Into Profits TURN YOUR PASSION
A Piece of Your Heart  Makes A Great Business How & Why
<ul><li>Define Your Whys! </li></ul><ul><li>How Do You Find A Career You Love .... </li></ul><ul><ul><li>To Find A Career ...
<ul><li>Define Your Whys! </li></ul><ul><li>Identify the activities that you persist in </li></ul><ul><li>“ Never doubt th...
<ul><li>I Found My Passion...Now What?? </li></ul><ul><li>Once You Decide What Your Passionate About ....  More Questions:...
<ul><li>Time For Action </li></ul><ul><li>You’ve Found Your Passion and are Ready To Define Your Business.  What Do I Do N...
<ul><li>How Does Your Passion Solve A Problem: </li></ul><ul><ul><li>Why Do Infomercial Products Succeed? </li></ul></ul><...
The Money Game  Write here what you’d like to make within one year from today’s date: $ _________ Be Realistic Here’s the ...
<ul><li>Challenges of Starting A Business </li></ul><ul><li>Develop A Business Plan </li></ul><ul><li>The “ business  plan...
<ul><li>After All This – Is It Still A Passion </li></ul><ul><li>Do you still love the business </li></ul><ul><li>Does you...
IS THERE ANYTHING BETTER THAN EARNING A LIVING, DOING WHAT YOU LOVE?
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Turning Passion Into Profits

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Turning Passion Into Profits - Speaker: Tyler Prochnow.

Think Big Kansas City 2010

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Turning Passion Into Profits

