EPISODE 64 & 65 - HOW TO TURN YOUR PASSIONS INTO A PROFITABLE BUSINESS - UNCOVERING YOUR PASSIONS & MONETIZING YOUR IDEAS - PART 1 & 2

A female entrepreneur is identifying her gifts and passions and strategize ways to monetize them in her business.

Time to Turn Your Passions into a Profitable Business!

LISTEN TO PART ONE HERE:

LISTEN TO PART TWO HERE:

If you’ve ever wanted to know how to make money doing what you love, Today's episode is for you!

Whether you already have a business, pivoting your business, starting a new business or starting from scratch, in this episode Danielle shares how to uncover your passions and monetize your ideas!

Grab a notebook because this episode is going to be really tactical and practical and Danielle gives you some homework on what you can do to make your passions profitable!

Uncover or identify your passions

  • Questions to ask to identify your passions:

    • What are you good at?

    • What fulfills you?

    • What gives you energy?

    • What truly matters to you?

    • What things come naturally to you that are hard for other people? (We all have God-given gifts that are unique to us.) We often downplay our strengths because we assume they come naturally to others!

  • Take some time to sit down and write down your answers to these questions! Think about things that brought you joy throughout your life - write them ALL down! It will open your mind to the possibility of creating a profitable business that fulfills you and brings your passions together. 

  • If you already have an existing business, identify those passions, and then look for opportunities to incorporate them into your business. 

Create a monetization plan around your passions

Now it's time to look at your list and think of as many ways as possible that you can make money! Danielle has split this into six steps:

  • Step 1. Make a list of 100 things you can do to earn an income - Don’t hold back - write down EVERY idea, even if you think it is “silly”, then split your ideas into three categories (a fun, visual way to do this is write your ideas on sticky notes):

    • Category 1. The ideas that make you really excited / things you can actually see yourself pursuing RIGHT NOW. Feeling scared about an idea is a good indication that you are on the right track! The things that fulfill us are often so far out of our comfort zone! So take those scary and audacious ideas and put them at the top of your list. Don’t hold yourself back, no matter how unqualified you feel to pursue your dreams. Our strengths shine through when we take action on the scary things. 

    • Category 2. The ideas that sound exciting & fun, but are ideas you don’t want to pursue right now, but want to do further up the road, either because you don’t have the capacity or time for, etc. 

    • Category 3. The ideas that are not that exciting to you.

  • Step 2. Choose something from the first category to pursue that would create more opportunities to pursue other passions on your list! For example, Danielle’s podcast fell into this category for her and has continued to open doors for other passionate ideas like coaching and connections. Make sure that the idea you choose helps you to shape the kind of lifestyle you want - ie, if you want to have flexibility, make sure your first focus actually gives you flexibility.

  • Step 3. Get clear on WHO you want to serve. Ask yourself “Who is my ideal client / customer?” and “What does my ideal client / customer want?” Find how you can tap into your ideal client’s desires, and understand their dreams and fears. Then, you will be able to speak to them on a level that they understand, connecting with them on a heart level, rather than a surface level. With this approach, you’ll be able to speak to their pain points effectively and motivate them to take action to utilize your product/services to solve their problem.

  • Step 4. Attract your ideal clients. KNOW, LIKE, AND TRUST. What is your marketing strategy? Where are your ideal clients active? Is it on social media, Google, at a particular location? What platforms are they using? Do your market research! You can also get in front of other audiences utilizing influencer or affiliate marketing OR collaborations. You can also explore avenues like paid advertising. Show up where these clients are and build a relationship and trust with them (through email lists, etc). If you are a solo entrepreneur, tackle marketing one strategy at a time. Build this strategy, work towards automating and outsourcing it, and then you have the freedom to focus on another strategy. Ask yourself “What is going to have the most return on time invested?”

  • Step 5. Become confident in sales. Shift your mindset from making sales to problem-solving and serving your clients! Ask yourself how you are making their lives better? Approach your sales with an abundance mindset and you'll be able to feel good about your business.

