Passion vs. Profit – the battle ensues. As I continue to talk with thousands of career professionals and entrepreneurs, I see a major collision happening in the way we approach work.
What we once believed to be true about work is beginning to let us all down. The payoff is not what we would have hoped.
We were all told to go to school, get a degree, find a stable job, and stay there. Don’t ruffle anyone’s feathers, meet your deadlines, and be a team player (don’t come up with your own innovate ideas). If you do all that well, you can afford a house in the suburbs and two weeks a year to do what you want.
As a career coach, I hear the horror stories every week from people who are struggling to find meaningful work. This often drives people to create their own work. The kind of work they want to do. So, which should we pursue? Passion or profit?
Why not both?
I want to offer you 4 simple questions that when answered together can lead you down the path of creating work you love that won’t leave you hungry.
Question 1. What is it that you do well?
Knowing what you do well is the first step to creating work you love. Being able to use your strengths to add value in the lives of others will always bring satisfaction to your work.
Question 2. What do you love?
What gets you excited? I mean really excited? Some of us love problem solving. Some of us love to learn. Others of us want an afternoon to build something with our hands. Knowing what you love to spend time doing is an important aspect as well.
Now, we don’t have to turn every hobby of ours into a business, but knowing what we love will keep the passion burning.
Question 3. What does the world need?
When your passions and abilities meet the needs of the world, great things begin to happen. The good news is that the internet has made this easier than ever before. You don’t need the world. You just need 1,000 or so true fans. Think about it. If 1,000 fans pay you $100 a year you have a six figure business.
The best way to attract 1,000 fans is to build an ideal customer model that you want to use to serve your tribe with your skills. Once you begin to serve this customer model, your ideal customer will begin to connect with you in a powerful way.
Question 4. What will the world pay for?
This is an important question to answer. You need to test your ideas before you ever go all in. There are some gurus who say “don’t follow your passions it will leave you broke.” While you do need a revenue model, the good news is the internet can make that possible. There are more and more people today creating income around the strangest passions.
A great example is this career coaching blog. Over a period of time I have created 12 income buckets that earn my business revenue. I knew maybe 3 possible ways to make money with my blog when I started. Regardless of your passion, if you can attract the right audience and locate the right business model, you can live off your passion.
Questions: Which of the above 4 questions do you struggle with the most?