling. It’s mainly about experimenting and seeing what works best for you and your particular product.
You can learn everything you need to know in order to run your own successful online passion business.
There is a lot more on this topic that could help you especially if you are totally new to this. It is beyond the scope of this article to go into the full details of all 5 steps, but each topic is covered in other posts on our blog.
This is all you need to remember and implement to build a successful internet marketing business based on your passion:
- Discover Your Passion
- Find a Problem to Solve
- Build Your Platform
- Attract Your Audience
- Offer Them Great Products!
Get started right now so you can make money doing the things you love and create the life you have always wanted to live.
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Updated: Originally published May 15th 2018