How to invest in your passion

Passion is an integral ingredient of success, so turning a passion into an investment is as rational a pursuit as it is emotional. Those who can hone their strategies with as much skill as Rodin once honed marble tend to enjoy financial benefits, too. Photographer, Brassai said, “One must have the courage of one’s vocation and the courage to make a living from one’s vocation.” The fun will automatically follow. Whether purpose is found in the arts or corporate finance, entrepreneurship or gaming, there are techniques that will attract returns.

Where Collecting and Asset Building Unite

Collecting won’t turn a profit tidy enough to retire on, but hobbyists who are passionate about the pursuit will gain enough entertainment value to make the mediocre financial returns well worthwhile. Forbes calls collectibles an ‘emotional asset’ in that the time investment is significant and the general return is equal to what one might make from a savings account. Inflation-adjusted returns over a century generate about 6.4% across a huge array of collectibles, which is significantly lower than the returns on equities.

Collecting requires knowledge, and the internet makes that easy to acquire. The savviest way to handle collecting is to buy before an item has value and sell it once that piece has enough years behind it to deliver significant returns on auction. Alternatively, prowl auction sites to build complete collections that sell for far more than each individual part does. Anything from clocks and glassware to art and toys can gain enough value to become an investment. Gifted buyers might even discover the instrument of a legendary musician or a vintage motorcycle. Auctions are the purest market because they operate per basic supply and demand. Navigating them profitably entails buying when demand is low and selling when it rises.

Career Investing

A stock performs the same regardless of how the investor lives, but invest in the right career path, and the returns can be magnified exponentially through hours of hard work. An elite degree can earn $900, 000 over 20 years, and a wisely chosen field will produce the kind of returns money can’t buy. Confucius said, “Choose a job you love, and you will never have to work a day in your life.” Even so, research is required to remove risk. Choose institutions that deliver the highest returns and use sites like PayScale to make sure that chosen career path will pay in the long-term.

Source: Pixabay

Gaming the System

They say life can’t all be fun and games, but learn to play poker like a pro, and the probabilities are your financial outlook might get a lot brighter. Whether the hobbyist’s idea of fun is learning a few strategies to keep the mind sharp or truly anteing up at a poker table, there are three ways to monetize this kind of career:

  • Brands will sponsor gamers who’ve already built a name for themselves.
  • Gamers with a gift for entrepreneurship and public relations can brand themselves as weblebrities or well-known personas.
  • Partnering with teams that already have established marketing campaigns lets gamers leverage the brand power of others.

It’s also possible to bolster this investment further by running workshops, monetized blogs, and YouTube courses. The basic principles of turning games into an investment apply across sporting, strategic table games, and even video games.

Source: Pixabay

Entrepreneurship

Starting a business in a field you love can be a superb investment or a nightmarish one depending on how impressive your entrepreneurship skills are. Bill Gates crashed so badly in the Nineties that his product was eventually given away free of charge. Determination is often all that separates failure from success. Business owners who bury themselves beneath their own failure never get far enough to open a company as legendary as Microsoft.

Like any investment, business ownership is romanticized in the minds of laypeople. The same strategies that apply to equities apply here: unrealistic expectations and greed will be an entrepreneur’s downfall if he lets them be. Building wealth is time consuming. Success must be gained one small step at a time rather than overnight. Hard work is required, but an education is just as critical to success. Business management, marketing, and even economics knowledge will add to returns. Those who are disciplined enough can even do free online Oxbridge business courses.

Picasso was pragmatic about his passion. He paid as much attention to the pricing of his art as he did to its composition. That’s why he was one of the few who succeeded in his own lifetime. Crowd funding has only made it easier for hobbyists to invest in their passion. All that’s required is an internet connection and a dream. Angel investors will handle the rest of the initial investment. Once that’s done, all that’s needed is a strategy and a stubborn insistence that dreams can, indeed, come true.

One thought on “How to invest in your passion”

  1. Unfortunately, many of us have a complicated relationship with our finances that can leave us feeling deflated instead of uplifted. Instead of feeling like money runs our lives, we can use money to architect the life that we want for ourselves.

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