by Solange Lopes | Sep 24, 2018 | Career
If you have a hobby you enjoy doing in your spare time, you may wonder how to actually turn it into cash. If so, then you are among a large part of the population that is striving to create additional streams of income doing exactly what they love. I was always fascinated by people who are able to turn their hobbies into cold, hard cash. The most interesting part is that they are able to do that on a very part-time basis while still holding on to their careers and fulfilling their various personal and professional responsibilities.
In the age of social media and technology, it has become even easier to monetize any hobby, from writing and blogging to knitting or fishing.When I started blogging, it was purely for fun and to relieve some of the pent-up energy I had from work and life in general. As I got more interested in it, I realized there are many bloggers out there for actually making a living out of something they might have started as a hobby. This is when I started thinking of the very possibility of monetizing our hobbies and even turning them into actual careers.
Here are a few way you can do the same with your hobby:
Get clear about what you like you as well as your natural strength,talents and abilities.
Taking your hobby to the next level by monetizing it also means being very clear about what it is and what your natural strengths and abilities around it are. Being aware of what you enjoy doing and how good you are at it will give you the confidence and the strength you need to pursue it. As I was enjoying blogging and writing in general, and that I realized that I had some skills around it, I was able to be more confident and more energized to develop it.
Get clear about your why
One of the first questions to ask yourself when seeking to monetize your hobby is: “Why do I want to monetize this activity?” Is it to create a side income? Is it to change careers? Is it to replace your full-time income? Is it to follow a passion? To defend a cause? Whatever the reason is, it’s important to be clear about what may spur you to turn your hobby into a source of income. It is your “why” that will help you in times when your motivation falters, or when you’re not sure whether to continue or not.
My own why has always been to follow my purpose. Whenever I hit a wall or I’m too overwhelmed, I remind myself of the very reason why I even started on this journey. It keeps me going, motivates me, and helps me make sense of it all.
Identify your target audience
As you seek to monetize your hobby and start a business, another question that you want to ask yourself is: “Who is my target audience?” This is a fancy way of saying: “Who am I serving?” Your target audience is made up of the people whose problems your hobby-turned-business is meant to solve.
For The Corporate Sister, it’s working women who want to thrive in their careers and in life on purpose. For any financial advice blog or business, it would be people who desire to better their financial situation. For someone who is passionate about surfing, it would be other people who are passionate about the same things and are looking for solutions around it.
Identify an unmet need that you can help solve
The root of making money out of anything is first identifying an unmet need and then solving it. Your hobby-turned-business has to be able to answer a question that keeps many people up at night. Those people are your target audience.
For instance, if your hobby is knitting, your audience may be made up of people whose problems are centered around knitting. You may be helping them solve problems around knitting more effectively, having better tools to knit or selling their knitting products. Whatever the problem that you’re helping to solve is, orienting your hobby towards providing an effective solution that your target audience needs is the answer.
Provide solutions to your audience’s needs
Once you have identified an unmet need that your audience has, now it’s time to provide solutions. You can do this by creating products or services through which you can channel the answers you’re offering. If you’re a blogger, then your blog should be helping your target audience through your articles, as well as through adequate products and services. As an avid knitting fan, you may be creating a new knitting product or even a community of people like you who are interested in finding motivation and inspiration around knitting. The point is create a solution to answer the questions of your target audience.
Create a community
Monetizing a hobby cannot done alone. In the world of business you need other people. In other words you need a community to support your efforts and direct your products and services at. This community may be made of your target audience, as well as other people who also thrive and gravitate around your idea.
Social media has made it easier nowadays to build such a community by providing online access to like-minded people. Networks and groups of individuals interested in your hobby are also great sources of support and community.
Enjoy the process
One of the biggest mistakes many people make when monetizing a hobby is losing the enjoyment and the fun of the process while striving to succeed. The reason why you started was because it was enjoyable in the first place. This is why you launched into this adventure of turning your hobby into a business.
It’s important then make sure that you don’t lose this joy as you start thinking about dollar figures and profits. A good way to do this is to keep reminding yourself of your why. Another way is to be aware of your own progress and evolution as an individual as you’re monetizing your hobby. Is the process making you happier, more miserable or flat out drained? This will help you calibrate and adjust as you go through this journey.
Now your turn: How do you go about monetizing your hobby?
To Your Success,
The Corporate Sister
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by Solange Lopes | Sep 18, 2018 | Make More Money
You may have heard this saying before: ” The average millionaire has seven streams of income“. This means that most high-worth people do not rely on one single source of income to survive, and even better, thrive. As a matter of fact, most individuals who are well-established financially tend to have varied and diversified sources of income.
