Finding Your Passion.
The most unspecific aspect of becoming wealthy that most coaches, success manuals, and entrepreneurship websites teach is the essential quality of passion. I’m sure that you’ve come across this before, people screaming at you via the Internet that you need to find something that you’re passionate about… otherwise you’ll fail.
Before we begin today, you need to know that they are all wrong. With enough diligence and bastard dedication, you can be successful at anything. But, with the amount of work, time, and effort that you need to pour into a project for it to be successful, it makes it infinitely easier if you’re passionate about the idea.
Now unlike the quantifiable aspects of wealth and success (e.g. savings rate, education, and building a network) passion has an intangibility to it that makes it difficult to offer advice about. I’ve always found that unless they can give me practical techniques, the advice is mostly useless. What we’re going to look at today is a way to discover what your passion is through quantifiable terms and practical techniques.
“My passion is making money”
Har har. The only laughable thing about this statement is the number of times I’ve heard people say it. Making money is the easiest thing in the world, if your passion really was making money then you wouldn’t care about how you made it. Here’s one way of making a ton of money; spend a year driving trucks for the mining companies in North Australia. You work 12 hour days for two weeks, get a week off, rinse, and repeat. Unsurprisingly, not many people want to make money like that.
The first aspect of finding your passion, is figuring out which of your current skills is most bankable. In my case, my top three bankable skills are; writing, teaching, and coaching. I know this because I can look at my earnings history and use that data to show that I’ve made most money from writing, then teaching, then coaching.
When you first start your journey to become a wealthy person look at all the skills you’ve got, and use actual data to figure out your top three. Then choose the skill that you enjoy using the most. This is what you’re going to market yourself as.
The reason we’re choosing the skill that you’ve made money with and enjoyed using the most, is so that you already have some understanding of business with that skill. Similarly, you already know that there’s a market for your abilities.
Who do you want to help?
This question is so powerful. Once you answer it, you’ve got your ideal demographic, your marketing plan, and your raison d’etre. All businesses really do is solve problems. Think about it, even the shallowest fashion brands help people feel more confident, and look attractive.
As soon as you read that question, I’m sure that your brain thought of something. For those that need a little more soul searching, here are several questions that will reveal the answer to the conundrum of who you want to help:
· What common problems that people have do you identify with the most?
· What prevents this problem from ceasing to exist?
· In what ways are the current solutions to the problem inadequate?
By answering these three questions, you’ve uncovered; the problem that you’ve had most experience with, why you think the problem exists, and how you specifically will solve the problem.
Let’s use some actual answers to demonstrate, my girlfriend’s responses were:
· Time keeping
· Lack of motivation and education
· I would rather do other things than better my skills
From this we can construct a skeleton of a business idea. She has problems with time keeping and hasn’t found a good enough resource to help her out because she’d rather be doing other things. Therefore, the problem that she already has the idea of fixing, is creating a time management resource that appeals to people like herself.
The two things you need to find your passion
In order to find your passion, you only need to know two things;
· The problem that’s close to your heart
· The skills you enjoy using
By combining the two you’ve uncovered the project that you’re dedicated to solving and the skill that you’re going to contribute to the team that you’re going to build to fix it. Next month we’ll be looking more in-depth at how to combine the problem and your skills, and how to build an income stream from a skill you haven’t made any money from.