Turn Your Passion into a Paycheck

Everyone seems to know someone who has lost a job these days. For many, finding employment elsewhere has been a tiring and unrewarded process.

As the saying goes: Desperate times call for desperate measures. When I left my full-time job as Business Manager of the newsroom for The Tampa Tribune in 2005, I focused on my love of writing and created a career for myself as a freelance journalist.

While I voluntarily left my position, the approach I took to make money from my erstwhile hobby is still useful for nearly anyone who now finds themselves unemployed.

You, too, can turn a passion into a paycheck.

Know Your Market

Research all possible revenue streams. Do not discount anyone. While I started as a freelance newspaper journalist since I came from working at a newspaper, it wasn't long before correspondent budgets were being cut at large newspapers. I soon found work harder and harder to come by. I discovered online outlets that pay for articles, wrote biographies for Christian music artists, and created press releases for other small businesses. By branching out, I was able to keep a steady income flowing.

Find Your Niche

Creating a marketing niche simply means creating a product that is valuable to a targeted market. As a small business owner, you can't be all things to all people, so don't try to be. Define your product or service based on your own personal knowledge and abilities. For me, that meant focusing my writing on business and finance and Christian entertainment - the topics I knew the most about.

Network

Social media is probably one of the least expensive methods of marketing, and, if done correctly, it can be highly effective. While I am still not proficient at Twitter , I do have an account and send out the occasional "tweet." I post links to my online articles on my Facebook page and have learned how to link to others on Facebook who are mentioned in my articles. I see a noticeable increase in page views after posting a link to a story. If appropriate to your business, create a business page. There you can offer discounts, specials, and one-of-a-kind offers.

In addition to social media outlets, do not discount the value of good, old-fashioned face-to-face networking. Join an appropriate civic or professional organization. I joined the Atlanta Writers Club and have gained access to many business resources that would not have otherwise been at my disposal.

Employ Family and Friends

I immediately started using my daughters in my business as freelance photographers. It was just too difficult for me to conduct an interview and get good photos at the same time. My daughters enjoy their status as credentialed media, and it has increased their poise in public situations.

Last weekend, a girlfriend of mine invited me to a Girls Night Out evening at her house. Another friend of hers had started a craft business and had been accepted to a major Georgia craft show. She was enlisting help in stuffing dolls to increase her inventory before the big event.

As long as you do not take advantage, most people will find that friends and family want to help them succeed.

Make a Commitment

If you are turning a hobby you are passionate about into a business, you have crossed the first hurdle. You must believe in your own product if you expect others to value it. The next step is to determine the demand for your product or service. For me, I had to realize that demand for my writing in newspapers was dwindling, but I could refocus by writing for online entities. Finally, get out there, and do it. If you're already unemployed, you have plenty of time on your hands. Devote your energies full-time to your product or service - just like you would a regular job.

More From this Contributor:

Jumpin' Goat Coffee Roasters: A Passion to a Paycheck

No Better Time For Small Business Start-Ups

Five Easy Ways to Earn Extra Cash