The concept of multiple streams of income has always fascinated me. Raised in a middle-class, single-parent family in Senegal, West Africa, I was always concerned about financial security. As I progressed in life, this concern turned into a growing interest for the many ways in which people can establish and set their financial security and legacy in the long-term. I’ve always looked at high net worth individuals, the likes of the Oprah Winfreys and the Warren Buffett’s of this world as examples and indirect mentors I could look up to. I’ve always admired people, whether of celebrity status or not, who could make wonders out of scraps, especially in the financial arena. As I evolved in the corporate world, and started dabbling in the business world with a side hustle at first, and growing a business later on, I got increasingly interested in answering the question: “How can you diversify your income?”
As I found out and am still learning, there are many ways in which people like you and I can identify and implement various streams of income. Here are seven of them to begin with:
Get a job!
Although there seems to be a cult of entrepreneurship all throughout social media and in popular opinion as well, getting a job is still a pretty effective way to establish financial security. As tempting as the images of yacht cruises and work lunches in fancy restaurant patios outside may be. being an entrepreneur is not all there is to personal and financial success.
Many people have established their own as well as their children’s financial security and legacy through regular 9-to-5’s. The trick here is to remember to allow your job to work for your financial security, and not the other way around. This means setting up automatic systems and processes to save and invest, while working to boost your career in ways that are both personally, professionally and financially fulfilling to you. I like to think of it as using your job to fund your life dreams.
Start a side hustle!
Side hustles are the new job security. They are also great ways to add an additional source of income to your existing 9-to-5 or business. Side hustles are basically jobs that you can tackle on a part-time (or less) basis, in addition to regular employment or business. It could be as easy as freelancing on the side, consulting a few clients on your free time, or even working as an Uber or Lyft driver to supplement your income.
Related: 100 side hustle ideas for working women
In the age of social media and technology, it’s become even easier to start and grow your side hustle. You can easily market your products and services on free platforms such as Facebook, Twitter or Snapchat. It’s also easier to monetize your side gigs, as a majority of business activities are conducted virtually and online.
Related: Make extra money on your schedule as an Uber Eats Delivery Partner
Start Investing!
One profitable way that you can use your regular 9-to-5, business or side hustle, to fund your dreams is through investments. Setting some money aside every pay period to invest in stocks and bonds, or other financial instruments of your choice, is a powerful vehicle to multiply your earnings.
Related: How to build generational wealth as a working woman
One of the main limitations that keeps many people, especially women, from investing their money, is lack of financial education. There is a widespread perception that one must be financially savvy in order to start investing profitably. However, hiring the right financial experts and getting informed on your best financial options can go a long way towards helping you grow your confidence as an investor.
Start Freelancing!
Freelancing may very well be one of the oldest side hustles ever. I didn’t start thinking about starting my own business until after I had been freelancing for a while. Freelancing allows you to use your natural talents, abilities, and/or acquired skills to render services or create products for profit.
As an example, I have been freelance writing for a while. You could freelance around providing IT services, legal or accounting services, depending on your area of expertise or particular talents.
Get Into Affiliate Marketing!
Affiliate marketing is all about marketing products or services created by other businesses or individuals. Basically, you promote a product or service someone else created and get compensated for it. You may get a certain percentage of the sales price of the item you’re promoting or a fixed commission according to the agreement you entered into.
Related: How to make more money blogging: A review of the Making Sense of Affiliate Marketing Course
This is a great way to diversify your income as it doesn’t require you to create anything yourself. As a blogger, I have promoted many products and services that I believe, which has allowed me to create passive income as well.
Create your own products!
This may require more time and work. However, it’s also a great way create an additional stream of income. This can be as easy as printing out T-shirts or branded merchandise. It can also involve manufacturing products from scratch, such as greeting cards for instance. It can also be creating digital products such as web applications or e-books.
Today’s technology allows you to create your own products without too much hassle. With the existence of online and virtual services such as Fiverr, and the ease to use social media, it has become increasingly convenient and cost-effective to make your own products.
Start a blog!
Blogging is also a profitable way to diversify your income, while catering to your passions and interests through your blog. From advertising revenue to affiliate marketing, and promoting your own products and services, as well as your expertise, blogging offers various opportunities to earn additional revenue.
Setting up a blog is also a cost-effective and simple process. While it may take some time to ramp up your blogging earnings, consistency and hard work do pay off in the long run.
Related: Four Steps to Creating your WordPress Blog with Bluehost
All in all, there are many ways for you to diversify your income. You don’t have to limit yourself to a monthly salary or periodic revenue. Instead, you can enlarge your financial landscape by expanding your sources of revenue and securing your financial future.
Now your turn: what are your favorite way diversify your income?
