Not Exactly! Another way to say this is “Do What you Love And the Money Will Follow”. I’m uncertain where this “advice” originated in, but I’ve been hearing it since i could remember.
On top it sounds like sage advice. But there is a fatal downside with this advice, and it is this… Do What you Love And You could find Yourself Insolvent! How top up paypal could I say that? So many people tout the ‘follow your passion and the money will follow’ it must be true. After all there are shows, paper articles, books, movies showing people following their passion to millions.
Yes, there are plenty of examples of people following their passion to millions, but one important thing is left out
This one element ‘s you are going to make money or go broke with your ‘passion’. And unfortunately many want to gloss over this important thing. It’s popular for authors, speakers and experts to feel philosophic about this subject. They want to talk about how awesome it is to find your passion, embrace it and come to an end there sell it to the world. It’s warm and unclear, and that is certainly makes it a popular topic.
But the cold hard the reality is this If your ‘passion’ is not a something people are willing to pay for, then you just have a hobby… not a business. You have to have a passion that people are willing to give you money for something you have to offer.
Think about this… how many times have you stumble upon someone with a “great” idea for a business? They are passionate about this idea. They thirstily tell anyone that will listen about this ‘great’ million-dollar idea. And they do not delay – on about this business.
Why are they only one in the room who doesn’t observe that this idea is a dog? And if you try to point out any flaws in their idea… they get incredulous. All you could did was try to point out that there’s no market for this idea… but they accuse you of being a dream stealer.
Here’s a silly example I enjoy ruse about a new service that I want to start
It’s for folks who are high achievers, and just too busy to do this activity for themselves. I would take this problem off their hands, and give them one less thing to worry about doing everyday. In a way they would be outsourcing tools this to me, and I would enjoyably do this for them everyday. My service is a quick sleep taking service.
After all I love to take naps… I take them every chance I get. And I would be thrilled to take naps for other people. The only problem so far is I can’t find anyone willing to pay for this service.
It’s great to follow your passion, and build a business around it. You have to do pursuit, and make sure there is a market prepared to pay money for answers to their problems. Be sure you first find a market… then find out their problems… Then make a products that handles the problem… And make sure they are willing to give you money to resolve this problem.