3 Reasons Why You Need To Convert Your Passion Project Into A Business
When we speak of passion projects, it’s often in reference to something meaningful someone does in their spare time. They’re the things we turn to after a long day at work, or when we want to relax on the weekend. Passion projects can be tangible or they can be an idea or cause that we spend our time and energy raising awareness to. Anything that brings you happiness, makes you feel whole, and resonates deep within you, can be a passion project. What if we could earn money doing what we love? If you’re curious, consider these 3 reasons to turn your passion project into a business.
3 Reasons to Turn Your Passion Project into a Business
There’s an old adage, ‘do what you love and you’ll never work a day in your life,’ people love to recite. It does have a ring of truth to it. If we’re working hard at something that we truly enjoy doing, time passes quickly. While we’re in it, we don’t often give much thought to the brainpower or physical labor that goes into it. We do it because it brings us joy. What if you were to harness the joy and that immense feeling of satisfaction and use it to not only pursue your passion but also earn money while you do it? It definitely sounds like the dream job, doesn’t it?
1. You’re Spending Time and Money on it Anyway
One of the big reasons to turn your passion project into a business is to recoup some of your investment. Since you’re spending energy, time, and money on working your passion, you may as well earn from it. In the beginning, it may take a while to make back all that you’ve invested but it is possible to meet and consistently exceed your investment, especially if you’re in it for the long haul.
For those whose passion project requires little to no upfront money, turning a profit will of course come faster and more easily. If much of what your work entails can be done digitally and remotely, the transition will be easy. If you’re going to spend the time following your passion anyway, it just makes logical sense to turn your passion project into a business.
2. It Brings You Joy and Fills You Up
A challenge those in the corporate world face is working consistently, day in and day out at the same job with little to no emotional reward. It makes us feel good when we’re doing work that is meaningful to us and often meaning and purpose can be found in our passions and interests. Whether it’s a hobby or specialized skill like graphic design or writing, things that you naturally excel at or interests you pursue on the weekends are perfect for transforming into a lucrative business.
A Potential Downside When You Turn Your Passion Project into a Business
There’s always the chance that you fall out of love with what you’re doing. Burnout is real. This is why having a good work/life balance is key when it comes to any entrepreneurial endeavor. It’s easy to spend your ‘off’ time away from family and friends while focusing on your passion or interest. This is especially true and dangerous when that passion starts making you a little money. It’s easy to get caught up in the sight of those paid invoices and increasing bank account balance so build in some downtime.
It’s also possible that what you loved doing when there wasn’t any pressure on you to earn an income from it, can cause you to begin loathing that very thing you were so invested in prior. This is a slippery slope, so take care to truly think everything through before choosing this path.
3. You Can See Yourself Doing it Long Term
It only makes sense to turn your passion project into a business if you know without a doubt that it is something you see yourself doing long term. When starting a business, the willingness to be in it for the long haul is imperative. If you can commit to your passion project and know without a doubt that it’s the thing for you, then it makes absolute sense to work toward earning a full-time income working where your passion lies.
Of course, nothing is set in stone. Putting it all on the line and pursuing your passion is admirable, but it’s ok to change your mind at any point along the journey. This life is meant to be lived, on your own terms. What’s wonderful about entrepreneurship is that if something isn’t working, you can shift gears and pursue a new path. You can tweak small bits here and there until it fits your life and your lifestyle.
How to Find Your Passion Project
If you’re thinking that yes, this sounds great but, what am I passionate about? What do I care about and enjoy enough to even consider turning that into a money-making entity? The key lies in getting real about how you spend your time. There are many people who say they don’t really have any hobbies, skills, or interests. To them, I say, you’re not digging deep enough.
Everyone has something that they do and enjoy, whether consciously or unconsciously. You may spend hours each day pinning new recipes. You might clip magazine photos for home decor ideas. Consider those as interests. Think about how you could use those interests to help others. Once you figure out where your expertise can fill a need or solve a problem, you’re halfway there on your way to turn your passion project into a business.
In the last year, during this global pandemic, we’ve learned so much about the working world. Some positions are expendable when it comes time to cut costs, others are essential. We’ve come to realize that we are more than our job description. A major shift is happening. The world is changing. Figuring out where you fit will be the key to success.
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