Today we will talk about Money vs. Passion – the dilemma.
When you’re single, it is easy to chase the passion – live on the couch, have a roommate. But what happens when you didn’t find your passion until you get a little bit older? You have a family, kids, mortgage – people to support – what if you want to chase your passion then? What do you do?
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You get stuck in a situation where it’s like, “Hey, I can still chase my passion and if I only get to make a little money I can’t really support the ones that I have to take care of. Or I could do something I don’t really like but at least support them while they’re here then MAYBE someday I’ll get to go after my passion.”
Here’s what’s interesting, if you are really, really passionate and in love with what you’re doing, it won’t feel like work. Here’s the fun part: look at it as if it’s an opportunity to live for every day.
Yes, there are times where you have to work to pay the bills, you have to take care of your kids, put food on the table, take care of the mortgage or rent or whatever it is and in that case, you’re going to need a job.
Ideally, find a job with lots of flexibility that you can do on performance – the better you perform, the more you make. That way you can set yourself up to perform, perform, perform, have a giant lump sum you make and gives you a lot of free time on the side that you can chase your passion like crazy.
If you can’t find that or it’s not available where you live or with what you are doing, then you might want to take a job where you have your standard 9 to 5 and that takes a lot of effort, energy, and focus to show up and deliver. Come home and have family time. Maybe you get home at 6, you’ve got from 6 to 7 or 8 to have family time, get the kids ready for bed, maybe at 9 put them to bed and maybe from 9 to 11 in the beginning – hustle, hustle, hustle just to build the base of your business.
Let’s say your business is service-based, photography or something creative that you have to go out and do during the week. An easy thing to do that is to spend all week at night creating your business, generating leads, closing deals via email, using automated online messaging systems to create deals and write up contracts and draft agreements and figure out times on the week, where maybe at 6 pm on Thursdays someone else watches the kids and you go and get to do the job you are passionate about to build up some side income.
If you start to balance money and passion like this – it takes a lot of effort, a lot of skills, a lot of thought. The good news: you don’t have to do it like this forever.
This is the transitionary point where you hustle, get to do a little bit of your passion project and make a little bit of income doing it. As your passion business grows, you start to make a little more income from it. As soon as it gets close enough to match the income from your standard job, at that point you can decide and say I’m going to let go of the job, save up to 3 months’ of income, then I’m going to drop the job and let my passion business grow.
I know this from experience and that was the strategy I used when I got started.
I had 3 jobs – I was doing inside sales, a service-based service for a large company in coaching and I was managing and stuffing boxes at the warehouse (managing shipments and organize stuff around there). I was doing 3 jobs during the week when I built my little side coaching business or coaching practice online, setup a website, hustled in the off hours, got lots of marketing on my lunch hour and everywhere else I could.
Eventually I got a client. I fit that one client in between all my other sessions and all my other duties and responsibilities. Then I got 2 clients and fit them around it. I later got 3 clients and was working on the weekends. After much hustle and hard work, I got a huge spurt in business and when I grew, I crossed the threshold. I let go of one of my jobs, which allowed me more time to focus on the clients, let go of 2 jobs and eventually managed to let go of all 3 of the jobs.
Now I was on my own and had all the time to focus on finding clients, servicing and really delivering a high quality service. That transitionary method works very well.
There are also other people, one of which I am related to, who say, “No, just quit and go for it. Find a way or make a way.” My belief is to use a transitionary approach. It’s a lot more feasible for most people and it’s a much smoother approach to take and allows you to transition over 100% one step at a time . Use those focus hours, use those half hours and have fun doing it.
Here’s another factor to consider, balancing it with your spouse. Some people are in the position where they both have to work 9-5 and one person might have a job.
If you both have a passion job at night maybe on Monday, Wednesday, Friday your spouse can watch the kids and you get to do your passion job that evening. Maybe Tuesday, Thursday and Saturday, you get to watch the kids and they get to do their passion job. Using teamwork, structuring and organization is key.
To your success,