Turning Your Passion Into Your Profession
Everyone seeks a career that they really love, that gets them out of bed in the morning with a thirst to get to work and get started. And while millions of people never reach this point, it isn’t impossible.
The most important thing to do is to make it a priority to develop those special interests into something that pays your bills. It sounds simple enough, but we already mentioned that millions of people never do it. They may prefer the down time of not owning the company. For some, it’s just more satisfying to clock out and be done with it for the day.
But you may hate being in that spot. How can you avoid that lifelong regret of slugging away in a boring 9-to-5 while others have an invigorating career that doesn’t feel like work? It takes time and persistence, but there’s a path. We’ll look at this from the perspective of an entrepreneurial opportunity, but there are lots of other avenues that will follow these same principles.
Find The Right Partners
You’re unlikely to have a “Eureka!” moment that turns your world on its ear, and even if you do, you’ll need other people to help you turn it over.
Getting the right people in your corner is essential to making your passion into your career. You need a lot of experts in this complicated business climate. You’ll need tech people who can give you a presence on social media, a data recovery company to protect your legal interests, and financial management experts who will ensure that you stay in the government’s good graces and that you are positioned for retirement.
It may sound premature to get these people on board very early in the game, but so many problems can be avoided if you set things up correctly in the very beginning. Matters like copyrights, trademarks, ownership arrangements, and much more will be at the forefront from Day One.
Developing Your Skill
Okay, so you may be a great amateur chef. You may have even won contests or reached other accolades that recognize your culinary skill. But if you’re self-taught, you may not have what it takes to run a restaurant or catering firm.
The same is true of any aspiration. You may have just enough skill to fail; if you strike out on your own when you’re still short of qualifications, you could wipe out.
In the earliest days of your foray into entrepreneurship, you need to plow some of your profits back into improving your skills, no matter how good you already think you are. There are all kinds of certifications that will be necessary in almost any field, whether it’s IT service, massage therapy, or anything else you may try. Get the education, get the letters after your name, get whatever you need to sustain your career.
Building A Long-Term Plan
So now that you’re on your way, you have to decide just where your way leads. Do you simply want to run your business until you reach retirement age, then sell out and go to the islands? Or do you want to hedge against economic downturns and build the company to a high value, then sell it and move forward as a serial entrepreneur?
Maybe you want to pass things down to your kids and give them the opportunity to have the same career enjoyment that you had. It’s entirely up to you; you’re the boss, after all. But whatever course you choose, there are things you’ll have to put in place to make it come to fruition.
If you want to sell, get your legal ducks in a row. Know your company’s value. If you want to retire, talk with advisors about how to structure your retirement funds. If you want to pass it on, get a good succession plan that won’t one day ding your kids with tax burdens (or you with capital gains.)
We all want to work at something we enjoy. For many, the option to report to work for 40 hours a week and walk away at 5pm is ideal. Others want to do more; if that’s you, it can be done. Just plan it and carry out your plan.