If I had to describe the best formula to create a business that not only brings money but also an enormous amount of fulfilment and satisfaction, I’d say it’s an intersection between two things:
1. What you’re most passionate about, and…
2. What other people are willing to pay you for
Now, sometimes our dreams and passions will be completely personal and self-absorbed. And that’s perfectly fine, we shouldn’t expect to earn a living from those things.
But if you want to receive an income from a passionate contribution to the world, you need to make sure other people find it valuable as well.
There are a few basic steps to getting started on this path:
- Make sure you give a damn. That is, follow your passion far enough to ensure that you have a longterm interest in it. The best paths have no end in sight, so make sure you can see yourself following them for many years, without the possibility of ever getting bored.
- Make sure other people give a damn. Do a bit of renegade market research. See if there’s an existing market out there with people already paying for something you want to offer.
- Hone your skills. If you become insanely good at something and find a remarkable way to communicate it, it will be easy to get others to pay you for it. (hint: the way to become insanely good at something is to keep doing it)
- Focus on value. How can you help others? Identify a need and effectively convince others that you can fulfil that need. Demonstrate that what you have to offer is worth their money.
- Offer your services for free. Offering to help others for free is the easiest way to tell whether or not you’re good at something. It also helps to gain experience before charging others. If you offer your service for free and you get a good response, you’re ready to start charging people.
Do that and then… hang up that OPEN sign. Say out loud to the world, “If you have this problem, I have the solution.” Make that first, scary step to making your first love dollar.
Because look… if you’re reading books on how to make money doing what you love or how to start a business, that’s great. But nothing can compensate for real-world experience.
photo Dark Indigo
Adam Webb says
Awesome post as always! I agree that we need to follow our passion far enough to ensure that we have a longterm interest in it. Indentifying what we truly love to do, coming up with exciting ideas and following what we love can help us live the life that we truly love.