Business
Ep 312: From Passion to Profit- the 3 keys many new business owners MISS
In this episode, Kimberly discusses the essential steps for transforming your passion into a profitable business. She highlights the importance of understanding the difference between creating art and...
Ep 312: From Passion to Profit- the 3 keys many new business owners MISS
Business •
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Interactive Transcript
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Hello friends, it's Kimberly at Tipitode 312 and I'm so glad that you're here today because
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we're talking about an important topic.
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How are you going to actually make money with your passion by having a business?
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Like, how do you do this?
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Like, what do we do?
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Because here's the deal.
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All of us have art that we want to create.
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Am I right?
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And when I say art, I don't necessarily mean like paintings.
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Now, some of you are.
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I do have clients that actually do create art, but I'm using it more in an umbrella term.
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Like, we all want to make money based on our art that may be a physical product that we make.
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It may be a food item.
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It may be a service we offer.
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It may be a coaching offer.
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It may be consulting.
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It could be any of those things.
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So think about your business right now.
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You create art with what you want to offer, right?
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But how do we actually make money doing that?
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How do we actually marry this art that we create with the things that build a business?
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Because my friends today, I want you to realize you have permission to create art, which
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some would call a hobby.
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You have permission to do that.
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You also have permission to start a business.
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How awesome is that that we have the free choice to do that?
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But there's things that you're going to have to do to actually bridge that gap, to take
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it from art to a business, to make money doing this and build a career that you actually
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love.
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So we're going to talk about that today.
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And I'm so happy because I know this is going to help you and give you fresh perspective.
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If you're new here, welcome.
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You've come on a great day.
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I have no doubt that this podcast in general, if you binge some other episodes, that it
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will help you.
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It will help you along your business journey, whether in the idea stage, starting your
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growing, and I do have resources for you down below.
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So scroll down as you're listening, and you can actually click the links while you're
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listening and go over to my website, which will show you my free tools, my paid tools,
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everything to help you start living your business stream.
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I've got a 16 step checklist for starting your business.
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I've got an Ikea guide that that means it's a Japanese term that means reason for being.
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And it's a guide to really help you figure out where your passions and skills and expertise
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intersect to find a great business.
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So anyways, make sure you check out everything down below.
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And I would be so honored to help you along your journey.
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And if you've been listening while thank you so much to all my loyal listeners, y'all
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are wonderful and kind.
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And I want to read a review today that just came in that means the world to me, y'all,
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when you leave reviews, it literally puts a pep in my step.
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It makes me smile and it just makes me happy.
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So thank you, thank you so much for doing this.
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This is from Leonis DeGal, I hope I pronounced that right.
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She said loving this podcast, thanks for putting out such great content.
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I recently started my own business and this podcast is like finding gold.
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Thanks for all the great insights.
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Oh, thank you so much.
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I'm clapping over here.
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And it means the world to me when you do that, you'll know that my dog is usually the
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only one here when I'm recording, which is true for today.
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No one is home.
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My dog is here in the room.
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And so I don't really get feedback.
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I don't get to see like, did this resonate?
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I can usually tell like if you're, you know, sharing something with people, you can see
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if it resonates or not.
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And I don't know.
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And so, but I just go by the amount of listens and all that stuff, but I love it when
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you leave reviews.
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It means so much to me.
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So thank you so much.
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And if you've been listening a while and you do find value in this podcast, would you
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be so kind right now, you can just go over to Apple Podcast, you can hit the five stars.
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You can just click that, that fifth star, we'll give it a five star reading and you can
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be done.
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Or if you have 30 seconds, literally 30 seconds to write a written review like Leonid
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Ed, it means so much to me.
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It really does.
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And I would hope that it would tell Apple and Spotify and all the players out there that
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this podcast is valuable and show it to more people like us.
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So that would mean the world to me.
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Okay, that's it on to the episode.
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Hello friends, how are you today?
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I'm so happy that you are here.
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This is an important conversation.
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If you are in the idea stage of your business or maybe you have just started your business
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or maybe you're just kind of dabbling in business or trying to pivot, this is for you.
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Because I think we have to get focused on some focused on what really matters.
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And that is creating a business that you actually love like getting to pursue your passion
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and make money doing it.
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And I think the first thing we have to do is realize that you can either create art or
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you can create art in the form of a business.
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And you have to choose.
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You have to choose.
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Is it art you are creating or is it a business and you can have either you want.
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It does not matter.
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It only matters to your goals and what you want for your life.
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I think so many new business owners that I meet with are like trying to figure out how
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to make money doing what they love.
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But sometimes, sometimes they don't really want to do what it takes to make money doing this.
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They really don't.
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They really just want to create or create art.
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I was actually talking to my son about this because he has been an entrepreneur but wants
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to do this for the rest of his life.
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But he's still trying to figure out exactly what angle, what type of business he wants to have.
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And he's been caught in that.
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Like how do I do I have a job and then create art or do I create a business that is my art.
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I mean, that is his vision.
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I'm sure that's your vision too is like to be able to have all of that but go.
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It's hard.
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And I'm not going to lie to you and say that this is an easy journey because it's not.
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But you do have to draw a line in the sand and say, do I really just want to create art?
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And when I say create art, create art, let me define that.
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Okay.
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Art is something that that you produce based on your God-given gifts, whether you bake something,
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whether you make something with your hands like jewelry, whether you offer some type of service
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where you go out and you're actually doing the work, you know, like I'm thinking of Kim Aguilar,
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landscape designer, right interior decorator, or you coach people like I have or your life coach
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or relationship coach, like that is your art.
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That is your art and you can do it for free.
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You could actually do it for free and to help your neighbors and help your family members.
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But you're here because you're trying to marry the two.
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You're trying to marry your art, your passions, your gifts, with the career.
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And you're trying to create like the closest overlap you can create.
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Am I right?
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Like if art was a circle and business was another circle, you're trying to lay them on top of each other.
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So you almost see only one circle.
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But it's hard because I think there's a lot of you that don't realize what goes into it.
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Business and that if you want an actual business, and again, no fault if you just want to create
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art and have a hobby, I just want you to know that that you have the freedom to create art.
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If you can't make this work as a business.
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But you have to understand what it takes and you have to be willing to do that
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for the sake of having a career that you feel truly connected with and passionate about.
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Does that make sense?
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So we're going to go through like three things today because I think these are important to consider.
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And really whatever stage of business you're in because you could have been in business a while
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and maybe you're not making the money that you want to make and you're realizing it's because you
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just want to make art.
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And you don't really want a business.
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You just want to create art and that's okay.
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I think we've all been in that stage.
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If you've been in business long enough, you have those moments.
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I've had those moments where I'm like, I just want to help people.
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I don't want to worry about all the business stuff.
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I don't want to do all the things that it takes.
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You know, do you all ever feel this way?
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You're like, what am I doing?
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I just want to do this.
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I just want to do this and I don't want the stress of numbers and financials and accounting
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and sales pages and photos and emails and social media.
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I don't want any of it.
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Have you ever felt that?
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Well, it's okay.
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This is what we go through.
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It's kind of like when you're a parent and you're like, wait, this is actually hard.
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It's actually really hard.
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And there's some days you're like, I just want to leave.
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I just want to go on vacation.
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I want to go to beach.
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I want to go.
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Right?
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It's the same with your business.
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So that's okay.
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You're all good.
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But listen to me here.
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If you actually want to make money with your passion
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and turn it into a business, these are some things you need to consider.
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Number one, and I've talked to you all about this before, but I'm going to say again,
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you've got to research ahead of time.
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Do people actually want to pay for this?
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Y'all, I've seen some really cool business ideas all over the internet.
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One of them has been these porch pumpkin decorating people.
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Have y'all seen these businesses where they go into neighborhoods where people have
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extra income and they get their porch decorated with the cutest pumpkins and decorations you
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have ever seen, especially people that have steps on their porch.
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Business owners will come and there's these women that do these pumpkin decorating.
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You can probably look in your town.
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It may be there.
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Y'all, it has been a big business this year.
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This is so popular.
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Even I think saw it on the today show after I'd seen it online and I'm like, oh my gosh,
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it's brilliant.
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And they go and you may spend $500 or $1,000 and they will decorate your
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whole porch with pumpkins and they're different colored and make it look so fall and cozy and just
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awesome, right?
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And it could last you through.
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I think it can last people through Thanksgiving, which is really cool, depending on where you live
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and the weather and all that.
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But that's someone who is probably married a passion with a business,
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but there's a lot of hustle and grind that goes in that.
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Don't think that that's easy.
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There's a lot of logistics and all this stuff that goes into it.
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I've seen people that do baked goods on weekends at farmers markets and other things.
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And it is so cool to see what they baked or created and I just love it and it makes me so happy.
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But there's a lot that goes into that setup at the farmers markets and doing all the things.
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If you've got a food truck or a mobile food business or maybe you're an online coach or
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something like that, like when you actually get to serve people and you're talking to people
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one on one, there's nothing better.
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You will feel like you're in your element, but there's a lot of grind that goes into that and so
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it can be hard, right?
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So we have to think about is the business that we want to have our passion, whatever it is,
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is there actual demand for it?
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So like the pumpkins?
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Yes, there's demand because there's demand for paying a thousand or two thousand dollars for
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Christmas light hanging.
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Okay, this goes on in my neighborhood and all that.
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We have never done that.
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We have just tried to do it ourselves.
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And I'm still a little like, do I need to spend a thousand or two thousand on lights?
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Like is that really a smart enough thing?
