The challenge with opportunities isn’t finding them; we’re swimming in limitless opportunity every moment of every day. Rather, the challenge is knowing the right ones to pursue.
Initially, if you have little or no experience with entrepreneurship, your primary purpose is to simply get experience, as I did with guitar lessons and my 5 Day Weekend collaborator Garrett Gunderson did with auto detailing, as I wrote about in previous blogs. Go implement an idea. Offer something to the world. Market and sell it. Learn what works and what doesn’t. Learn how to adapt and grow.
This process is as much self-exploration as anything; along the way you’ll learn what you enjoy and what you don’t, what you’re good at and where you need support. Your fears and blind spots will be revealed, and, if you persist, you’ll learn how to deal with them.
Along the way you’ll get more sophisticated about analyzing potential opportunities. First of all, consider the real value of any future business endeavor. Be sure to follow the money. Follow where the demand or main disruption is. You’ll always be paid in direct proportion to the problem or service you solve. Make your money first, than pursue your passion. If your passion is underwater basket weaving or 17th-century wedding dresses, then your real passion is emotionally motivated and spiritually profitable, but lacking any fiscal logic because there is little monetary demand. Find the critical intersection of passion, skill, and consumer market demand. That’s where the real magic happens.
Passion alone won’t bring you success in the field of your choice. People generally pay for skills, not for passion. If indeed there is market demand for your passion and it can be monetized, congratulations. Embrace it and enjoy the fulfillment it will bring. You now have a passionate career of choice. Passion is fuel, but it must fuel the right vehicle or opportunity.
In my next post, I will offer you a process that will truly help you understand how to analyze opportunities – it’s a process that Garrett Gunderson uses, which is called the Idea Optimizer.
In the meantime, what are you passionate about? And can that passion be something that will make you money? Thank you for sharing.
Secure your copy of the “5 Day Weekend” book. 5 Day Weekend: Freedom to Make Your Life and Work Rich with Purpose [Nik Halik & Garrett Gunderson]