For people who would like to tap into another source of income but feel they may not have the time or know how to do so, search for that hidden treasure in one’s own creative backyard.
“Monetize your passion,” says Jayjay Viray, managing director of career portal JobsDB Phils, Inc. “Passion is something that you are familiar with—it’s an area where you exercise a certain and definite measure of control.”
Viray, who does executive career counseling, explains how a hobby or liking for a certain discipline, supported by solid skills, can open a door to a whole new world: “To generate revenues, you must get other people to buy into your product and sell them into your idea. And you can sell something only if you are passionate and can speak with confidence about it.”
Viray adds, “Passion also brings you into contact with partners and mentors who can help you. It also spurs you into learning the ropes of doing a business, improving your skill, and overcoming the challenges.”
She gives a few guidelines on how to harness your gifts as an asset:
Ask yourself what you genuinely enjoy doing or what you would do wholeheartedly without pay. Where do you spend the most time immersing yourself in learning and perfecting the activity until you lose track of time? What comes to you naturally so that you excel instinctively while others have to sweat doing the very same thing?
Be creative and offer your customers that one thing that makes you different from the competition. “Dapat may diskarte ka,” Viray urges. “As a writer, photographer, or event organizer, what makes your style stand out? Is your execution faster? Is your prose snappier? Are your visuals more powerful? Can you produce a grand production with [fewer] resources?”
Check your bank account and financial status before launching a second stream of revenue. “Even if you make it a part-time business, leveraging on your skills will take time and some of your resources,” says Viray. “You cannot make it your only source of income until it stabilizes. Freelancers and starting entrepreneurs may need to rely on their day job first—and then work on their second ‘job’ at nights or weekends.”
For more information about freelancing, check out our March issue.