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I mean, I don't know.
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If I guess if I had a ton of disposable income, I would do it.
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I just kind of like the joy of doing it myself, but it definitely doesn't look as good.
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And when I say myself, I really mean my husband because I don't get up on the ladders and do all
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that, but I'll do some of the decorating out in the yard.
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But you know, as we get older, we don't want to hurt our backs.
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We don't want to do all this thing.
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So yeah, maybe I will pay for the Christmas light decorations at some point.
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But the the porch pumpkin decorations are awesome.
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There is a demand, right?
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So you have to ask yourself ahead of time.
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Is there actual demand?
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And if you've done the research, have you talked to people?
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And again, you are not even going to totally know and tell you open your business until people
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actually give you money.
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And I often say before you officially open your business, see if you can get some paying clients.
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See if you can get some test clients do something to see if you can get some clients.
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Again, you're not even an official business or maybe you are and you're just like,
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I'm starting a business, get some test clients and see if people will pay money for it.
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If you can see that there's demand and momentum and excitement about what you want to offer,
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then I think that's smart.
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But see this is where people go wrong when they're trying to marry,
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they're passionate with their business, they just take their passion,
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they run with it and they open a business and they didn't really know,
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is this is something people will pay many for it?
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They created their beautiful art, whatever that is, food, coaching, services, products,
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anything.
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But they didn't verify that people actually want to pay money for it.
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And this is how you're going to make money if you want it to be a business.
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Okay, so that's number one.
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Number two.
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You have to realize that even when you marry your passion with this business,
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you will be doing stuff all the time in your business that you do not like.
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It's flat out.
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It's the facts.
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You will not like it.
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Maybe you're the person that doesn't like doing your financials and books and taxes.
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You will not like it.
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You will need to do that or you will need to pay someone to outsource it.
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You will not, some of you tell me you do not like setting up your website.
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You don't want anything to do with that.
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You don't like the tech stuff.
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You don't like sending the emails.
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You don't like any of that.
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You may have to go ahead and do that or you're going to have to pay someone to do it.
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I highly suggest you learn the basics of how to do it because you need to know how to do the
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basic things in your business, right?
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And then you can hire it out.
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You may be the person that says, I cannot stand social media.
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That's kind of me.
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I don't love it, y'all.
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I've tried to be on it.
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I've been on it.
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I take breaks from it.
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You'll see where I'm just not on it because I'm not feeling authentic and what I'm doing.
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And if I'm not feeling authentic, I told myself I'm not doing it.
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So if I don't feel truly inspired, I'm not doing it.
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It's hard.
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I should probably hire someone to be doing my social media.
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But I'm not right now because I'm fine with how my business is right this minute.
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But if you're not fine with how your business is right this minute and you need more eyeballs
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and you need all these things, you probably will have to be on social media.
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Okay.
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And you may not have to be the one that has to do it,
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but you're going to have to be in charge of outsourcing it.
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So you are going to kind of have to know what's going on and how to handle it.
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Okay.
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Don't think because you start a business based on your passion that you are having fun all
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the time.
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You're not having fun all the time.
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Y'all, I'm not being negative.
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I promise I'm not being negative.
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I'm trying to keep it real.
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I'm trying to keep this process real.
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You will not have fun all the time with your business.
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You will maybe have a mad customer.
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You will have something go wrong and you have to refund somebody.
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You have to schlep stuff around your town and set it for a booth.
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You will have to work on your website.
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It will break.
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It will be so annoying.
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You will be trying to figure out emails.
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I mean, these things happen.
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But you have to accept that not all the stuff you will be doing
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will be fun.
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Okay.
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And I think that's where people like are mistaken when they're starting their business.
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They think, oh, it's my passion.
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I'm going to love every bit of it and you're not.
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That's the fact.
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You're not.
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You just need to know that.
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But your goal is to do the stuff you love the most and outsource or make it super simple.
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All the things that you don't love doing.
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Okay.
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So that's number two.
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So number one was research prior.
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Make sure people will actually pay many for it.
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Get some test clients.
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Number two, accept that not everything in your business will be
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fun.
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Okay.
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You have to you have to realize this.
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This is real.
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Okay.
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And number three,
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you actually have to work out the numbers to make sure this will work.
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Based on what you know right now,
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how much it's going to cost you to do certain things.
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And how much you are thinking you should charge,
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you're going to actually have to run some scenarios.
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If you're starting your business,
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doesn't have to be super complicated.
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You can make a little chart right now and go, okay,
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what are all my expenses to get everything set up?
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Maybe it's your website.
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Maybe it's your email marketing platform.
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Maybe it's someone to make your logo.
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Maybe it's some of your supplies and everything you need to do.
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Maybe create like an amount that you are willing to spend.
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Let's say it's two grand or something like that.
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I don't know what it is for you.
