25-Passion Sucks! ... The Life out of you.
b"Today is a hot topic. You\\u2019re hearing everybody, especially entrepreneurs, talking about passion. Follow your passion and success will follow.\\xa0Well, is shouldn't be a surprise to hear that it's not that easy. You are supposed to be a new entrepreneur by just following the things you love to do. A little more is shared on this episode and where you can get that passion.\\nI\\u2019ve got a clue for you: passion sucks the life out of you. What do I mean by that? Yes, it\\u2019s wonderful to have a like and a love for what you\\u2019re doing (and we\\u2019ll get to how you can develop that), but following your passion and putting your money on your passion, success will follow is the mantra. Where does it come from? How does it get there? It\\u2019s not just some magical, magical law of attraction. The idea that customers will just flock to your doors because you have this passion, well, there\\u2019s a little bit of truth in that, in the idea that if you have the right enthusiasm, and emit a wonderful positive attitude \\u2013 yes, people will feel more comfortable around you and you\\u2019re more likely to get customers. That is something that you should have.\\nThe idea that you can do almost anything and just have that passion for it. Does it pay well? Are there economies of scale, or are you just going to be trading your hours for money? That\\u2019s just another job. Is there a room for increased productivity? Your passion or love of a hobby may be very different when all of a sudden you think you love doing this, let\\u2019s say it\\u2019s scrapbooking or let\\u2019s say it\\u2019s stamp collecting, what happens when you have to do marketing, sales, bookkeeping, when you have employees, when you have to satisfy vendors, suppliers, when you have government regulations all entering into this hobby, the thing that you loved before? It is no longer just a passion. It\\u2019s something that\\u2019s much more complex and much more difficult.\\nPeople and marketers love to pedal the idea of following your passion. It sounds like a nice quick fix to happiness, but it doesn\\u2019t help if you can\\u2019t sell your passion to a consumer. You have to fill some need or demand that someone is willing to pay for. Can you completely fill that need? Take a look at all the people who have passions.\\nOne way to do this is next time you\\u2019re at a shopping center, or shopping mall, or driving by strip malls, take a look at all of the empty stores. Not only did those people have a passion and truly believed in what they were doing, but failed, but most likely in almost all cases, they had to guarantee with the bank or others with everything they had, their home, their savings, everything, and you can be sure that they stretched out and went into debt, trying to make that work right up until the end. Their passion didn\\u2019t work.\\nYou have to make sure that you have a combination of the right skills that will fill sufficient demand, to actually earn sufficient income, and that the market isn\\u2019t over-supplied. It also doesn\\u2019t mean you have to go necessarily to the thing with the highest income.\\nWhat are your goals, what are the desires that you have? If you\\u2019re interested in just earning a few hundred dollars extra a month or something, and you\\u2019re going to use that money to put aside and set aside for your retirement, that\\u2019s fine. But have realistic expectations. The idea that you\\u2019re going to make six figures or seven figures\\u2026 I\\u2019m going to get to an episode of what the distribution of income really is, and you\\u2019ll find out that getting even six figures is not as easy as it sounds. It will be more about how you use your money, not necessarily just how much you earn.\\nLet\\u2019s get back to passion. One of the most coveted businesses that there is out there is actually restaurants. To open your own restaurant. Actually very, very few survive. It is the worst of all businesses, actually, to get into for the idea of making money and surviving.\\nEven if you do survive, there\\u2019s ridiculously arduous hours. You have to be in there early maybe to get the produce or g..."