  • Step 6. Have a growth plan. How can you grow your business in a way that gives you back your time and increases profit? What can you streamline, automate, and outsource? How can you make your business scalable? This will look different based on what you offer (service-based vs product-based). Create a profitable workflow so you can wake up and know what your profitable action steps are daily. As you grow, focus on the things that light you up and automate/delegate the things that drain your energy.

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TRANSCRIPT

Welcome back to the business babes collective podcast. I am your host, Danielle Wiebe. I'm so excited that you're here today. If you have ever been curious about how to make money doing what you love, we are diving into this topic today. So grab a notebook or, you know, let's be honest. You're probably on the go right now.

Maybe you're driving or working out, or maybe you're pushing a stroller around while you're taking a walk with your little babies. Make some mental notes and then even maybe listen to this a second time. So you can actually dive in and do this process because this episode is going to be very tactical and very practical.

I'm gonna give you some homework on what you can actually do to make your passions. Profitable. So I'm really excited for this episode. Let's go ahead and dive right in. Welcome to the business babes collective podcast. I'm your host, Danielle. We in this podcast, you'll learn tangible business tips and strategies.

On how to grow successfully and sustainably. We'll also interview seasoned entrepreneurs. So you can listen in on their stories and see behind the scenes of what it took to grow and scale their businesses. Let's dive in. As we discussed the wild, exciting, crazy challenging rollercoaster ride of entrepreneurship.

Hello friends. Thank you so much for being here. I am really excited to dive into what we have to talk about today. If you are either wanting to start a business, maybe you're pivoting your business right now. Maybe you're starting something new or. You might even be launching a second business, or maybe you're just wanting to bring more passion into the business that you already have, whatever that situation is.

This episode is for you. My friend, I can't wait, but before we dive in, I wanted to let you know some really exciting news. We have decided to bring back our action takers club bonuses from now until the end of may. So that's until next week. So act fast. If you're interested in joining us for those of you who are new around here, action takers club is our signature business program and our community that is designed to support you on how to scale a profitable business without working around the clock.

So the bonuses that we have going on right now, Our our profitable workflow system. So it's a video training that teaches you exactly how to create a profitable workflow for your business. So it's really awesome because you can actually know exactly what you need to be working on every single day. And you can.

Literally copy and paste our workflow, our systems, and make it work for your specific business. And the second bonus is our automation toolkit, which is a resource I created where I share all the tools that we personally use in our business and ones that our clients use as well to streamline and automate.

Some of their businesses to save them time and money so that you can go back to doing what you love to do. Go back to scaling your business, being, you know, that person driving the business forward. Instead of getting caught up in all the weeds, most of the time, if there's like a repetitive task in your business, there's a way to automate it and streamline it.

And so that's why we created this specific bonus. So these two bonuses are available when you join action takers club right now. And if you are. Unfamiliar with what action takers club is. Again, it's our program, which has training modules as well as it comes with an incredible community. So we have weekly work sessions, month group coaching calls, as well as virtual networking, where you can connect with other incredible women.

Who are on the same journey as you. So if you are looking to scale your business and you wanna be surrounded by other inspiring women who can keep you accountable and support you, and you also wanna get coaching from me, we have monthly group. Group coaching calls, where I can actually help you strategize on the next steps that you're gonna take in your business.

So if you're curious, you can go to business vapes, collective.com/action takers club. We also have a free masterclass there. So if you wanna learn even more about what we teach inside the program, there's also so many takeaways just from that class alone. So please get access to the free class. Like if nothing.

Get access to the class because it's free and you guys action takers club is so affordable. Honestly, I've debated several times doubling the price because of how much value is in this program. Not only do you get the course content, but you also get support for myself and my team where we connect you with the most amazing community and help you to grow and scale.

So I would love to see you inside. Such an amazing community in there. And we'd love to welcome you with open arms. So now let's go ahead and jump into the episode today. I wanted to start with this amazing quote that I absolutely love. So it's by Howard Thurman and he says, don't ask yourself what the world needs.

