A few days ago I did a very popular article HOW TO FIND YOUR PASSION.
Now that you’ve FOUND your passion, how do you monetize it??
Most people think that “Following your passion” means “you have to be broke.”
But here’s the thing: The INTERNET is one of the most magical things to grace the planet. If you know how to run an online business well, you do not have to be broke and can monetize your passions very quickly actually.
Here are 10 ways you can monetize your passions ONLINE:
People have monetized GOAT YOGA for heavens sake. If you’re smart, I’m sure you can pick one of these ideas and make a killing with your passions online:
HIGH ONGOING EFFORT: These require more hands on attention but you can charge more
1. Online Coaching: Obviously this is where I started, and how I built my fitness business very quickly.
Now I do business coaching to help other online coaches/ consultants/ free-lancers who want to build their own 6+ figure business online.
Coaching is awesome. So freaking REWARDING to help people with your gifts. Even though I have other revenue streams set up I don’t think I would ever stop coaching 1:1.
2. Teaching online (find your passion + teach it): Similar to coaching but a little different. Teach an online class for a university. Teach English online. Create an online event or summit where you teach your skill to others and charge a price for it.
3. Free-lancing online: Eg, love event planning? Use your skills to set up an online event planning company. Or a digital consulting
company. Or whatever it is you want to teach.
4. Blogging: Start a blog, provide valuable info, and grow a large audience. This doesn’t have to take long if you’re smart about it. Put ads on the blog. Or partner with companies who pay you for blogging about their stuff.
MEDIUM LEVEL OF ONGOING EFFORT:
5. Set up a membership program: This is great if you’re a coach, teacher, or service provider of some sort. You will have to make sure the membership program stays up to date and there is constantly fresh content so people don’t get bored, but it’s a good way to set up recurring income streams.
I recently set up the Look Good Naked training club membership which was AWESOME!
6. E-commerce: Sell your own products (higher effort) or setup a store front and use Amazon fulfillment to fulfill orders.
7. Affiliate Marketing: Sell other people’s products to your audience, and get a cut of each sale (i.e. how people sell protein on Instagram). You can also use Amazon affiliate links like I do in my crazy awesome store.
LOW ONGOING EFFORT (More scalable / passive do the work once, run it on repeat, and help lots of people) – These fall in the category of “information products” — digital products which spread knowledge or information to others
8. Make an online course: This is one of my FAVORITES!! Online courses can have such a HUGE impact on people, and help so many. I am thinking of putting out a sales course soon to share tips on how to close sales without being sleazy, how to sell high ticket offers with ease, and how to create offers people can’t refuse.
9. Sell an e-book: Another one of my favorites!! I recently published a book Think Like a Fit Chick. Note: E-books are typically low price so your audience has to be large in order to make a lot of money from them. But they can still be a source of passive income for you.
10. Webinars/ Virtual events: Charge a price for sharing your gifts with others via a webinar. You can record it once, sell it forever.
Guys, the internet helps spread MASSIVE abundance throughout the world and gives everyone an opportunity to tap into the infinite wealth on our planet.
I hope this helps you realize that:
(1) If your job sucks, there IS a way out. You just have to take initiative.
(2) If you want more freedom in your lifestyle, you can have it
(3) If you want unlimited wealth and abundance –> It’s available to you.
You’re not in a cage except in your mind. If your job sucks, and your passions lie elsewhere, seriously consider an online business friends. From my experience… It’s pretty epic 🙂
Final note: All these products can make you a killing online. But if you’re serious about this it’s important to start building:
- An online following of some sort (social media, email list) – To be honest this does not take long to build in this day and age, if you’re smart about it. You can even use ads to speed things up (I didn’t but you could)
I started building my audience April 2017Quit my job less than 1 year later – March 2018
Grew my fitness online biz to 6 figures in 8 months – August 2018
- Sales skills! Most people don’t realize that half your job as an entrepreneur is SALES. You could have the greatest products in the world but if you can’t sell or feel icky asking people for money = You will fail. This is why a BIG part of my coaching for entrepreneurs focuses on teaching you how to SELL, and close sales with ease and flow.
- Consistency, trust = People buy from those they trust. If you’re selling high ticket products and services, TRUST is even more important. Start building it now with your audience, even if you have nothing to sell.
If you want tips on how to build an online business FAST, and live an EPIC life of freedom, joy, and fulfillment –> JOIN ME in my FREE Facebook Group FEARLESS BOSS LADIES for more tips!
Click here to join us!! https://www.facebook.com/groups/1005925919580029/
Want to work with me to grow your business, sell with confidence, and step into the powerful leader you are? Apply for Conquer, my 1:1 coaching program here. I have a few spots left for October: https://deegautham.typeform.com/to/tq6OX5