The topic of today centers around some of the most important advice you'll ever receive. It seems so simple yet most people never give it even a second’s thought.
Find a way to make a living doing something you love.
Now, before we get started, I'm going to tell you what not to do. Don’t go out and quit your job today. Many of the immediate concerns that hold you back from pursuing your passion are legitimate and valid. You have responsibilities to which you must attend. You probably have mortgage or rent payments. You probably have a family. You probably need to ensure that there's food on the table. You most likely have debts to pay off.
No, I’m asking you to take a look at your free time. Everyone has hobbies and other activities they enjoy doing. I am sure you're no different.
Now take a look at these activities in your life. They certainly aren’t chores, as you choose to do them because they involve what you enjoy. If it's an activity you especially enjoy, you're probably quite skilled at it from spending lots of time practicing.
Think about it for a moment. What's stopping you from making money doing what you love? You’re good at it and you enjoy what you do. Is it an activity you’d be willing to devote a lot more time towards if only you had the means to do so? If you answered yes, you’ve just taken the first step towards becoming an entrepreneur.
In the day and age of computers and the Internet, anyone can make money off of their hobby. If you produce tangible items, it's never been easier to market your goods. If your hobby is of a less tangible nature, blog about it or find ways to teach others how to do it. There are tons of possibilities and you're only limited by your imagination.
Start small. Don’t enter the market with the impression that you’re going to revolutionize your niche - that’s not likely. Do what you do because you enjoy it. The money is secondary in the beginning. You’re not going to make enough money to quit your job any time soon. What you'll do, however, will set a cornerstone for your financial future.
Before you start, though, make sure you develop at least a rudimentary business plan. Write down your goals and the methods by which you wish to market yourself. Set several exit strategies for when you want out. Set a broad plan for how you’d like to expand as your business becomes increasingly successful. Setting a plan now and sticking to it will ensure far fewer headaches down the road than might otherwise be the case.
Remember, you’re probably not going to become wealthy off of your start up. Don’t make the mistake of setting that as your goal. You will eventually reach a point where you simply are not going to be able to increase the income you make from your business. That’s okay - when that time comes, you'll be prepared because you will have set an exit strategy.
The goal, then, is to create a business you love that will most likely produce more income (and thus more cash flow) than the work you're doing now. As your business expands, your positive cash flow will increase and you’ll find yourself networking with like-minded individuals. From that point forward, you can begin investing your time and resources into other projects which, if chosen wisely, should increase your cash flow even more.
Your life of wealth is in its embryonic stage. There is little point in trying to run when you're not yet even in a position to crawl. It's the successes and developments that you make now which will define the way in which your financial life will mature.
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