How often do you see someone being able to turn their passion into a steady income stream? Personally, I do not hear of this often enough, which could be because they often perceive their passion negatively and do not see the money-making potential in what they enjoy doing.
Take your career as an example, most of us choose to enrol in our choice of education & career in life. You are passionate about investment, therefore, your choice of education is banking & finance so when you graduate, you are able to take up a job that is related to investment. It is normal to turn your passion into income. Years down the line, you may either still enjoy it or there could be a chance that you might be burned out from it. For me personally, entering the logistics industry was my choice since I started working with hopes that I will be able to grow from it. 13 years later, I am still in this industry & with something new to learn every day.
Over the years, I always hear people mentioning how competitive my industry is & the struggles of all the small players. I spent my early years of being in this industry agreeing with that statement but as I started to change my mindset, I realised that there are huge potential & areas that other small players are able to capitalise on to disrupt the industry.
Malaysia local courier business has been stagnant and comfortable in terms of its practices and technology for the past decades which could be because it was monopolised by players like Poslaju & GDEX. When J&T entered the market, they are able to make the most of the gaps & weaknesses of these courier companies & improved those problems. Some of the gaps include tracking accuracy, slow transit time, manual airwaybill & single hub sorting. By identifying these weaknesses & gaps, J&T came out with an accurate tracking where you can identify clearly where is your parcel & you are able to get your shipment the next day in most areas in Malaysia. They also incorporated digital airwaybill preparation where you are able to create airwaybill with WeChat while some courier companies were still generating manual airwaybills. Most local courier companies will send their parcel to one main hub to do sorting before distributing it countrywide. Even if your delivery is from one end of Penang to another, the traditional routing will be Penang-Selangor-Penang despite extra cost & slower transit time. J&T is the first courier who actually decentralised their central hub & because of this, they are able to cut costs by doing local state sorting instead of moving it to their central hub for sorting.
Let us look at your hobby. You have a hobby of cooking. Have you ever thought of turning your hobby into income? Take your hobby & start thinking briefly about how to turn your hobby into income. Some of you may think that it is impossible & some may think it is hard. I’ve seen some home bakers who have utilised their love for baking for income by selling their home-baked goods. I also have friends who are toy collectors and they are selling toys while collecting them. You may think that there are lots of competitions out there & it is hard to do now because everyone is doing so. It is always good to have competition in the market as it validates the demand. You should also know what makes you stand out compared to your potential competitors. Since it is your hobby, you should be the expert in it while knowing about it inside out.
9 years ago when I co-founded my gym with my partner, we started the gym when the trend started booming & we saw demands for it. During that time, Penang had 2 commercial martial arts gyms but as of now, there are 11 commercial martial arts gyms. We saw the trend, the gap, the opportunity & we executed it. The same goes for BBM blog & Black Belt Tape where I saw the gap & executed it based on the gap. In all businesses, there is always a gap & there is no perfect business in the world. If you are able to capitalise on it, there is a high chance that you are able to earn from it.
It is possible to turn your passion into a business generate income from it if you are able to identify the gap or ways to earn from it. If you have a plan & idea, the next thing you need to do is to be consistent in order to be successful. You are a new player among your competitions & in order to stand out, consistency is key. As long as you keep going, you are able to turn your passion into income in no time. You can do it.
OSS!
You can also check out my latest YouTube video on What Is P2P Financing & How Malaysian Benefits From It:
