Expertise and passion are two key ingredients that people fail to utilize in making profit. These two things open up a wide range of opportunities for business. But many people fail to see their value. Many people dismiss what they are good at and what they like to do. Sometimes it’s because they’re already so accustomed to that area of expertise that they don’t notice their skill. Sometimes it’s out of a false sense of humility.
But the truth of it is that everyone –including you—has innate talents and gifts that can enrich every aspect of life. Expertise and passion won’t just help you process in general, it can also be a source of income as well.
To effectively use them for profit, you should be able to examine yourself, your market and translate that to success.
Defining and Describing Yourself
Defining and describing yourself is key to finding your expertise and passion. Discover your true talent among all of your natural abilities. And by doing so, you can enrich yourself financially.
So start by describing yourself. It’s a simple exercise of listing many, up to several hundreds, of descriptors. For example, you can begin with your basic details: “I am a man, father, and husband. I love pizza, wings and Indian food, and I love watching sports. Company, and I have two degrees. In my free time, my hobbies are…”
This gives you an idea of what you can offer. When it comes to expertise and passion, keep in mind that the target market has a lot of wants and desires, and a lot of money to spend. They want to get to know you and what you have to offer.
Another way to concretely try to define yourself is by creating a personal inventory. What are your personal assets? Knowing your strengths and weaknesses is integral to narrowing down your expertise and passion.
Focus on five aspects:
- Knowledge, skills and attitudes
- Titles, positions and accomplishments
Finding Your Market Niche
Now that you know your own strengths, weaknesses, and experiences, it’s time to find the core for a profitable business. It involves asking strategic questions. The goal is to find what kind of business you can excel in using your expertise and passion.
The first thing you can do is imagine your future business in its ideal form. Who is your ideal client? Who do you want to benefit from your knowledge, products and services? Or you could go way back to the past, and think of what you dreamt of doing as a child.
In fact, looking at your past work and personal experiences is the second thing you can do to translate your expertise and passion to profit. Examine the people you’ve worked with in the past. What did you like or dislike about them? What were their strengths, and what were yours? This can help determine what work environment and setting would benefit you.
Thirdly, you should examine your own interests. It’s important that you apply them to a market that reflects what you care about the most. So you should determine what makes you fulfilled or satisfied. What do you feel called to do? What legacy do you want to leave?
And lastly, you should be realistic. Finding a market niche that applies to your expertise and passion can be difficult, but you can do it through research. Analyze your competition and find out all about them. Look at ideas about your niche and how you can brand yourself.
Turning Your Expertise and Passion to Success
So now that you know both yourself and your likely market, you’re geared to turn your expertise and passion into monetary success.
What you need to do now is to narrow your business opportunities. You can do this in many ways. First, you can play devil’s advocate with each of your ideas. See how each idea relates to your area of expertise and passion, and ask why or why not.
You can also check by completing a focused target market key word analysis. Look at the top two or three ideas, and see how you can maximize them with your passion and expertise at play.
In fact, these are the best methods for creating a book and building an online business.
- Analyzing the key words of the target market, in relation to their problems
- Analyzing competition and their solutions, and how you can be better
- Talking directly to the target market about their negative perceptions of the same business, and how you can improve
So when you have a better grasp at the gaps in the market –either by playing devil’s advocate, talking to your market or analyzing the competition—you gain the competitive advantage. And with this competitive advantage on hand, you will definitely be able to maximize your expertise and passion.
Don’t allow them to go to waste due to negligence, underdevelopment or underutilization. Maximize the skills and talents you have. Use your passion and expertise to make a difference in how you build a competitive business.