To your success,
The Corporate Sister
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by Solange Lopes | Sep 13, 2018 | Career, Find Your Purpose
I’ll admit it. I’m a recovering people pleaser. There, I said it…For the longest time, I had the strongest aversion to the word “No”. It was as if I were compulsively moved to utter the one word that would grant me others’ approval: “Yes!” Although in many cases, I could see how whatever was being asked of me was not in my best interested, I couldn’t help myself.
If you’re a recovering people-pleaser, you may have felt disconnected by this need to positively answer others’ needs. You may have been silently crumbling under the pressure those around you may have unknowingly (or knowingly) put you through. You may even have felt trapped, not knowing what to do and too ashamed to admit your people-pleasing tendencies.
What many see as a weakness, or “being too nice”, is often a natural response developed by certain individuals in order to make life easier for those around them. This is also so they can feel better as well. However, issues arise when this type of behavior turns into a prison of inadequacy and fear.
Truth is, people-pleasing tendencies do not help anyone. On the very contrary, they hinder both the people-pleaser and those around him/her. The solution is not to wait for others to apply less pressure on you. Rather, it is to change your own behavior first.
Here are a few steps to get started out of people-pleasing into wholeness and becoming the best version of yourself:
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It starts with acknowledging the problem
The first step is always to acknowledge the problem. You may not want to be perceived as a people-pleaser, which in turn may create an attitude of denial. Instead, allow yourself to look at the way you react in an honest way, yet without judgment. It’s only then that you can be more aware of yourself and commit to change.
For me, it started with feeling the extreme pressure of over-committing and being unable to say no to external requests, especially at work. Over time, it became unbearable and un-manageable, to the point that I had to take an honest look at myself. That’s when I could recognize there was a problem, and that it started with me.
Related: How to establish your authority as a working woman
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Realize that relationships are about exchanges
If you’ve ever been in uneven relationships, where you did most of the giving and caring, you know it’s not a pleasant feeling. As a matter of fact, it can turn out to be quite a burden to carry.
When I started realizing that some relationships were depleting me more than they were fulfilling me, I had to take a pause and re-consider. Healthy relationships are about give-and-takes in both directions. Otherwise, you may find yourself in situations in which you over-function, prompting others to under-function. As a result, you end up being in unhealthy relationships.
Related: How to improve your work relationships this year
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It’s ok to be your most authentic self
Many of us wear a mask, especially in the workplace. Outside of the workplace, there’s also a tendency to subject ourselves to a certain status quo. This prompts us to not always be, and show, our most authentic selves.
It took me a while to own my “weird” as I call it. As an introvert, I operated mostly in extroverted environments, which seemed at times foreign. You may also wonder if owning your “weird” or being your most authentic self is ok in your environment, and to what extent. However, it’s our uniqueness and special values which truly allow us to bring our best contribution to the world.
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Get comfortable with the word “no”
I have a big “NO” written on a Post-It note above my desk in my office. It serves as a reminder that not only is it ok to say “No”; in many cases, it’s the best response. It’s one that I have had to grow accustomed to using over and over again.
Not all opportunities, requests, or relationships are for you. This is why it’s so important to master the art of saying no.
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Let go of the past
People-pleasing tendencies can create a negative hold on you from the past. You may have been hurt by others’ behavior or pressure from those around you. However, it’s crucial to let go of past traumas and difficult memories to be able to muster the courage to grow.
Are you a recovering people-pleaser? How have you overcome these tendencies?
To Your Success,
The Corporate Sister.
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by Solange Lopes | Sep 5, 2018 | Career, Find Your Purpose
Faith and religion are some of the few topics that are considered taboo at work, along with politics. In general, we simply avoid talking about faith at work. In most, if not many instances, we also don’t see how faith can integrated with our work, or how it could impact it in any way. We tend to separate our faith with our careers, believing that they are two entirely different areas of our lives.
I used to do the same, until I realized that if my faith is an integral part of who I am, then it also impacts my career and the work I do. Whatever is part of your experience, mindset or worldview, does influence your career as well.
It took me a long time to find a way to accept and integrate my faith and career in a way that didn’t deny either. If you’re wondering how you can also do it for yourself, here are 5 lessons I learnt:
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Acknowledge where you stand
One of the most important aspects of integrating your faith and your work is to acknowledge where you stand. Being realistic about where you’re at in terms of your personal and professional growth, as well as in your career, will help you assess the best ways to integrate your faith and work.
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Use your faith as motivation to excel
My faith has always been behind my motivation to genuinely and authentically succeed. It’s also been the substance of my hope and resilience, even as I faced professional obstacles and roadblocks. Having faith allowed me to believe in a higher purpose for my existence, which in turn translated into doing the best work I could in whatever capacity I was in.
