It’s never too early to start thinking about how to fund your passion. We are going to share three ways to do it!
Today, on The BIGG Success Show, we continued the conversation even further. We talked about how to fund your passion. Here’s a summary of that discussion.
This series of shows was inspired by the story of Geoffrey Owens, best known as the son-in-law on The Cosby Show. He was seen bagging groceries at a Trader Joe’s.
It seems a lot of people these days feel better about themselves by mocking others. But, he argued, working at Trader Joe’s helped him pay the bills while he continued to do what he loves to do: acting and teaching.
The good news is…good prevailed – he got an acting gig. So now he can follow his passion full-time. But his story inspired us to think about how to fund your passion.
Fund your passion now by saving
We call this option the “prelude to passion.” You save now with a very clear “why” – to fund your passion down the road.
The greater the gap between what you make and what you spend, the faster you can follow your passion.
You can continue the status quo, or you can purge expenses so you can save more. You may become an extreme saver, so you can follow your passion sooner.
You may also bank all of your pay raises and bonuses. Any increase in cash inflows can be used to bump up your savings, so you can pursue your dream earlier.
Fund your passion with a side hustle
We call this the “passion promoter” because it speeds up the time before you get to pursue your passion. Ideally, you combine it with the prelude to passion mentioned above to really decrease your runway to following your passion.
Fund your passion with a reverse side hustle
We label this option “passion plus” because it calls for following your passion now and funding it with a part- or even full-time side hustle.
This is the reverse of how we usually think of side hustles. We usually think of a full-time job with a side hustle. Here, we have a business with a job on the side. That’s why we call it a “reverse side hustle.”
Many aspiring business owners feel that other people will see this as a failure. First of all, who cares what other people think. All you have to do is succeed and then see what they think!
Secondly, if your passion is truly important to you, you will do anything and everything, legally and ethically acceptable, in your power to continue to do what you love to do.
If this means a reverse side hustle, while you build your business, so be it. It takes a “do what it takes” attitude to reach BIGG success!
Don’t wait until you find your passion to fund your passion,
or the opportunity to follow your passion may pass you by.
If you are doing what you love, share your wisdom. How did you fund it?
Here’s to your BIGG success!
George “The Professor” & Mary-Lynn
Co-Founders, BIGG Success
Direct link to The Bigg Success Show audio file | podcast:
Here are some holiday marketing tips you can implement for Black Friday, Small Business Saturday, Cyber Monday, and the entire holiday season.
These ideas come from some of the best organizations that serve small business. We were invited to participate in a Twitter Chat hosted by the U.S. Small Business Administration, along with AMEX Shop Small, SCORE, Google Small Business, Square, Ebay, Small Business & Entrepreneurship Council (SBE Council), and more.
In this post, we’ve compiled some holiday marketing tips that you can implement in your business right away. You’ll also find direct links to valuable free resources for your business. See all of the tips and resources offered during the chat by searching the #SBAchat hashtag on Twitter.
In honor of Women’s Small Business Month, the U.S. Small Business Administration hosted a Twitter chat to share tips and resources for women entrepreneurs.
We were honored to be among the organizations and individuals invited to participate in the #SBAchat, who are dedicated to helping small businesses succeed. Below are some highlights from the chat, plus some great resources for women entrepreneurs.
Hear George & Mary-Lynn share5 rules for breaking the rules on The BIGG Success Show podcast. Click play to listen.
We are honored to announce that Mary-Lynn is a Rule Breaker Awards 2016 Winner! From over 2,000 businesses nominated, Mary-Lynn and BIGG Success are among the 7 winners selected.
The Rule Breaker Awards honor business owners who have forged their own path. They celebrate entrepreneurs for ignoring conventional wisdom, taking the path less traveled, and doing it the hard way.
Mary-Lynn was selected as the Rule Maker of the Year “for her innovative approach to promoting the Rule Breaker Awards contest on social media.”