‘The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.’ – Steve Jobs
Here’s the sick ‘n’ scary word again. Passion.
And how to get rich doing what you love? Is that even possible?
Thank your stars because entrepreneurship is thriving like never before. People can start online businesses sitting at home and talk to clients while soaking in the bathtub.
And everything can be learned from books and the internet. Such high-value information was not readily available before the internet. It is simply amazing.
Once you know your passion, you need to turn it into a source of income. But a heads-up first – passion comes from your heart and not your head. So don’t keep thinking about what you should do. Just do it.
Here are the simple steps to get rich doing what you love.
- Do your homework
Question: Is there a solid market for your product or service?
First, you need to do in-depth research about what you can do. You need to determine if there is a market for your services. Do people even want what you provide? For example, if you’re passionate about music, you can give music classes.
You need to learn everything about the market – demand, the range of services, potential profits etc. Moreover, find the services that pay the highest buck.
For example, if you love yoga, being a yoga teacher won’t make you a millionaire. But if you combine it with transformational coaching and public speaking, you can get rich doing what you love. Jason Ferruggia is one such fitness coach. He not only gives fitness training but also provides transformational coaching.
- Find key problems in your market
Question: What problems do potential customers face?
Nancy Anderson, a career counselor based in California, advises that reading success stories and knowing the key challenges of your field is an important first step if you want to get rich doing what you love. Because once you’ve figured out what the key problems your customers face, you can start solving them.
When you figure out the key challenges, you’re doing something most people don’t do. They don’t deliver more than the average standard of service. Give more value and you will never fail in your business.
- Remove uncertainty
Question: What do I need to know?
Award-winning performance consultant, John Brubaker says that the primary reason entrepreneurs fail is because they’re not sure of themselves. What holds them back is fear of failure or criticism.
To overcome this block, you must remove the uncertainty out of the equation. Because we are only afraid when we aren’t sure of the outcome. And to remove uncertainty, learn as much as you can.
- Think in terms of First Principles
Elon Musk says that when you’re trying to innovate, your business idea should be based on First Principles. First Principles means starting from the absolute truths and then arriving at conclusions.
A first principle analysis of your business idea includes asking yourself two questions:
What am I sure is true?
Based on these fundamentals, what conclusions can be drawn?
But there’s a shortcut too if all this has been going over your head. Network!
- Talk to experienced people
Question: What do experienced people advise?
Meeting people who have experience in your field will do wonders. Anderson says that “Those are the people who will tell you about the challenges, but they will also highlight the positives so that you are getting balanced advice.”
Also, talking to potential customers will tell you about their needs. In the end, every business is successful to the degree it fulfills its customer’s needs.
And you can network with other people doing the same kind of business as yours. They’re learning too and can help you grow in a profound way.