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It’s less about religion than about how you do your work and live your life
When we talk about faith and work, many people often think that it’s about religious expression, which can be perceived negatively in the workplace. However, I’ve found that it’s more about how you choose to live your life than about your actual beliefs. Your ethical values, as well as the way you treat your work and the people around you, say more about what you believe in than any religious symbol would.
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Preserve your authenticity
In my instances, I’ve found myself considering whether I should wear a mask at work when it came to my faith. However, I realized that what we believe in is nothing we can really, or should, hide. Part of being authentic, in and outside of the workplace, is preserving who we truly are by not denying our beliefs. This doesn’t equate imposing our beliefs on others. However, it also doesn’t require being inauthentic in that aspect.
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Take advantage of what your organization offers
Many organizations and businesses offer places of worship catering to various faiths and beliefs, which is a wonderful sign of diversity and inclusion in the workplace. I have taken advantage of these, and have found that it’s brought a certain level of peace and serenity in my day. It’s ok to integrate your work and your faith in this way as well, and honoring your organization’s efforts and commitment to the diversity of their employees.
All in all, integrating your faith and work is not as complex as it may seem. It can actually help you bring more motivation, peace and serenity in your work, while keeping your authenticity intact.
Now your turn: How do you integrate your faith and work?
To Your Success,
The Corporate Sister.
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by Solange Lopes | Sep 4, 2018 | Career
Projecting authority as a working woman, especially as a woman of color, can be a challenge in the workplace. Due to the many stereotypes associated with being a woman at work, it can be difficult to get the respect and consideration you deserve as a working woman. This is largely due to the fact that women are still the minority at work, in number and representation. Additionally, many organizations still adhere to a patriarchal, and mostly masculine professional mentality, which only reinforces this. While this can be a sad reality in many professional environments, there are thankfully some powerful ways in which you can establish your authority as a working woman in any capacity and professional setting.
As a woman of color at work, I, like so many others, have found myself in situations when projecting the authority associated with my work responsibilities was a challenge. While I was tempted to blame others at first, I quickly understood that stereotypes and general perception bias embedded in centuries of past history were much more to blame. I decided then, rather, to focus on how to bypass these biases and establish authority in a constructive and healthy manner.
Related: Is the Angry Black Woman Stereotype Keeping You From Career Success?
As I learnt through this process and from other working women, here are some of the ways I realized can be used to project authority as a working woman:
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Dress Formally
Appearance is key. Most people will form an impression (and opinion) of you in the first five minutes they meet you. While initial impressions may be misleading, they are still relied on by many, if not most, people as they decide whether or not to attribute a certain level authority to someone else.
Just as you’d show up to an interview well-dressed in a professional suit or attire, consider presenting yourself in a formal dress to establish your authority. There is something about a professionally dressed person that commands respect, and projects their authority.
Related: 10 wardrobe tips you must consider when transitioning careers
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Display your competence
Establishing your authority is also a matter of proving that you can be trusted when it comes to your professional competence. Unfortunately, there are a number of negative stereotypes and biases directed as minority groups such as women and people of color that tend to suggest otherwise.
Don’t hesitate to display your competence, not as a way to brag or boast; but to show that you know what you’re talking about. This may mean positively contributing to meetings, or being a reliable source of information and guidance. Overall, it’s about showing a spirit of excellence in the work you do.
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Be ethical
As mentioned earlier, establishing your authority is also about laying a foundation of trust between yourself and your colleagues or higher-ups. It also means showing high levels of integrity and ethics in everything you do, from your dealings with peers and management to your business decisions.
It starts with considering the impact of your decisions and how they may affect those around you. By taking others into consideration, you’re also sending a positive message of trust and authority.
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Make use of formal titles
Along with a formal dress, formal titles are also part of the trappings of authority. While they may not always be necessary, they can help in establishing you as a respected professional figure. Whether you’re a professor at a university or a manager at an accounting firm, making use of your title is less about boasting than it is about projecting your authority.
The only caveat here is that it’s important to determine the cases in which making excessive use of formal titles could be perceived negatively. As always, use your judgment to assess the situations you’re in.
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Build positive rapport with others
While it’s important to use formal trappings of authority such as titles and professional dress, it’s also crucial to build a positive rapport with others at work. Authority is better cemented with respect, consideration and positive relationships with others.
Positive rapport with others also involves setting the appropriate boundaries, while being as firm and assertive as needed, when needed. This is not about being the office doormat, but rather installing respect in others through a positive, yet firm attitude.
As a working woman, especially as a woman of color, it can be challenging to establish and maintain your authority in the workplace. Yet, keeping in mind these few useful and practical tips, and applying them as you deem necessary, can certainly help.
Now your turn: How do you establish your authority as a working woman?
To Your Success,
The Corporate Sister
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