Alicia Sisk Morris CPA | What are you passionate about and can you make money doing it?
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What are you passionate about and can you make money doing it?

14 Oct What are you passionate about and can you make money doing it?

Before you step off into the land of self-employment (part time or full time) you need to fully assess what assets you have (social assets or material assets) and how they might help you fulfill your dream. According to Steven Schussler author of the book “It’s a Jungle in there”

“An important talent entrepreneurs need to possess is the ability to dream-to see things that others have not yet envisioned. It provides the means to imagine and create new products and /or services that nobody else has thought of or, at least, not exploited appropriately. Passion often services as the springboard for these dreams”

Clearly the dreams that Mr. Schussler references are not the ones we do at night when we are asleep. These dreams or visions are our brains creative ways of seeing the world in a different way. It could be from creating a product to make our life better or a service to a population that is under served. Either way, an entrepreneur needs to maintain themselves in a constant state of discovery. Today’s “it” product or service is tomorrows “run of the mill” product. To maintain a competitive edge, one must be constantly evolving and changing how we view the world. Could you imagine how different the world would have been had Steve Jobs  stopped at the first iPod? Had that been the case there would have been no iPhone and eventually no iPad. As humans we evolve from babies to teenagers to adults and eventually to senior citizens. Projects and companies, like people, have a natural life cycle. If you want your company to stay viable long term you have to constantly be dreaming up new products or services to extend your companies life cycle. The fuel for that evolution comes in the form of passion.

In addition to your dream (aka your big idea) you also need to balance that with your passion. Passion for your project/company/job is what propels a business forward.

Carol L McClelland,PhD shares the following list. This list represents part of her “Your Dream Career for Dummies Cheat Sheet”.

  • Listen for a change in your voice: When does your speech get faster? Are your conversations on that subject longer?
  • Notice your excitement level: When you feel excited inside pay attention to what you are doing at that very moment.
  • Track your curiosity: When you have a desire to learn more about a subject follow that lead
  • Visit memory lane: Look as far back as your child hood. What used to fascinate you or what do you still have a keen interest in?
  • Notice how you help others: What are some of the ways you are in service to your friends or family. What subjects do you know more about than your social group?
  • Recognize a sense of mission: Do you have a vision or a life mission that excites you?
  • Natural talents: What are skills that you have that come easy to you that may not be easy for everyone else?

 

15 Comments
  • Maria-Elena Surprenant
    Posted at 02:11h, 19 October Reply

    It is so true that in order for a business to “maintain a competitive edge, one must be constantly evolving and changing how we view the world.” What may work one year, may not be effective the following year, and this is the reality of life in general. One thing that is interesting is that certain thriving businesses, such as the In-and-Out chain on the West Coast, is an example of a businesses model that has not changed over the years yet is still successful. This particular business franchise is set apart because of the fact that its menu is simple and represents a special time period in American history and culture. I’m sure down the road, it will have to face some sort of change(s), if it hasn’t already.

    Maria-Elena

    • asmcpa@yahoo.com
      Posted at 16:23h, 20 October Reply

      I ate at In-and-out burger and could not understand what the big deal was… I guess I missed out on the history and culture aspects… I just wanted a good burger and was underwhelmed.

  • Mitch McDowell
    Posted at 16:14h, 20 October Reply

    Alicia,

    I like how you pointed out that business have a natural life cycle. Knowing when to adjust your business model is certainly necessary for long-term growth and success. In addition, business owners need to know when and how to get out of a business. This process should start in the early planning stages by beginning with the end in mind.

    Thanks,
    Mitch

    • asmcpa@yahoo.com
      Posted at 16:23h, 20 October Reply

      Thanks Mitch

    • Chris Sitzman
      Posted at 17:03h, 24 October Reply

      Mitch,

      You make a good point about how important an exit strategy is to a business. Whether it is on good terms or bad, the exit strategy is one of the most important parts of a business plan. I have a friend who owns a brewery that isn’t do so well. They are trying to get out of the business but they are struggling because they didn’t have a plan going in.

      Chris

      • asmcpa@yahoo.com
        Posted at 01:04h, 25 October Reply

        Thanks for joining in the discussion.

  • John
    Posted at 20:25h, 23 October Reply

    Alicia,

    I think it is very important to always look for new ideas and innovations, especially for your own products or services you are providing as a business. Like you mentioned, if Steve Jobs had stopped at the iPod then we would never have all of these cool devices. I think the advice that Carol L McClelland gives is also really helpful. It is always difficult for myself to self-examine but I believe these are great tools to have as an entrepreneur.

  • Chris Sitzman
    Posted at 16:58h, 24 October Reply

    I do most of my schoolwork at Barnes and Noble. It’s a great environment to focus and knock out a lot of work. Sadly, these bookstores are losing their competitive edge to competitors such as Amazon. Barnes and Noble was one of the few bookstores that evolved with the digital age by developing the Nook. They were able to stay afloat while other similar companies folded. I believe Barnes and Noble is near the end of their life cycle unless they can somehow be able to evolve to compete with Amazon. Even though I love the environment at Barnes and Noble I still buy most of my books, including the required reading for this class, from Amazon. It is much cheaper and more convenient.

    • asmcpa@yahoo.com
      Posted at 01:01h, 25 October Reply

      I am a huge fan of Amazon and they have certainly set the bar high in their evolution. I can’t imagine being able to study at a Barnes and Noble. The one near the Asheville Mall is so noisy. Glad you enjoy the space but I agree, it will not last long.

  • Sarah Gillis
    Posted at 14:35h, 28 October Reply

    It’s so true that in today’s world, you MUST be constantly innovating methods, products, and ideas to even be considered competitive. No one was a better dreamer than Steve Jobs. He was creating things he knew the whole world would one day enjoy long before any of us even knew it would exist, much less, how much we would love it. He was always able to stay ahead of the competition because he was constantly creating and innovating new things that competitor’s were unable to come up with. He was never content with the success he had already obtained. Great post!

    • asmcpa@yahoo.com
      Posted at 16:40h, 28 October Reply

      Thanks! I have always been deeply impressed with his innovation.

  • Nadia Phillips
    Posted at 04:37h, 02 November Reply

    Great insight! Like you stated our services and products should always be evolving for the better. I think it’s easy for businesses to have their mind set on an initial plan instead of constantly brainstorming and researching ways to make their plan better.

    • asmcpa@yahoo.com
      Posted at 18:18h, 02 November Reply

      Thanks so much for your comment.

  • Adam Renkiewicz
    Posted at 05:00h, 03 December Reply

    The psychology side of me loves this blog because it discusses self-awareness and taking a step back to analyze what your mind and body are telling you your true passion is. Love the post.

    • asmcpa@yahoo.com
      Posted at 21:14h, 03 December Reply

      Thank you Adam, Maybe I should have minored in psyc!

      Alicia

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