Ask yourself, what makes you come alive and go do that because what the world needs is more people who have come alive. How amazing is that quote, like, I love that so much. The reason why I love it is because, you know, a lot of people will say, don't follow your passion, or don't try to make money from things that you love because can't make an income from it, or you're not able to make it profitable.

And I wanna actually challenge that a bit. Yes, there's, there might be some things that are your passion that maybe you just wanna, you wanna stay your passion, right. Things that you're passionate about, that you just wanna keep as a hobby. And that is great. And that is amazing. But I also think that things that you are passionate about, that you're excited about that make you come alive, can also be tied.

To your business, what you create to actually make an income and also ultimately make an impact in this world. So today is gonna be all about part one. So we're gonna break it down into two different parts, cuz there's a lot to cover within this topic. So today we're gonna be talking about uncovering what your passions actually are and then creating a monetization plan around that.

So let's go ahead with number one, which is the steps to turning your passions into a profitable business, which is identifying your passions. What are you actually passionate about? What are you good at? What fulfills you? What gives you energy and what truly matters to you? I believe that we all have God-given gifts that are unique to us.

Right. There's things that come naturally to us that are probably hard for other people. so, you know, it's easy for you to think, oh, I don't know. Yeah. I might be good at that, but I think everyone else is good at that too. Or I feel like this isn't really that special. Maybe, you know, maybe I'm talented in this, but I don't think that this is something that I'm particularly better than anyone else at.

We often downplay are strengths because we think it should come naturally to other people, but often it doesn't. So think about the things that you might be good. Maybe you're a fabulous cook and maybe, you know how to put flavors together or, you know, make meals taste absolutely incredible. Maybe you love hosting dinner parties for your friends, bringing your friends together over a meal.

Maybe you are, you know, are amazing at meal prep and you meal prep like a boss, you know exactly what to buy at the grocery store. How to prep meals for your entire week. You're super organized by the way, if anyone is that person, I personally need your help and I will be your first client because. I am not good at meal prep.

I wish I was, but it's just not a talent that I have. So maybe you're really great at, you know, relationships and potentially you're a mom and you're really good at having a great relationship with your kids that comes really naturally to you. You're a pro at, you know, coming up with fun things to do as a, as a family or with your kids or how to communicate with them in a way that's productive.

And, um, maybe, you know how to. Deescalate tantrums when your kids are acting out, um, maybe you love numbers and anything to do with, you know, algorithm or statistics or accounting. Maybe you are amazing at making spaces look beautiful, or maybe you're really artistic and creative. And you, you know, you love creating beautiful products or art pieces, or maybe you're just really talented.

Sourcing different products and ordering them and curating them into an online shop that can serve your ideal clients. So there's so many different things that you could be talented in or that you could be good at. So write down a list of all of those things. So I'll give you an example of things that I'm passionate about and things that come naturally to me.

So for me, I love people. I love community. I love bringing people together. I think a natural strength of mine is making people feel welcome. Making people feel included in university. I was on the business association and I would help plan events. And I loved the process of planning and marketing and executing an event.

It honestly brought me so much excitement and energy to be able to do that. And I also love. Business. Like, I love being able to brainstorm and strategize and help other people be able to scale their businesses. And I feel like I have a really creative mind when it comes to business and overcoming challenges and marketing and specifically.

I love, um, helping businesses collaborate and work with other businesses in order to scale and grow and get more visibility as well. I love creating mutually beneficial partnerships. And it brings me so much joy when I can give someone else an aha moment. Like when I can help them come up with an idea or a strategy or a launch plan, whatever that might be.

It honestly brings me so much joy. And I just like, I get so much energy from that. so those are some examples for me. So I would love for you to go ahead. If you wanna pause this episode, you can right now and write down a list of passions. What are you passionate about? What do you feel like you're naturally good at?

I also wanna share too, like. This can be really diverse. So for example, I am passionate. Yes. I'm passionate about all those things. And those are the things that stood out to me the most. When I first, you know, wrote down the list of things that I was passionate about, cuz I wanted to do this exercise as well.

If I was gonna get you guys to do it, I wanted to do it too. So I did this exercise and the first things that I thought of were things that I'm actually already. Kind of doing for my business, cuz I've been able to create a profitable, sustainable business for myself based on things that I'm passionate about.

