subject: How To Actually Earn Money From Your Passion - And Create A Business, Not A Hobby [print this page] What's the difference between a hobby and a business?
In a nutshell, the difference between following your passion as a hobby versus following your passion as a business comes down to financial transactions.
When we have a steady, consistent stream of financial transactions, that makes for a solid, sustainable business which we can enjoy and relax into.
But before you can have a financial transaction, you need to know how much you're charging. Too high or too low and you risk losing that prospective client.
And before you know how much to charge, you need to know what it is you're actually pricing. Yoga' or architecture' or photography' yes but what is the actual unit that someone can buy? How do you package it per hour, per session, per programme?
And before you know how to package your offer, you need to know what your prospective client's needs are. What are you packaging your talents as a solution for?
And of course before you know what needs you're in business to meet, you need to know who these prospective clients are who are having these needs in the first place.
So ask yourself these key questions now:
- Who do you serve?
- What needs of theirs do you meet?
- How can you package your skills to best meet their needs?
- What price is right for that package?
I cover aspects such as these in my FREE telecall - "How To Turn Your Passion Into A Profitable Business: Top 10 Tips"
