What happens when you’re young and you’re asked what you want to be when you grow up? You pick you’re favourite thing and say, “I want to be a Policeman” (or something like that). It’s the same when you’re old enough to actually have a clue what you’re talking about.
So when you pick a job, you don’t say, “I dunno, whatever pays the most,” and I mean if you do say that then well… you don’t want a job… you want money. Basically what I’m saying is, it’s the same concept with business. There’s an astounding amount people recently getting into ‘business’ and entrepreneurship which is fantastic, but the truth is you’re not interested in ‘business’, you’re interested in money, and probably the promise of ‘geographic freedom’ too.
Because the truth is business is not an industry, it’s an outlet. So when you’re asked what you want to do with yourself (for example fitness), you can either, A: Get a job in fitness, i.e. personal trainer, or B: Start a business in that field, i.e. open a gym. Now if you want to own your own business, you might also have interests in marketing, or accounting, these are parts of business, essentials even, but they’re not everything, they’re their own industries. So what matters is the true passion behind the business, fitness. You might love fitness and money, which is great! It’s probably the reason you’re choosing to start a business over getting a job.
So if you’re just into ‘business’, what that really means is, you’re just into money. There’s nothing wrong with that. Seeking financial freedom is all well and good. The only problem is that launching a business that’ll just make you money probably wont turn out that great, because like I said, business is just an outlet, what you need is an industry.
So what do we do?
Monetising Your Passion
Monetising your passion is something that’s been mentioned by some big guys like Gary Vaynerchuk, and it’s an amazing concept. Basically the idea is that you take something your passionate about and make a business out of it. It’s pretty simple, but too many people are seeking to just start a business (I want money) instead of taking their passion through the business outlet.
What this means is you can start a business in any industry, just think with a different mindset, instead of going, “oh I was going to become a dentist but I’m torn between perusing Dentistry or business.” Why? They’re the same thing, start a dental practice. If you like business, then find the thing you’re actually passionate about, and make it your business, you don’t have to pick between Amazon FBA and dropshipping. And even if you do pick one of those, sell products you like, things you are interested in. That’s not to say that you can’t pursue those businesses, just that you need to follow your passion.
One of the coolest things about monetising your passion is there are so many options now within the digital world. So you like dentistry, but you don’t want to open a dental practice, but you want to pursue business? Great. Start a blog, a YouTube channel, an Instagram page. All of these are businesses using ulterior means to monetise your passion.
You can seek money, honestly I don’t see a problem with that, but if truly want to succeed and feel good about what you’re doing, then take your passion through the business outlet.