But as I started kind of digging in and thinking like, okay Danielle, but like what other things are you passionate about? I started thinking of. Other really random things. Like, for example, I love travel. I really love food and not necessarily cooking it, but , I love eating food, but I love wine. I love coffee.

I, this is kind of random, but I really love theme parks, like roller coasters, you know, those like spiny crazy flippy rides. Make most people wanna throw up. I'm like, bring it on. Like I love . I love those rides so much. Some of my favorite childhood memories are when our family would go to theme parks and just like, go on all the crazy roller coasters and all the flippy rides and like that, I'm just like, in my element.

I love it so much. If I could do like a business retreat at a theme park, I would just be so pumped. Um, maybe I'll put that on my bucket list but, but in all seriousness, like I have so many different types of fashions. Um, when I was younger, I was really passionate about. Water skiing. I grew up in a family and specifically my dad was really into water skiing.

And so we grew up going to competitions. We would go to water ski camps in the summers. And then, so that was in the summer. And then in the winter specifically, my mom's really passionate about snow skiing. So we would go snow skiing and you know, those were some of my passions growing up. And at some point I thought.

Uh, when I was younger, I thought maybe I would be a coach, like a ski coach. Right. And that could potentially, you know, still be an option for me. If I got back into skiing, I just do those things for fun. Now I'm obviously not competitive, but the reason I'm sharing. All of this with you is because it's really good to put all of those things down onto paper.

All of the things that bring you joy, all of the things that you're passionate about, write it down because when you do this, you really open up your mind to realize how many possibilities there actually are to create a profitable business based on your passions. Right. Sometimes I think we can get just so caught up in like, oh, this is what this person's doing, or this is what that person's doing.

So I have to just replicate what they're doing and do it exactly the same way. And I wanna encourage you. Like, no, you don't, you can be creative. You can do your business in a way that brings your passions together in a way that fulfills you in the way that's really profitable for you. in a way that just like lights you up and gets you excited to jump outta bed in the morning.

Right? If you are currently feeling like you're, you're dragging your feet when you're waking up in the morning, or you're not feeling inspired, you know, it's not necessarily that you are not passionate about your business. But maybe you need to bring some of the passions that you currently have back into your business, or remember, you know, why you started your business in the first place and maybe writing down this list of the things that you're passionate about.

It will either help you to bring some of that back into your life, whether it be just as a hobby or maybe you can bring some of it into your actual business. So for example, let's say you have a product based business. , you know, over the past couple of years, obviously due to the pandemic, you know, you've been really isolated and maybe you are extroverted and you love people.

How can you bring that community aspect back into what you do? So could you sign up for some, uh, vendor opportunities or markets where you can be in front of people and. And connect with your ideal clients. Could you host a V I P party for all of your, you know, clients, could you pop up at a local store or maybe it's just even attending like an in person event or networking, whatever that is joining a mastermind or joining, you know, our community or someone else's community where you can connect with like-minded individual.

Who are on the same journey. So, you know, bringing in some of those pieces of what you're passionate about back into your business is so important so that you don't get caught up in all the weeds and feel overwhelmed and burnt out. You wanna make sure that you are bringing in some of those things that you're passionate about into your business.

Even if you already have a business now, All right, flipping the script back to those of you who maybe you are again, starting from scratch or you're figuring out, you know, what's next for you. You're doing a pivot. Let's talk about the second step in how to turn your pro passion into a profitable business is figuring out how to monetize your passions.

Okay. So you have your list. Hopefully you've paused this episode, you've written down a list. All of your passions, right? And now you want to think of as many ways as possible that you can actually make money. So what are all the ideas that you have around how you can make money? And these are gonna tie in some of the passions that you wrote about at, in the first step.

You're gonna tie those in to your ideas. So I've done this with some of our mastermind members and some of the clients that, that I work with is okay. Make a list of a hundred things. That you could do to earn an income or, you know, launch a business or maybe an aspect of your business. Right. So a hundred ways.

