How to Turn Passion into Profit Part 2

Transitioning or setting yourself on a pathway to success can be very challenging. You have to give endless time and money into making your dream come true. Once that dream comes true, many people never see all the sacrifices you have made, the rejections you have heard, or the feeling of maxing out your credit cards to the point of no return. Well, there’s always a point of return and that’s called success or return on investment.

If you treated your life and your business like an investment, how much would you be willing to invest in yourself? I have been in the publishing industry for about 12 years now and you wouldn’t believe the amount of people who expect free things. From attending book festivals for free, wanting free publicity, to wanting free books. Now don’t get me wrong, free things are nice, but you often get what you pay for. It often makes me wonder how much are these individuals willing to invest in themselves. How much are these individuals willing to help build a community in which we reinvest in each other.

Years ago around 1920, during the times of Black Wall Street, it was said that the black dollar circulated within the community at least 36 times. Do you know how much we could build as a community if we reinvested in our own neighborhoods just by turning our passions into profit?

Well, I’m here to tell you investing and re-investing in yourself and your community can help you turn your passion into profit. Turning your passion into profit is about doing what you love and getting paid to do it. This could be in terms of public speaking, investing, writing books, or other ways in which people will pay you for your expertise.

What I want you to do is assess what you love to do and ask the following questions: Is this something I love? Can I make money from doing this? Have I been making money from this passion? What is holding me back from doing this full-time or part-time? Am I being realistic with myself?

Now I would never tell you to quit your job to pursue your passion. How else would you help fund your passion? I will say where there’s a will, there’s a way. You have to evaluate your goals, objectives, and determine what’s best for you.

Check out my latest book release coming soon. This book can assist you with organizing your passion and working toward bringing your it to fruition.

Creating Different Streams of Income

Photo by Anna Nekrashevich on Pexels.com

T.I spoke candidly in his song About the Money by saying ”If it ain’t about the money…” For some it truly is about the money and others it may be about power, voting rights, etc. And that’s quite alright. We are all different and are motivated by different things. I assume that when our position and needs change, so does our priorities and focus. This is evident in Maslow’s Hierarchy of Needs.

Creating different streams of income is often the goal of individuals. This allows for more flexibility in case something happens to another stream of income. Many of us know that things happen and nothing is concreate or set in stone so multiple streams would be beneficial.

In April of this year, Time and Next Advisor revealed 7 Passive Incomes for 2021. These areas included: Blogging, Digital Courses, E-books, Digital Downloads, Affiliate Marketing, Real Estate Investing, and Stock Market Investing. They also discussed how many streams you should have, which I definitely agree with. The number of streams you have is dependent on your goals and needs.

Feel free to check out the article I am referencing here: https://www.google.com/amp/s/time.com/nextadvisor/investing/passive-income-ideas/amp/