Start Earning Money From Your Passion

Seven entrepreneurs share their lessons, strategies, and mistakes

Imagine working a full-time job while running your own business on the side. Sound impossible? These seven entrepreneurs did it, and as a result, built greater financial security and freedom for themselves. Here are their stories, and their lessons:

1. Expand on your favorite hobby. Sydney Owen, 27, was working for a public relations agency in Chicago when she took up skydiving on the weekends. "Then I said to myself, 'I want this to be a bigger part of my life,'" she recalls. Owen left her agency to start doing the marketing for her local skydiving spot, while also building her income by offering marketing consulting services to other small business. She also helps recent college graduates market themselves by editing their resumes.

She's since relocated to California, which has a longer skydiving season than the Midwest, and she now works full-time as an events coordinator for a skydiving company while working up to 25 hours a week for her own marketing business, 3Ring Media. "I love it—I can combine my passion for marketing and for jumping out of airplanes," she says.

2. Start charging for what you're already doing for free. Douglas Lee Miller, 38, works full-time as a new media manager for DePaul University in Chicago. An expert in social media, Miller frequently got requests for help from other people. He quickly realized he had to be more protective of his time, so he set up his company, The dbMill, to get compensated for his work.

Because he'd been doing so much pro bono work, he had already earned a solid reputation, which led to referrals, and he had a portfolio to show potential clients. "The pro bono work was hard at first, to spend time and not get financially reimbursed, but it ended up being a pathway to more work," he says. That experience also made it easier for Miller to estimate how long projects would take and how best to work with clients and manage their expectations.

3. Do something that feels meaningful to you. Prakash Dheeriya, 51, professor of finance at California State University-Dominguez Hills, came up with the concept for his series of personal finance books for kids after he realized that his own children, then five and six, could benefit from simple explanations of financial concepts. "If something were to happen to me, I wouldn't have taught them any valuable life lessons, so I came up with these stories," he says.

Now, his series, Finance 4 Kidz, contains 20 books that explain concepts such as scarcity, opportunity cost, and risk and return in terms that children can understand. "Especially nowadays, because of so much fraud, concepts such as risk and reward should be taught in elementary schools. Then they'll realize if something sounds too good to be true," he says. Dheeriya is currently working on new books on hedge funds and finance for teens.

4. Create the community that you wish already existed. Six months after she graduated, Emily Miethner, 24, started NY Creative Interns, which includes hosting events and blogging about career tips. "I wanted a group that connected awesome creative professionals with awesome interns and entry-level people," she says. She and her partner soon found sponsors and built their network, all while Miethner held down her full-time job as a community manager for another website in New York City.

"We started charging [for events] when we realized, 'This is really adding value to people's lives.' I decided, 'I think I can make this into a real business,'" says Miethner. She continues to plan events and build the blog and network while maintaining her full-time job.

5. Leverage the skills and connections you already have. Megan Moynihan, 27, was working for a big public relations firm when she decided that she wanted to pursue a more mobile lifestyle, and build a career that would let her work in Wyoming during ski season and New York the rest of the year. "I had taken entrepreneurship classes in college, but I knew I needed experience first," she says of her decision to first work for a firm before launching her own agency.

While still employed at her firm, Moynihan started taking one day off a week to work for outside clients as well as pitch new ones. She started meeting potential clients through friends, and now has left her firm to pursue full-time self-employment.
6. Get help from friends. Erica Sara, 34, was working full-time as a consultant for Coach when she started designing her own jewelry and spreading the word through friends. As a runner herself, she created "race bling," jewelry to commemorate races such as marathons or inspire the wearer to run harder. She also created "mantra jewelry," featuring inspiring words or phrases, as well as jewelry for mothers, including the popular "generation necklace," which features the names of multiple generations of family members.
"I had friends hold trunk shows," says Sara, of her early days, before she turned her creations into a full-time business. She also built up her customer base through her own running blog, as well as Facebook, Twitter, and Instagram accounts. "Being able to sell my own designs felt more gratifying and more real," she says, even though she continues to work 12-hour days (or longer).
7. Seek help online. James Mundia, 27, had been reading Ramit Sethi's blog, IWillTeachYoutobeRich.com, since he graduated from college, and decided he wanted to follow Sethi's advice and figure out a way to earn money on top of his job as an information technology coordinator for a small association in the Washington, D.C., area. So he signed up for Sethi's Earn1k.com class, which teaches people how to start earning $1,000 on the side.
Now, Mundia offers private soccer lessons for young players in the Arlington, Va., area, which has helped him pay down his credit card debt and save up for travel. The Earn1k program, Mundia says, helped him realize that he could earn extra money on the side by making use of the skills he already had. One day, Mundia hopes, his soccer-training program will become his main source of income.