Now, the reason I say a hundred and again, a lot of times, like I've done this, um, with some of my clients and they come back, they're like, okay, I have 50. I'm like, okay, great. Right. Um, if you can think of a hundred. Awesome. If you can only come up with 50, that is 50 ideas, which is amazing. So, but shoot for a hundred, see where you end up.

Now, one thing that I think is really important is to not hold yourself back. So write down every idea that comes to your mind, even if it's a, you think it's a silly idea. You're like, ah, that's not really that great of idea. Write it down. Like don't hold yourself back. Just let your mind. Be creative and open yourself up to all of the different possibilities of what you could do.

Okay. After you have your a hundred things, this is where it gets really fun. This is where you actually categorize those hundred ideas into three different categories. This is awesome. I've done this actually. with a couple of different, um, mastermind members or one-on-one clients that I've worked with.

And so one of the ways actually, I really loved what one of our mastermind members did. She wrote down all of her ideas on sticky notes. And so if you wanna do that, you can totally do that. Write all your ideas on sticky notes and then, or you can just, you know, take the list and go on a separate piece of paper and break it down into the three different categories.

So these are the three different categories that you're gonna. Number one is things that make you really excited and things that you could actually see yourself pursuing, like right now, things that are like, oh, that would be so cool. I could so see myself doing something like that. Now this might be something that gives you butterflies.

Like it might be pretty scary, something that's like, Oh, that would be really cool to do, but that really makes me, you know, feel scared or, or excited. That is actually a really good indication on that's probably something that you definitely should pursue because anything that we do in business and in life, that is a little bit scary.

It's a little bit outside of our comfort zone. Most likely the things that scare us the most. Are the things that are gonna fulfill us the most as well. So this is my permission slip to you to take those scary goals and actually put them at the top of your to-do list because often those scary, audacious, like bold things that we're like, oh, that would be so cool to do one day.

Those often get pushed to the bottom of the list. I'm encouraging you and challenging you to put some of those things at the top of your list. Because I think that often we hold ourselves back because we think we're not ready. We're not qualified enough. We don't have enough experience, whatever that is, but often.

those are just lies, honestly, like if we actually pursue those things, that's where we're gonna find a lot of passion, a lot of excitement, a lot of joy, a lot of fulfillment. And often some of our strengths will actually shine through the most when we take action on those scary things. So that is the first category.

The second category are things that sound really exciting, really fun, but it feels like something that you dont. Really wanna pursue right now. And it might be something that you would love to do five years from now, or 10 years from now. And it's on your bucket list, but you know, you don't wanna pursue it right away.

And again, it's not that you it's something that is too scary or whatever, but it's more so something that you're like, Hm, that would take a little bit more of my time or my energy that maybe you don't have capacity right now. Cuz maybe you have young kids or you know, your schedule doesn't allow it, whatever that might be.

Put that in the second category. and then the third category is things that are not really exciting to you. So you wrote it down on your a hundred things basically, so that you could get yourself to a hundred things , but you're not actually that excited about it and you don't really wanna pursue it. You can't really see yourself doing that as a career choice or.

You know, something that you would do as a business. Okay. So those are the three different categories. So once you have all of your a hundred things in those three categories, then you wanna make sure that you choose. So from that first category, what is something that you would love to pursue? Something that would be really exciting that you could actually see yourself pursuing right now, and something that could make a lot of the other things that you have on your.

Possible for you. Right? So something that if you pursued that one thing that would actually make a lot of the other things that you're passionate about, a lot of the other things that you, that you eventually wanna pursue, make those much easier. So I'll give you an example. For me this podcast, right?

This is something that I am really passionate about. I love to build relationships with you. The listener, I love having guests on the podcast, interviewing them. I, I love the fact that this is so flexible for me, that I can work it around my schedule. And also this podcast allows me to do a lot of the other things that.

Do for the business. So it allows me to promote our programs that we offer action takers club or mastermind, coaching, hosting events. And so this platform of the podcast allows a lot of the other things that I do. And a lot of the other things I'm passionate about allows that to actually flow into each other.

