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How Can You Grow Your Income With Passion And Intensity?

By Dinky Hutchins

The activities and adventures you are passionate about are a source of growth and gratification in your life. They can also be converted into a means to grow your income. The hobbies we’re talking about here include sports, partying, visiting museums, reading screenplays, movies, history, renting an RV, decorating your house, dirt bikes, tractor pulls, or any other subject that like to put effort into and enjoy doing.

The avocations that make you happy are a great place to startup a new business. Most new ventures don’t make any money in the first six to twelve months, principally because the business creators spend a lot of investment dollars getting it off the ground and don’t understand the time required to acquire clients, break even, and make it a viable business. When you launch a passion-based business with your own extra hours, bulding on activities you already love to do and relationships you already have in hand, there is no necessity to invest a lot of money to start the business up. In fact, most personal passion businesses grow your cash flow quickly and steadily from the first month.

The best place to start your new micro enterprise to grow your income is right in your home. You should never go out and lease a costly location in anticipation of traffic streaming in. Aim for getting word of mouth PR using free and extremely cheap advertising (Craigslist, local ads, and tacking posters and business cards to bulletin boards is the cheapest start). You can also launch a free blog and make that your virtual storefront until your revenues can support bigger commitment.

A related technique is to launch multiple small but related businesses in sequence. To provide a simple example, if you start a hair grooming business, you can also release a mailing list on hair dressing, in addition offer a hair grooming guide on an online bookstore. If you start a antique wood refinishing business in the garage, you can also begin a specialty wood dealer and operate it from the same space. As you get one business running and there are a few paying customers coming in, start another similar business and recap the process. If you know what to do, you can found a hobby-based business easily in less than a month! afterwards, you can continue the businesses that are successful and shut down the few that produce losses, then implement all the formal things like forming an LLC, filing federal tax returns, etc. as or when it feels right.

The rule is simple: take advantage of your passions, create a business doing something you already enjoy doing, keep operating costs low, and enjoy the bounties!

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categories: grow your income,income growth,income techniques,income generation,small business,startup business,wealth building,annuities,hobbies

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Article Citation
MLA Style Citation:
Hutchins, Dinky "How Can You Grow Your Income With Passion And Intensity?." How Can You Grow Your Income With Passion And Intensity?. 8 Aug. 2010. uberarticles.com. 25 Dec 2014 <http://uberarticles.com/finance/wealth-building/passion-hobbies-pastimes-to-grow-your-income/>.

APA Style Citation:
Hutchins, D (2010, August 8). How Can You Grow Your Income With Passion And Intensity?. Retrieved December 25, 2014, from http://uberarticles.com/finance/wealth-building/passion-hobbies-pastimes-to-grow-your-income/

Chicago Style Citation:
Hutchins, Dinky "How Can You Grow Your Income With Passion And Intensity?" uberarticles.com. http://uberarticles.com/finance/wealth-building/passion-hobbies-pastimes-to-grow-your-income/


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