In this article we will be discussing, how to Monetize your Passion., as if you were to work from when you’re 20 until retiring at 65, on a normal 8 hour day, with 4 weeks of vacation, then that would be an extraordinary amount of hours of your time taken by work. 86400 hours to be exact. This leads to the very obvious question, if you are going to spend literally 3/4 of your life in work, do you love your work? If the answer to this question in no, as it is for the vast majority of people, then why do it? I guess the answer to this is obvious, it’s because of the money.
Now let’s get down to the point of this, I spend most of my day working on passion projects, writing, watching Formula 1, catching up on Netflix, you know…important stuff. This is due to the fact that as a software engineer I used various methods to separate my time and my income completely, read my article about AIM’s. Now while this is much easier said than done, everyone can do the same. However that’s for a different article. The easier path for those of you who want to earn money without going through the slavery of a 9-5, is to Monetize your Passion.
One of the ways I make money for example is by making content around cars, it makes far less than my other businesses, but I love cars so much it never feels like work. This alone could pay my rent and bills. It makes more than my full time job before I decided to give up the rat race.
So how do you begin? It’s actually pretty easy.
Step 1: Decide on the Passion and How to use it
Obviously the first step is thinking about what passion to begin with. What is it that you think about while your in work, in the evenings, on the weekends. It could be anything from women to golf. It doesn’t really matter. Just pick a core subject, but pick something that you would talk about for free. Something that you currently spend hours talking about whenever the opportunity presents itself. As an example for me it’s Formula 1, and yes, I’ve already begun.
Now you might be asking, that’s great but how can I use this. The key word, is “content,” and the next step is to think about what type of content you want to create. This is key to allow you to have something draw people in for Step 2. There are many ways you can easily create content. If you like writing, then articles are still an amazing way. You could start a website easily with Wix or Squarespace and start writing. If you have a camera, you could start a YouTube channel and discuss an angle on your passion. Don’t want to be seen on camera or write, use Anchor to start your own podcast and have it on Spotify in minutes with literally no work at all!
Step 2: Figuring out how to monetize it
Now that you’ve started to create content it’s the part where you’ll have been asking how can you make money from this. Well there are several ways to monetize your passion but let’s cover three simple ways and then in the comments you can let me know about your specific site/plan and I’ll give you options.
If you began with a podcast as I mentioned above then Anchor has a built in method to allow you to make money from the traffic that comes to your podcast. They will automatically add in commercials to your podcasts (you can configure this to be in different sections) and then for each viewer you will earn money.
Similar to the above, if you can get over 1,000 subscribers on your channel, then you can also allow YouTube to add commercials into your videos and get paid per view.
If you’ve decided to write then this is the perfect solution, and it also works for the above two options too. You can do what I do to make the majority of my money, become an affiliate marketer. This allows me to put links to relevant services in my articles and I get a commission from each one that creates a sale. If you want a quick way to find products and services to link to then use Share A Sale.
Step 3: Growing and Scaling takes time
The last short but important note to understand is that all of this takes time. You need to create the content and grow and audience first. This can take from 6-18 months to take over from a full time income so you will have to wait, but if it’s your passion then just start and enjoy the ride.