Today, we are living in a country where many things are now possible. No longer are we relying on jobs alone, and in Nigeria today there are around 3 million people starting a new business every year.
Security in the traditional job life is not what it was, so it may be worth thinking about an alternative. The truth is that, what was once a great job could now be a temporary gap.
Many people call me to discuss that common question, “what business should I start?” They are often surprised when I answer them by asking them the question “what is your passion?”
This is mainly because they think the business they should start and what they love doing are mutually exclusive. Aligning the two can be more fulfilling and more successful.
Make no mistake, starting a new business enterprise is no easy task. It often involves working long hours for many years before a business owner is finally rewarded for their efforts.
So, it is very important when you choose your business, you choose something that you are passionate about. It makes putting in those long hours and extended periods of effort less stressful and much more fulfilling.
Working on a business that you are passionate about helps to keep you motivated and less likely to stray from your original vision. The benefit of remaining focused and not straying from your vision is achieving it that much faster.
Are you tired of your boring 8 to 5 job? Are you ready to change careers and do what you love for a living?
I made such a decision a few months ago, and I know very well the challenges that come with it. The excitement is high, but if you don’t make enough money from it, quitting seems like the only option.
Not to waste your time, here are 5 tips to turn your passion into a profitable business in Nigeria.
Do you like writing? Have writing ever been your passion and you are willing to do it for life if only you can be getting paid for it? You can work from home as a freelance writer like me. Be sure you are ready and experienced for it. If you’re not, kindly contact me for mentorship.
You can cover all kind of texts for online publications but some of them require expert knowledge on the subject. However, you can write about things that you know like food, travel, gossip, fashion, business etc.
You can earn money by following your passion. You just need to learn how to pitch webmasters and editors of online journals for freelancing gigs.
Start a Blog
Do you have a passion or hobby you will like to talk about? Would you like to share your thoughts with more people or get more friends similar to you? In this case, you should be a blogger. You can start your personal blog with all your thoughts pictures, videos, articles and links and then sign up for Google AdSense which will post some sponsors in your blog related to its topics.
Bear in mind the key is to get people click on those ads. The more clicks and views, the more money you will earn. If your blog is interesting and gets lots of followers, companies will approach you to reach your fan base with advertisings around your blog.
This needs some time to invest but it is worth and you can enjoy a lot. Don’t forget to be attracting if you want to earn money.
Another option on how to turn your passion into a profitable business in Nigeria is to come up with products that you could sell that relate directly, or indirectly, to your passion.
For example, if you have passion for fashion, you could open a brick and mortar boutique or an online fashion store, where you sell other designers’ clothing.
Or, for a gardening passion example, you could open a floral shop, or a nursery that sells trees or outdoor fountains or specialty tools and supplies, or you could open a produce stand at your local farmer’s market.
Don’t Count on Passion Alone
Before launching your passion business, do a reality check and make sure you have the other components needed for success, such as a willingness to work hard and a market for your services or products.
Sometimes passion can blind you to the potential downside of your idea. The one non-negotiable factor for any sustainable business is that they solve a problem for a specific customer segment in a way that is appreciably better than the next best alternative.
Get as much feedback from potential customers as possible. No matter how great you think the idea is, you still need to understand what your market thinks.
Expand Your Passion
When you start a business based on a personal interest, it can be easy to assume that the business must remain on the same track to maintain your dedication. But the most successful entrepreneurs understand that change is good and that there may be more than one way to meet your original goals.
As for me, I am planning on creating an educational fun app. I recently got an idea that I wish to take my next adventure on. I want to expand my passion in another sector. I am seeing lots of opportunities for growth in different directions.
Always open to new ideas, you have to be willing to stretch and grow in ways you may not have imagined at the beginning.