We all have things that we are passionate about. These are the things that we are drawn to naturally because we enjoy doing them.
Imagine if you could turn your passion into a profitable business. That’s like doing what you love to do anyway, and earning some money from it. Isn’t that the dream of every American entrepreneur?
Spend a few moments reading this article, and I am sure you will be able to pick up some valuable tips on how to turn your passion into a business.
In today’s world, money-making opportunities are endless. You could be passionate about virtually anything, from arts and crafts, to gardening, children, or social media platforms, and you could be making money out of it. All you need are the right tools and the right mindset, and you could be on your way to creating a successful business of your own. Here are a few things to consider before you start turning your passion into profit.
Why green business?
Going green is in. We hear this all the time; green businesses and products are gaining popularity. Many big business are already using green business practices and strategies when manufacturing and marketing their products or services. So what exactly is a green business?
The definition of a green business given by businessdictionary.com is – “A business functioning in a capacity where no negative impact is made on the local or global environment, the community, or the economy. A green business will also engage in forward-thinking policies for environmental concerns and policies affecting human rights.”
GreenAmerica.org says “Green businesses adopt principles, policies, and practices that improve the quality of life for their customers, their employees, communities, and the environment.”
However, the definition of a green business or sustainable business can vary depending on who is defining it.
Do you agree with the definitions of a Green Business above? You may have a definition of your own. Please add your definition in the comment box below.
Choose the right business niche
You need to choose your business niche carefully because choosing the wrong niche would cost you valuable time and money. Asking yourself what you are really passionate about, or what you like to do on a Friday afternoon, may be a good approach. For example, your answer might be that you’re passionate about cars, animals, the outdoors, clothing, arts or movies. Pick one that is in a profitable niche market. You need to look for an intersection of your passion, product and a profitable market where you can fit in.
For every product or service in the market today, there is a green alternative available, that you can start your business in.
Ivana Taylor – Marketing Advice for Small Business, a DIY Marketing Expert, Marketing Strategist and Small Business Marketing Adviser, says that asking yourself what you’re committed to is a much better question. If you can answer this question in a full sentence, you can get much closer to a profitable niche market. For example your answers could be “I am committed to helping people with their health” or “I am committed to spreading awareness about the environment”. All of these could generate great new ideas.
However, finding an intersection of passion, profit and product isn’t always simple. You need to put hard work and effort into it and brainstorm your passion and ideas to find a profitable market. If you have a fantastic business idea and you are passionate about it, that’s great, but at the end of the day, you need to make sure that your idea is profitable.
“Pursuing a passion that doesn’t pay can really put you, your business and your family into financial jeopardy.” – How To Find Your Passion And Turn It Into A Profitable Business | OPEN Forum
Specialize in your field
Specializing in your field and informing others about it will get your business off the ground quicker. The world today demands specialization and the more specific you are with your business niche, the better you can become as a professional. People are looking for experts, and want to get service from a company that specializes in the field. Choosing a narrower niche will help you to gather more experience and become an expert in your field more easily.
Choose a product or service that has less competitors
When you are trying to choose your niche you also want to make sure that there is less competition in the market. You especially don’t want to compete with the big companies. Also try to focus your business on a smaller area, and start small, preferably around your home town. There might be many sustainable businesses nationwide, but the idea of sustainability may be new in your home town.
There is really an infinite amount of possibilities, so research your market, and find something that you can really excel in.
What are you going to do differently?
So if you have an idea that no one has done before, you will have to educate and show people how your idea is going to be different and benefit them compared to other similar products on the market.
If your ideas are already being used, think of ways you can do it differently. For example, there are many companies that hang gutters, but your company could hang gutters made with recycled aluminum. Now that could be a new approach to a green business.
Your products and services need to be just as good as conventional products and services, with an added bonus of sustainability.
There are many simple ideas that can be turned into a green business. Some use recycled paper, reusable or recycled materials, reusable energy resources, and green, eco-friendly products and raw materials.
The best way to make money is to use your passion and talents. Find your true love, and put your passion to work. It takes a lot of patience and hard work to overcome the obstacles in your way. With a little experience and some advice from your friends or mentors, you will surely become a successful business owner.
Do you have a passion for the environment? Why not start your own green business? We can show you how. Click here and get your free eBook to Unleash the Entrepreneur in You!.
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Source: Institute of Ecolonomics
Related articles:
- Top 6 Business Ideas for Green Entrepreneurs | Nourish The Planet
- Promising Alternative Sources of Clean Energy: Wind and Solar | Environmental Professionals Network
- How To Find Your Passion And Turn It Into A Profitable Business | OPEN Forum
- How to Promote Your Business as a Green Business | Nourish The Planet
