The world of business is quickly shifting and changing. As modern technology continues to improve and customer’s needs and problems are satisfied in innovative new ways, so too is the digital business environment progressing.
Business and professional services have now moved online. This has made business activities easier overall thanks to the convenience of the internet and relevant digital tools. And writers today, in particular, have a huge opportunity to turn their craft into a successful online business, especially if they’re passionate about a particular topic or niche.
If you’re a talented individual who loves to write, you can use your passion beyond just being a hobby and start creating awesome and valuable content that can benefit people in specific industries and or in the general population.
Let’s talk about a few key ways you can create a business out of your hobby.
Setting up a blog is a basic step to monetizing your writing hobby. Purchase a domain name, pay for a hosting service, and install Wordpress blogging platform. You can find lots of YouTube videos that'll help you quickly understand how to set up a blog and online tutorials on how to succeed at blogging.
Once you have it done, start writing. Create a content marketing strategy by doing the following things:
This is known as affiliate marketing. It is one of the most profitable ways to monetize a niche blog. With affiliate marketing, you recommend products and or services you love to your followers and subscribers. Since you’ve already established yourself as an authority in the field and your audience trusts you, they will buy the products. When you make a sale, you receive commissions from the product owners, affiliate networks like CJ Affiliate or e-commerce marketplaces like Amazon—it could be 10%, 50%, or even 80% of the sale.
With time, your blog and overall brand presence will improve. More people will be reading your content, and even more will be interested in getting a premium product from you—that high quality product that you and only you can create. You can choose to write a niche tutorial or digital e-book and self-publish it on Amazon or Clickbank.
By creating a product, you’re getting a lot of flexibility and lots of opportunities to make extra cash. Some affiliate marketers will probably be interested in your product, so they’ll promote and sell it to their followers in return for a commission from you.
This is a common strategy used by many professional bloggers/writers. For example, a seasoned web design website owner who also writes for his niche blog can be approached by other web designers who would love to get training or mentorship services. With this strategy, you can offer your professional services through Skype conversations or other live video conversations and get paid for it!
I’d suggest having a little bit of experience before approaching this monetization strategy.
Turning your hobby into a successful business is totally possible. Many creative people have done it. Consider Walt Disney, Mark Zuckerberg, Gary Vaynerchuk and J.K. Rowling; all successful creatives who have generated millions from their passions and hobbies.
You can do it too. Develop a strong online presence and, with proper branding, you’ll be able to make a successful business out of your passion.
Spotlight book of the month
by Daymond John
If you are a fan of great stories about how entrepreneurs have risen from humble beginnings to start successful businesses from scratch, The Power of Broke is a must read.
Shark Tank star and Fubu Founder, Daymond John embodies this in true form through his origin story and inspiring rise to fame narrated within The Power of Broke.
This motivating business book will give you a boost, and help you scrape, hustle and dream your way to the top.
Have something to say about this article? Share it with us in the comments section below.