So I've basically been jobless since early 2021. Within These two years, I've managed to turn the side hustles that I picked up during the pandemic into full-time jobs that are now making me six to ten thousand dollars a month. I'm making more than triple what I was making in my retail job, and I'm never stressful burnt out because I genuinely enjoy the things that I'm doing.
Before we get into the rules on how you're going to be monetizing your hobby or skill, the first thing we need to do before any of that is actually find out what this skill or hobby is that we're going to be getting into. So we're going to go through that with a set of questions that you need to ask yourself in order to find out what this hobby or skill is that we're going to monetize. All of you that sit there thinking, "Okay, I don't think I'm that skilled...
The first rule to actually monetizing this hobby now that we've picked it is to provide value. And yes, I get that this hobby is something you want to make money off, but understand that giving out free value is what's going to build up your audience, earn their trust and their love, and their support. And that's ultimately what's going to make you money. There's a psychological concept called The Law of reciprocity (I hope I'm saying it correctly), but this essentially states that we as humans feel in debt when someone does something nice for us...
Moving into rule number two, which is keep learning and improving and get rid of those self-limiting beliefs. Trust me when I say there's always going to be people out there that know way more than you or might appear to have way more talent than you. Instead of seeing it as a competition and getting jealous, see what you can learn from them. Don't put yourself down because you feel like you're less of an expert than someone else. As long as you know more than the average person does in any given topic...
Rule number three is posting relevant content consistently in your niche. Now with this, you have multiple options. You have TikTok, you have Instagram, you have YouTube. I personally recommend that you go for all of them. And that might sound like a little bit of a stretch, but hear me out, okay? If you start a YouTube channel, not only are you gonna get paid for the video itself through Google AdSense, you'll also be able to get paid through affiliate links in your description...
Rule number four is something that I've actually noticed a lot of content creators struggle with because I've noticed some incredibly talented people out there, but their content just wasn't reaching as many people as it should have been because they didn't have marketing skill. Correct marketing is super important. So if you decide to be an influencer, content creator, whatever it is, you need to really get into the algorithms and how they work. Whether you decide to be on Instagram, TikTok, or YouTube...
Rule number six is find a way that works best for you to monetize your hobby or skill. Always remember that there's never just one way to monetize your skill or hobby. And there's some ways that may work amazing for you and some ways that may not. It's literally all about trial and error. You could decide that you want to sell your own course. This could be on your own website where you're fully independent, or you could list yourself on platforms like Skillshare or Coursera...
Rule number seven is linked, but this is to present a unique product to the market. So once you've decided exactly how you're going to monetize your skill, you want to make sure that this stands out to your audience. If you decided to publish a book, if you've decided to publish a course, an ebook, what is it about this product that makes it stand out to all the other products in that same niche? The ultimate way to success is to not saturate the market with very generic ideas...
Rule number nine is generate and sell. Now while you're considering how you can benefit people, you need to make sure that it's a two-way system or in other words, that it's not a one-sided relationship. Because as much as I stress giving out free value, you also need to be compensated to some extent. You need to make sure that you're getting paid fairly for the effort that you're putting in. And this is another thing that I really need to stress: Do not undervalue yourself from the beginning...
The 10th and final rule, which is the absolute most important rule, is to start. Start working on your hobbies, start mastering those skills, start putting yourself out there, start making that content. There's no point in you getting through this video and having all these ideas and all this motivation bubbling if you're not actually going to do anything with it. Take these ideas out of your head and put them into actionable steps...
Q: How can I turn my side hustles into successful full-time jobs?
A: One way to turn your side hustles into successful full-time jobs is by providing genuine value in your niche, being consistent in your efforts, and marketing wisely to grow your audience.
Q: What is the importance of discovering my skill or hobby for monetization?
A: Discovering your skill or hobby for monetization is crucial as it forms the foundation for building a successful business. By identifying your strengths and interests, you can create a sustainable income stream from doing what you love.
Q: How can I build my business through genuine value?
A: Building your business through genuine value involves providing quality content or products that add value to your audience. By focusing on delivering value first, you can build trust, loyalty, and ultimately monetize your offerings.
Q: What role does consistency and marketing play in my niche?
A: Consistency and marketing are essential in growing your presence in your niche. By continuously learning, improving, and engaging with your audience, you can establish yourself as an authority and attract a loyal following.
Q: How can I effectively monetize my skills or hobbies?
A: To effectively monetize your skills or hobbies, you can explore various avenues such as creating online courses, offering services, selling products, or leveraging affiliate marketing. It's important to experiment and find the strategies that work best for you.