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You can do things a lot cheaper and you can do things more higher end.
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I'm just throwing a number out.
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Okay.
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So let's just say it's two grand.
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Then you're thinking, okay,
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each month what's it going to cost me?
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Do you have to rent a space?
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Are you renting a booth?
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Do you have a website?
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Do you have things that you're doing that cost you money?
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Okay.
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All your software and apps if you're an online business,
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look at all the costs and you're going to have to figure out, okay,
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so to keep my business up and running,
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it's going to cost me no matter what,
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500 or a thousand a month,
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just to keep things running, okay,
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to keep the lights on as they say.
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500 or a thousand a month.
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Okay.
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And then what am I selling?
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Am I selling hot dogs out of farmers market?
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Am I selling paintings?
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What am I selling and start doing the math for the price that you want to sell?
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Start figuring out how many of those things you're going to have to sell per month
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to actually break even.
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I always like to look at the break even and say, okay,
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if I'm selling paintings that are $400 each and, you know, my cost to keep the lights on is
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500 or a thousand a month, we'll say it's a thousand.
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I need to sell three paintings to be just above,
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because that's $1200 to be above the $1000 mark.
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So I get to sell three paintings a month.
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Is that practical?
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And a lot of times it seems easy.
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It seems super easy.
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You're like, oh, I got it.
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Three.
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And then you actually get to start doing it and it becomes hard.
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It becomes hard.
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And so,
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I want you to realize that maybe we got to go way above the break even.
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And we got to say to actually have this business keep going, I need to sell five of those a month.
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How am I going to do that?
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That's going to be the challenge for you as a business owner, okay?
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If you're selling something small and you need to sell 100 of them a month, that's the reality.
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And I know when you don't have a business, you don't have a gate.
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And you're like, I don't know if that's plausible or not.
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Well, can you talk to other people that are in your industry and find out
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how plausible it is and see what they sell.
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Will they talk to you?
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Do you have mentors?
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I would find someone in your industry that you can talk to that might give you some data
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on where they get their sales, how they get their sales, and how hard or easy it's been.
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How long it took them to get to that point.
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You know, this is just like a major overview, but it's super crucial.
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Because you don't actually do the number.
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So many people that have a passion start the business and they don't actually do the numbers.
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Because they're scared.
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They're scared of numbers.
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It is scary.
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Because you're like, oh my gosh, now I'm actually on the hook for this.
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Like I need to do this.
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This is going to be embarrassing if I don't actually make the money.
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So in summary, let's go over these three things.
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I just, I really want you to think about these things.
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You've got this passion.
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You want to create a business.
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You want to have as much overlap as possible so that it's just one cohesive unit of you
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happy with this business.
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Number one, research ahead of time.
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Make sure people want to pay money for it.
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There's momentum in the market.
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And this is something people want to buy.
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Number two, accept that you will be doing stuff that you do not like or you may have to pay
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money for people to do it for you.
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And number three, you're going to actually have to look at the numbers.
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You're going to have to sit down as painful as it may be and really look at the numbers.
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Okay.
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What is it going to take to keep the lights on each month?
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And how many of whatever you want to sell or you're going to have to sell to make it happen?
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This is what you need to make sure.
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This is how you're going to start making money.
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If you don't realize these three things,
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what can happen is you'll get going in the business and you'll realize it's just art.
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It's your creative art and it's not actually a business or a career.
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And you know what?
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That's okay.
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If it's just your art and you want this as your creative outlet,
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but that was not the intent when you came in.
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And so if the intent when you come in
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is to make this profitable and to build a successful business and to have a career that you
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totally love so that you could maybe quit another job or leave, you know,
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your part time job or start a new career, then you've got to take all these three things
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seriously so that you can get it off the ground as soon as possible and be making money and then
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be tweaking and learning. So I hope that helps you today.
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I'm so happy for all of you that are pursuing this.
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I love that you're so driven and ambitious and you're seeking to use your gifts for greater
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in this world through a business. I think it's awesome and I'm just so happy for you.
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So that's it. If you all need help right now, if you're like struggling in your business,
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trying to figure out what you should be doing next, what you should be focusing on or even
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starting a podcast, scroll down in the show notes below because I have all kinds of help available
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to you. I would be honored to work with you and help you start living your business stream.
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Okay, that's it. Have a great day. Bye.
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Now this episode may be over but our relationship does not have to end here.
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Head on over to kimberleybrock.com and yes, you can get more valuable information for your journey
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and you know what, you don't need to go through this alone. I would love to help you.
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Thank you so much and have a great day. Bye.
Topics Covered
make money with your passion
starting a business
create art and business
business journey
entrepreneurship
turn passion into profit
business checklist
consulting services
coaching offers
creative entrepreneurship
business resources
art as a business
business and art overlap
freedom to create
building a career you love
passion-driven business