From Passion to Profit.
You will never feel like you are working if you do something you love. The statement rings true if you have a passion and you convert it into a business opportunity.
Once you have done that, it is not enough to just sit back and say that you are passionate about your service/product, and know that it will make a difference. Eventually, what matters is making your passion count and even more importantly, making it matter to other people.
Have you done your research?
Make sure you are excellent in your niche area. If you are selling cupcakes, make sure they are the best in the business, competition is tough! It is also important to research the market, and whether it is a new line of sports gear or a pet care centre, the first rule is to study the market, understand the competition and figure out the needs of your target audience.
How does your passion look as a service/product?
You should convert your passion or idea into a service or product, and analyse the features, the benefits the service offers, your company’s business motto, and the promises you want to make to your customers. While it is easy to say you love music, you should analyze if there are any takers for music in the neighbourhood, what kind of music they would like to learn from you, the competition and so on.
Get your pricing right.
You need to make sure that your service or product has enough value to command a certain price. Do your research, take into account the demographics of the region in which you are introducing your service or product and always determine the target audience.
Preparedness, most of all!
Kick-starting your business is a large investment – both financially and with your valuable time. The more prepared you are before launching your product/service, the less you have to work at later so have a plan. You might have all the passion in the world for your service/product, but it may not mean anything to your customer. A customer is looking for a great product or service, and if you have the credentials for the same, he or she will choose you. What helps is effective marketing; you may bake the best cakes in the world, but how many people know about it? A combination of traditional and social media marketing strategies can prove helpful. Creative ways to market your service or product should help greatly; if you are into baking, you could encourage community blogging events, recipe contests on social media or baking competitions. Reward customers with coupons, discounts or memberships when they share your service or recommend it to others.
Do you have a passion?
Have you thought of converting it into a business?
Do you have a plan of action? Then you are one step closer to achieving your target.
And that’s the Dish! Until next time, Belinda
I am Belinda Bow
I love all things marketing and I thrive on seeing a business become re-energised and flourish. I am excited about life and I adore my family.
Within these articles, you’ll find some helpful tips and some real guidance to help you make the most of your business, and gain a good understanding of all things marketing.