How do you max out the fun in doing the things you love? It’s pretty simple: turn it into a cash cow.
Small start-up business have become commonplace in the market today not only because they peddle uniquely novel products and services, but also sell their passion for and interest in them. But if you still have doubts about how you can do the same, here are some of the many reasons why you should tread the same path.
You know you won’t get tired of doing it, whether it brings you profit or otherwise
How bad you have the bug for whatever it is you enjoy doing isn’t going to cut it if you decide to convert your passion into paychecks. You need to prepare for the possibility of it dragging you into the red when straits turn dire. Profit won’t always coming knocking at your door, so you need to be ready to stand by that one thing you love when it doesn’t, because the moment you start losing interest in it is the moment you damn your business to permanent desolation.
You have to keep on believing that there will always be a work-around to losses. Brand overhauls and product diversification, such as this line of custom socks, are effective ways to overcome any obstacles you may face down the road. Find the weakest link in your business model, cut it out, and replace it with something that will invigorate your business and, ultimately, your profit influx.
You want other people to experience the joy of doing it
University buddies Jake Director and Riley Goodman realized that there was a need for colored crew socks in Seattle, so, in 2009, they started a small clothing company called Sea Town Lax as a way to meet the demand they discovered. Despite their lack of experience in the retail industry, they proved their confidence would suffice in sharing their passion for their concept to their customers.
Three years later, they re-launched their brand under the new name Strideline and expanded their reach to Portland, San Francisco, New York, and three other major cities all over the nation. It was their initial success in the Seattle that scored them a spot on the national stage, giving not much up to reach where they are today.
You probably understand it the most
If you truly love doing what you love, then you know how it works from the inside out. No right-minded baseball card collector has gotten successful at building his or her collection without developing his or her skill of discerning the value of cards being parlayed within their community. It’s not just about being emotionally invested in your passion; it’s also about figuring out the inner workings of its trade.
Under Armour CEO Kevin Plank has been described as someone who has “successfully aligned his brand with athletic performance because he was an athlete himself”. Without his experience as a football player, he wouldn’t have discovered the material he now uses for his line of athletic outfits.