Passion & Profits or Passion V's Profits?
Is it really possible to earn a decent living at the same time as doing something you love?
Yes, plenty of people do it, but have a look at those that are doing it! Study them, what are their strategies, why do their products/services sell, how do they manage their team? Use the knowledge & wisdom from those who have gone before you- they've gained it through experience, and we all know experience can be painful at time- save yourself some pain - learn from other people's mistakes! Start reading biographies from those that you admire, you'll learn a whole lot more than you thought would be possible!
Is it easy to earn a decent living doing something you love?
Well this depends on your mindset really; positive mental attitude can make challenging situations appear easier than you ever imagined. Does that mean if it doesn't seem easy you're doing something wrong? Sometimes yes, and that's why it's essential to gather around you a team of experts, Accountants, Lawyers, Business Coaches, and/or Mentors that you can gain valuable insight, advice and guidance from. Everyone benefits from an objective opinion, and this is no truer than in business.
Does it seem like it takes forever to earn a decent living from a business you love?
It can do, but see the answer above! Mindset- Positive Mental Attitude is key to being a successful entrepreneur & business owner! Be prepared for things to grow steadily, just like compound interest where if you keep adding a little over a long period the growth can seem small at first but once you hit that magical point, you'll be celebrating regularly as your profits soar!
Will Positive Mental Attitude guarantee success?
No! It can guarantee that you don't drive yourself, friends and family up the wall while you're setting up your business but it won't guarantee success. There are other basic factors such as are you able to charge more than your produce/service costs you! And are there lots of people that are willing to pay me for my product/service!
Should I give up my day job and pursue my dream with complete abandon?
Do you have enough money to cover your basic living expenses for 3 years? It takes this long on average to build a stable (If any business is stable!) profitable business. If not, do you really want the additional financial stress on top of all the other demands setting up a business will place on you?
Following a Passion is a fool's errand; I should stick with what's safe, especially in the current economic climate!
Well yes, you could stick with what is safe, and that is often a good plan, but before you do, assess what is playing safe costing me? What are the results of playing safe? If the answer is feeling miserable going into a 9-5 job five days a week that you gain no satisfaction from, maybe it's time to have a look at other options!
The current economic climate is an entrepreneur's dream- low cost resources available everywhere!
Do you have a question you'd like answered? You can contact Claire here or leave a comment below :)