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10 Smart Tips to Impress the Boss Your First Day

When you land a job finally, the important work isn't over. It's essential to do your best to impress your boss and teammates right from the start. First impressions count; your supervisor and colleagues will judge you based on how you act and what you do from the very first day. It is much easier to start off on the right foot than it is to change their perceptions later.

Holly Paul, PricewaterhouseCooper's U.S. recruiting leader, suggests the following tips to be sure you start off strong:

1. Time your arrival on the first day. Paul suggests: "Arrive early, but not too early, to demonstrate responsibility and passion." Just as you planned to arrive at interviews about 15 minutes early, that's a good interval for your first day, too. If you're not familiar with traffic patterns getting to your new office, take a test run or get to the area early, then stop for coffee before going to the office. "Being early allows you to collect your thoughts, take a last minute stop to the bathroom and think about how you will exhibit your personal brand on day one," Paul notes.

2. Think about your wardrobe. Select what you plan to wear in advance. Keep in mind what other people wear, but, Paul says that it's "better to be overdressed than under dressed. Think about how people were dressed when you interviewed and pick something that allows you to fit in comfortably. Plan a neat and professional outfit to wear."

3. Step up your company research. Since you landed the job, you probably already conducted some due diligence, and you have a sense of what the company is about and their values. Now that you will be working there, review the company's website once more to learn about its mission, lines of business, and culture from an employee's perspective. According to Paul, new employees should make a point to review recent news about the company and the industry. She suggests: "Connect with people at the company through LinkedIn and read their profiles so you get to know the team prior to starting your job."

Find out if there are any LinkedIn and Facebook groups for employees and identify professional groups your colleagues may attend so you can network and keep up-to-speed on the latest business news.

4. Practice introducing yourself. Direct eye contact and firm handshakes demonstrate assertiveness and confidence. Since you found a job, it's likely you have a good elevator pitch. Just because you have a job now doesn't mean you won't still use it. Re-evaluate your, "Hello, my name is" story to reflect your new role.

Remember, your pitch should always target the person you're meeting, so restructure it if necessary to appeal to your new colleagues and to make the right first impression.

5. Ask questions. Paul says: "The best questions show that you've done your homework on the organization and that you are ready to learn more." When you first join a new team, people expect you to have questions. She says, "Take advantage of being the newbie. You will not have the same opportunity after you have been on the job for six months, so make sure to ask even the questions that may seem mundane. Once you have your legs under you, the team will expect that you know more and be ready to contribute and will expect you to begin to figure out the answers to questions on your own."

6. Show what you know. Look for ways to share your skills and knowledge. "Although you will spend a lot of time listening when you first start a job, make sure to speak up when you have an idea to share," Paul says. She suggests you phrase your ideas and suggestions so that it doesn't appear to them that you think you already know all the answers. For example, begin an inquiry with, "Have you ever tried...?"

7. Communicate professionally. Make a point to enunciate your words and project your voice. "You can best represent your personal brand by being yourself, and be clear about what that means," Paul says. "You need to speak with extreme clarity to demonstrate who you are, what you're passionate about, and what you want to be known for. You also need to be able to articulate and exude the authentic you—both with your words and your demeanor."

8. Share your passions. Talk about your values and interests to connect on a personal level. Part of your professional identity includes knowing and articulating who you are and what's important to you—your values and passions.

"When you're living in alignment with your values and integrating your passions into what you do, you are excited, engaged, and unstoppable. Connecting your career plan with your values and passions gives you the opportunity to align who you are with what you do and how you do it," Paul explains.

9. Hone those listening skills. Even if you're tired or overwhelmed with new information, be sure to pay attention when you meet new people and learn new things. Focus on learning names, which should boost your likability factor. Paul says: "The first few weeks on the job should be spent absorbing, reflecting, and learning." You want to be sure no one thinks it is a waste of time talking to you because you never remember or pay attention to what anyone says. People like good listeners, and if you can earn a reputation as someone who pays attention and gets things right the first time, you will be on your way to professional success.