So. hopefully that makes sense. And so something also, I really wanna point out here is making sure that what you are choosing to pursue first is aligns with the type of lifestyle that you wanna have. So for example, if you want a lot of flexibility, let's say you wanna stay home with your kids or you want.

Only wanna work three days a week, make sure that the thing that you wanna pursue. And the thing that you're gonna choose to focus on first is something that you can actually do while still staying, staying true to the lifestyle that you wanna live. Something that you can weave into potentially your already busy schedule, right.

And something that you can scale as well. All right. Step number three, on how to turn your passions into a profitable business. Really getting clear on who you wanna serve. So who is your ideal client and customer and what do they want? So depending on what you chose of the thing that you wanna focus on, first, something that you are passionate about, but that could also be profitable for you.

Who is the ideal person for that thing. So let's say you want to launch a podcast or a blog or a YouTube channel, or maybe you want to launch a new product, whatever that might be, whatever the business model is and how you're gonna make an income, who are the ideal customers or clients that you would wanna.

Now, figuring that out is really, really important because something that we dive into very deeply inside of action takers club is getting clear on who your ideal client is. Making sure you're super clear on that and you understand what your niche is and who you wanna. Serve. And then after that, it's figuring out what do they truly want?

What are their desires? What are their fears and anxieties, and you really wanna understand them because the reason for this is because often as business owners, you know, we focus on. What we know our ideal client needs instead of focusing and honing in on what they want. Now we know what they need. And so we tend to put all of our energy into talking and marketing in a way that is like, you need this, you need that.

The thing is, is that they're not gonna listen. If they. They don't know that they need that thing, but they know what they want. They know what their desires are. And so if you can tap into that and you can really understand who those people are, what they want, what their fears are, what their anxieties are.

You can speak to them where they're at. And the cool thing about this is that you can speak to them on a level that they understand, and you can truly connect with them on a heart level instead of just a really surface level. So often what I encourage our action takers club members to do my clients, our mastermind members is get so clear on who your ideal person is that they feel.

Like you are in their head, right? You wanna know the conversation that your ideal client has inside of their mind. And you want to be able to speak to that because if you are creating incredible value, whether it be a product or a service that you know, can solve someone someone's problem, you wanna be able to communicate how you solve their problem.

And that. How you're going to be profitable because you cannot be profitable if you are not reaching the right people with your product, with your service, with your podcast, your blog, whatever it is. If you're not reaching the right people, or maybe you are reaching the right people. But you're not speaking their language.

There's a disconnect. There there's a breakdown in your communication or in your marketing, in your messaging. And so they're not motivated to take action on what you have to offer. So you are not making sales. Right. So the important part is, is that you really have to understand who that person is, how you find them and then how to communicate to them.

And like I said, we go into a lot of depth into this inside of action takers club. We put a ton of emphasis on it, cuz this is one of the most important parts of building a successful. Profitable business. So that is number three, step three, into how to turn your passions into a profitable business. Join us tomorrow.

we are going to dive into number four, number five and number six, the steps on how to turn your passions. Into profit. And I wanted to break this down so that you could really digest this content. So take today and really dive in and do this exercise. And then tomorrow I'm gonna give you the last three steps.

So until tomorrow, until next time I cannot wait to see you again on the podcast. Make sure you are subscribed so that you don't miss any of our episodes. And also. If you haven't yet left a review of the podcast, I would so appreciate that. If you are getting value from these episodes, would love to hear your feedback would love to hear what you're loving, what you wanna hear.

More of all of that and share this episode with a friend. If. This is valuable to you and you know, anyone else who is either in the midst of scaling or growing their business, or maybe they want to start a business and they need some direction, they need some support, send this episode their way, um, so that they can learn and grow as well.

So thank you so much for listening. We'll see you tomorrow. Have an incredible rest of your.

If you love this episode, make sure you screenshot post and tag us on Instagram at business. Babe's co want to know when the next episode goes, live, subscribe on your podcast app. And while you're there, save us a review until next time. Keep dreaming big setting goals and taking action.

Danielle Wiebe