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image of calculater for blog & podcast about how to fund your passion

How to Fund Your Passion

image of calculater for blog & podcast about how to fund your passion

It’s never too early to start thinking about how to fund your passion. We are going to share three ways to do it!

Last time, we continued our conversation about Hollywood’s dirty little secret. We discussed what to do if you can’t do what you love.

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.

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The Downside of Finding Your Passion

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We discussed finding your passion on The BIGG Success Show today. Click the player to listen, or keep reading for a summary of that discussion.

This show was inspired by a study on finding your passion to be published in Psychological Science.

The research shows people are led astray by the advice to “find your passion”. It makes it harder to discover one’s passion. So you get stuck. In fact, that’s a conclusion we came to years ago here on BIGG Success.

Fortunately, there is a better way…

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Did Someone Forget to Tell You?

A list of people who didn't listen and achieved BIGG SuccessAs we begin a New Year, we want to share a thought with you about some people you know (and some you may not). We have a question about all of them:

Did someone forget to tell them?

Listen to this post! Click a player to hear George & Mary-Lynn on The BIGG Success Show Podcast. (Duration 3:06)


iPhone/iPad/Android/Mobile Podcast Player

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Did someone forget to tell Jimmy Durante that he couldn’t sing? It didn’t matter to him. He became a star, thanks in part to his gravelly voice which made him noticeable.

Did someone forget to tell Albert Einstein he wasn’t smart enough? After all, he struggled with language his whole life. He didn’t start talking until he was three. And he failed a language exam when he was sixteen. Yet he is one of the people often associated with the term “genius”.

Did someone forget to tell Helen Keller that blind people can’t become authors?

She certainly didn’t let that little challenge stop her.

And lest you think these people are just “one-off” examples, consider John Bramblitt. Did someone forget to tell him that blind people can’t paint? In fact, it was just that – going blind – which lit the path to his passion.

Did someone forget to tell Josh Hinds that a person with a stuttering problem caused by Tourette’s Syndrome couldn’t become a public speaker? It didn’t stop him. He became a pioneer of personal development online.

Did someone forget to tell Bethany Hamilton that surfers need two arms? While surfing at the age of 13, a 14-foot tiger shark bit off her left arm. Yet she still became (and still is) an award-winning professional surfer.

Did someone forget to tell J.K. Rowling that a divorced mother with no money couldn’t become a BIGG success? You know the rest of her story. She’s the first author to become a billionaire.

We’ll bet you that…

  • someone DID tell each and every one of these people not to proceed
  • someone reminded them of the reason why they shouldn’t do it
  • someone told them they would fail if they tried

But they didn’t listen! If they had, we wouldn’t be talking about them.

So don’t let people stop you from pursuing your passion – the passion which will take you to BIGG success.

What do you really want to do?

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Success as an Entrepreneur Stems from 4 P’s

Four Ps for BIGG SuccessHow do you reach BIGG success as an entrepreneur? Remember the 4 P’s:

People

Put people first. This starts with you. Your business should serve you, not the other way around.

It continues with your employees. You may not have any at first, but as your business grows, the need will likely arise. Don’t neglect these people. Happy employees lead to healthy profits – another one of the p’s as you’ll soon see.

But neither you nor your employees will have any job security if you don’t please your customers. Attracting and, more importantly, retaining customers should be job #1 for everyone in your business.

Purpose

Your purpose lies where your passions and strengths intersect with a market need. You and your people are able to solve a problem for another group of people.

Your purpose defines your firm’s reason for being – your why. It should be easy to say and even easier to remember.

More importantly, your stated purpose explains the difference you make in the world. It should inspire you and your people to perform at your highest capacity.

Process

Stated simply, a process is a set of procedures. A set of processes forms a system – more specifically, your operating system.

Purpose helps define the what while process describes the how. Purpose helps you determine the right things day to day. Process helps you do them the right way.

Together, purpose and process help you do the right things the right way. You need them both to be a BIGG success.

Profit

Finally, we come to the final P – profit. Contrary to many people’s misperceptions, profit is not a dirty word. Without profit:

  • you won’t be able to replace equipment as it wears out
  • you can’t repay your bank debt
  • you won’t have any money to invest in growth
  • you won’t be able to justify pay raises
  • you won’t have the funds to hire more help
  • you would be better off investing your time and money elsewhere

Even non-profit entrepreneurs have to earn a profit if they want to serve more people. It may come in a different form than a for-profit entrepreneur but – make no mistake – it is essential for all enterprises.

There you go – 4 P’s that lead to BIGG success!

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3 Differences Between Passion and Purpose

the BIGG difference between passion and purposeAre purpose and passion the same? Is it just a semantic distinction?

We think not.

Your purpose may flow from your passion or your passion may flow from your purpose. In some cases, the person finds their cause. In other cases, the cause finds the person.

So they are similar, but there are important differences between the two terms.

Passion can be selfish. Purpose can’t.

You can pursue a passion for your own pleasure. It can be purely self indulgent.

[George] I love to sing. But nobody loves to hear it!

Purpose is not selfish. It involves serving others, but it’s not servitude.

It’s feeling joyful about creating joy. It’s about adding value in the lives of others while creating value in your life. It’s win – win.

Passion can be unbridled. Purpose is focused.

Passion is boundless. You can have many passions. You can spend countless hours on them.

Purpose is singular. To fulfill a purpose requires focus. It requires you to choose. But the decision is an easy one when your purpose is compelling.

Passion is what. Purpose is why.

Passion focuses on nouns. What do you love? It’s about the objects of your desires.

Purpose is your motivation, your why. It brings in action so it focuses on verbs. Purpose completes you.

Together, passion and purpose lead to BIGG success!

Do you see any differences between passion and purpose?

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