10. Take notes. "Write down everything from names and positions to daily tasks and expectations. Every detail counts and you will thank yourself later," Paul says. When you write things down, the person speaking to you will recognize how much you value the interaction and will be more likely to be amenable to follow-up questions. If you can make everyone feel important by jotting down some notes when you talk, you will be on the way to a successful new job or career.

5 Things You Must Bring on Your Next Interview

Interviewing is both daunting and nerve-wracking. Similar to a first date where you must make a good first impression or suffer the consequences of not getting asked out a second time, a job interview is a high-stakes courtship.

The more prepared you are, the more likely you'll tame that bundle of nerves and exude confidence. Preparation, however, is more than a new suit and shiny shoes. In fact, despite the hours you've already invested in researching companies, preparing your resume and applying for jobs, your work is not done. The interview requires additional energy beyond showing up and answering questions. You must be proactive and invest time organizing your presentation for this big meeting.

Here are five job interview documents you should consider bringing with you:

1. A current resume. While you already provided your resume when you applied for the job, you also want to bring hard copies to the interview. Make sure you use high-quality resume paper and that your ink cartridge is fresh before printing this important document. You should also conduct additional research on the company, the department, the hiring manager, and/or the general state of the industry before the interview, and as a result, it may prompt you to adjust your resume. For example, you might tweak a lead-in headline or add in/adapt a career story achievement to emphasize your specific job fit. Resume conversations are organic, "living" documents adaptable to each situation. Make sure yours is tiptop before handing it out at an interview.

2. A cover letter. While it may seem counter intuitive since you already landed the interview, including a cover letter with your resume can add value. First, if possible, find out the name and title of the person or persons with whom you will be interviewing and customize your inside address and salutation. Then, create a fresh, brief introductory message that emphasizes your enthusiasm and interest, plus the value you'd bring to the position. Keep in mind the research you've performed recently on the company and/or the hiring decision maker, and weave that in using custom language to hook their interest.

3. Your references. Having references on hand is good, even if you choose not to hand them off during the first job interview (gauge where you are in the process at the end of the meeting and determine whether the timing is right to distribute them). If you DO decide to deploy references, you want them to be up-to-date and meaningful. For example, make sure that all of the references you've listed know that you're interviewing. Receiving a surprise call on your behalf does not set the stage for the most glowing testimonial.

As well, ensure you include the necessary reference information to make it easy for the reader: name, company, title, direct phone line (their preferred telephone number), and email address. Also, connect the relationship dots between you and the reference. Explain in writing that they were your boss, customer, direct report, etc. Identify a specific area of your value that the reference can confirm. For example, if this person tapped you to spearhead a large, complex project that was limited on resources and time, and you finished successfully and ahead of schedule, then you may suggest that this person can confirm your abilities in complex project management, problem solving, and containing costs.

4. A strategic plan. Depending upon the particular interview situation, you may also want to arrive bearing a strategic plan that will further "wow" the employer with your preparedness and initiative. For example, if you're applying for a sales manager role, you may be privy to the fact that the team you'll be leading is demoralized, has high turnover, and declining performance. Your 90-day plan should cover three things: One, a quick overview / assessment of the current, deteriorating situation. Two, action steps you'd employ to begin turning the ship around. And three, measurable objectives that you're committed to meeting by the end of that time period.

5. Your portfolio. Portfolios add value for a number of careerists, especially graphic artists, other creative folks, and sales professionals. For example, a salesperson's portfolio is called a "brag book," and for obvious reasons. Content may include testimonial letters and emails from bosses, clients, colleagues, and vendors. It also may include colorful, clean, and powerful charts and graphs that illustrate your measurable sales results. You might even weave in a bit of subtle humor such as a sales-related cartoon. Sometimes, sliding in a one-page biography that blends your professional and personal story into a concise narrative adds value. This assortment of wins and career advocacy documents should focus on the professional you, with a twist of personality.

You won't get a second chance at this first impression, so heightening your presentation at the interview is important. Outfitting yourself with these five items may not guarantee you the job, but they will assure you that you've done all you can to put your best interview foot forward.

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