Why following your passion won't make you money
 

Why following your passion won't make you money

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Why following your passion won't make you money. What you must do first.

Why following your passion won't make you money. What you must do first.

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    Why following your passion won't make you money Why following your passion won't make you money Presentation Transcript

    • Why Following Your Passion Won't Make You Money
    • Many people talk about following their passion and how they were able to make money out of it. However, the most important ingredient that makes the difference between success and failure is left out!
    • Personally I strongly believe that you should base your online business on something that you have an interest in and preferably some skills too. There are huge benefits of doing so.
    • However, I make it very clear that you need to have done your research first before following your passion.
    • The Most Important Step To Success If you are really passionate about something you are unable to see things objectively. You can easily believe that there are lots of other people who also follow your passion and therefore you start to build a business based on an assumption instead of proven research.
    • So the second step it to make sure that there are buyers in this niche. If there are already people buying information in your niche then you know that is it profitable.
    • A Profitable Idea First you need a demand for your product. I create information products and therefore will talk about that. So you need to know that there is a demand for information in your particular niche that you are considering.
    • Are there lots of people who need that information? That is the first step but that alone does not tell you if these people will be willing to actually spend money to get that information!
    • So the second step it to make sure that there are buyers in this niche. If there are already people buying information in your niche then you know that is it profitable.
    • Will It Work For Me? So once you know that your idea is profitable how do you know if it will work for you? Ideally you need to give your information a slightly different angle to what is already out there. Don't think about competing – think about doing it differently.
    • If you produce your information product differently then you eliminate the need to compete. So what is lacking in your niche? How can you improve on what is already out there?
    • Those are the questions you need to ask yourself so that you give yourself the best chance of success.
    • If you found this helpful then you might like to visit my website: KayFranklin.com (Free download available)