  1. 1. Into Profits TURN YOUR PASSION
  2. 2. A Piece of Your Heart Makes A Great Business How & Why
  3. 3. <ul><li>Define Your Whys! </li></ul><ul><li>How Do You Find A Career You Love .... </li></ul><ul><ul><li>To Find A Career You Love comes from engaging in activity that cultivates your desired talents, honors your innate values and serves to make the difference you truly want to make, while being both personally and financially rewarding. </li></ul></ul><ul><li>I’m doing this because.... </li></ul><ul><ul><li>Ask yourself the following questions & take 10 minutes to write down the answers: </li></ul></ul><ul><ul><ul><li>What are you doing when you feel most alive & engaged? </li></ul></ul></ul><ul><ul><ul><li>What are you doing when you lose track of time? </li></ul></ul></ul><ul><ul><ul><li>What can I talk about passionately all day long without getting bored or tired of it? </li></ul></ul></ul><ul><ul><ul><li>Identify jobs or tasks in your past that were not a good fit. Why? </li></ul></ul></ul><ul><ul><ul><li>Describe three achievements in your life you are most proud of? </li></ul></ul></ul>
  4. 4. <ul><li>Define Your Whys! </li></ul><ul><li>Identify the activities that you persist in </li></ul><ul><li>“ Never doubt that a small group of thoughtful, committed citizens can change the world.  Indeed, it is the only thing that ever has” </li></ul><ul><li>                       ~ Margaret Mead, Cultural Anthropologist </li></ul><ul><li>Identify what motivates you </li></ul><ul><li>“ To be motivated is not driven by reducing tension or avoiding frustration, but that people look for a positive view.” </li></ul><ul><li>~ Abraham Maslow, Psychologist </li></ul><ul><li>Successful people are not quitters; they just change priorities </li></ul><ul><li>“ I have not failed. I've just found 10,000 ways that won't work.” </li></ul><ul><li>~ Thomas Alva Edison, Inventor </li></ul>
  5. 5. <ul><li>I Found My Passion...Now What?? </li></ul><ul><li>Once You Decide What Your Passionate About .... More Questions: </li></ul><ul><ul><li>Is now the right time? (Is it ever the right time?) </li></ul></ul><ul><ul><li>Will your spouse, family & friends support you? </li></ul></ul><ul><ul><li>Can you explain your idea in 45 seconds or less? </li></ul></ul><ul><ul><li>Are you willing to make less than your executive assistant (in the short term)? </li></ul></ul><ul><ul><li>Are you willing to do all the work your executive assistant used to do for you (short and long term)? </li></ul></ul><ul><ul><li>Are you willing to ask your friends for favors and more? </li></ul></ul>
  6. 6. <ul><li>Time For Action </li></ul><ul><li>You’ve Found Your Passion and are Ready To Define Your Business. What Do I Do Now? </li></ul><ul><li>Basic Business Research </li></ul><ul><ul><li>Define your market </li></ul></ul><ul><ul><li>Google your passion topic </li></ul></ul><ul><ul><li>See who buys related products or info </li></ul></ul><ul><ul><li>Check out websites </li></ul></ul><ul><ul><ul><li>the look </li></ul></ul></ul><ul><ul><ul><li>the navigability </li></ul></ul></ul><ul><ul><ul><li>the products </li></ul></ul></ul><ul><ul><ul><li>prices </li></ul></ul></ul><ul><ul><ul><li>who is buying and why? </li></ul></ul></ul><ul><ul><ul><ul><li>how old are they? </li></ul></ul></ul></ul><ul><ul><ul><ul><li>men, women, children? </li></ul></ul></ul></ul><ul><ul><li>What appeals to you? What doesn’t? Make notes. Keep them in a designated folder. </li></ul></ul><ul><ul><li>Make bookmarks of sites you like or that have similar info to yours. </li></ul></ul><ul><ul><li>Down the line, these people/sites may become allies. </li></ul></ul>
  7. 7. <ul><li>How Does Your Passion Solve A Problem: </li></ul><ul><ul><li>Why Do Infomercial Products Succeed? </li></ul></ul><ul><ul><li>What are some efficient, economical ways you can solve your niche group’s problems? Brainstorm: </li></ul></ul><ul><ul><li>_______________________________________________________ </li></ul></ul><ul><ul><li>_______________________________________________________ </li></ul></ul><ul><ul><li>_______________________________________________________ </li></ul></ul><ul><ul><li>_______________________________________________________ </li></ul></ul><ul><ul><li>_______________________________________________________ </li></ul></ul><ul><li>This is only the beginning. you’ll get more and more ideas as you go along. </li></ul><ul><li>Now you have your WHY, a passion, research on other sites and opportunities out there, a niche market, and your niche market’s needs and problems. </li></ul>
  8. 8. The Money Game Write here what you’d like to make within one year from today’s date: $ _________ Be Realistic Here’s the formula where creating your income, products and marketing tactics and strategies starts: If _________ people pay __________ each per month, that’s __________ per month, and ____________ per year. PRACTICE: Assuming you have a 100 widgets: If 100 people pay $100 each per month, that’s $10,000 per month, and $120,000 per year. What does is cost you to produce and sell each product. Net out your number. You can change either the number of products or the prices. Tally it up. Decide what you’ll need to create and to sell in order to reach your projected income.
  9. 9. <ul><li>Challenges of Starting A Business </li></ul><ul><li>Develop A Business Plan </li></ul><ul><li>The “ business plan” is a roadmap that describes where you’re going and how you’re going to get there </li></ul><ul><ul><li>A guide to achieving your goals </li></ul></ul><ul><ul><li>A tool to spark investor interest </li></ul></ul><ul><ul><li>A document that helps employees understand the company mission </li></ul></ul><ul><li>Other Concerns </li></ul><ul><ul><li>Legal </li></ul></ul><ul><ul><ul><li>Business Formation </li></ul></ul></ul><ul><ul><ul><li>Taxes </li></ul></ul></ul><ul><ul><ul><li>Intellectual Property </li></ul></ul></ul><ul><ul><ul><li>Licensing </li></ul></ul></ul><ul><ul><li>Financing </li></ul></ul><ul><ul><li>Insurance </li></ul></ul><ul><ul><li>Marketing </li></ul></ul><ul><ul><li>Accounting </li></ul></ul><ul><ul><li>Inventory </li></ul></ul><ul><ul><li>Website </li></ul></ul>
  10. 10. <ul><li>After All This – Is It Still A Passion </li></ul><ul><li>Do you still love the business </li></ul><ul><li>Does your passion change because it is now a business </li></ul><ul><li>How are your loyalties affected </li></ul><ul><li>How are your relationships affected: </li></ul><ul><ul><ul><li>“ You are not my friend if you don’t buy or tell 20 people about my product. </li></ul></ul></ul><ul><ul><ul><li>How do you treat those people who offer up “If there is anything I can do, just ask”? </li></ul></ul></ul><ul><ul><ul><li>How do you react to those people who say they are jealous or who tell you they dream about starting their own business? </li></ul></ul></ul>
  11. 11. IS THERE ANYTHING BETTER THAN EARNING A LIVING, DOING WHAT YOU LOVE?

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