Entrepreneurship: When Passion Doesn't Pay the Bills

For most of us, becoming an entrepreneur and being able to spend our days making a lot of money around something we're deeply passionate about seems to be the professional goal. But what happens when we're unable to monetize our passions into something that sustains us financially?

The other day, I ran into a friend's adult daughter who was at this very crossroad. See, her passion revolved around music; she's well-versed in all genres, writes her own music and seems to be able to carry a tune as well as any American Idol contestant. (I'm tone deaf, but she sounds good to me.) She majored in music in college and had dreams of living comfortably off her talents. That is, until reality set in.

Today, at age 27, she works during the day as an office assistant; a job that pays enough to cover her bills. She still works on her music, but it's mostly on the weekends and she still hasn't made money from it.


The Mindset of an Entrepreneur



As a parent, I couldn't help but show her some empathy, after all we want nothing more than to see our kids happy all throughout their lives. What she lacked was the know-how to monetize her talents - the key component to being able to fully carry out one's passion as a career choice.

Like many young adults, the lack of knowing how to think like an entrepreneur and seize financial opportunities prevents them pursuing their passions. As a result, they are forced to take on jobs in careers of little interest because the reality of responsibility has come into play. They're disillusioned and rightfully so - their entire childhood has been spent honing those skills based on their talents with little consideration of how they will make a living at it.

The truth is, as a performer, she's replaceable. There are loads of people out there with comparable talents, some of whom get their 15 minutes of fame and many who don't. Those who do make it have figured it out. They know how to brand themselves, take necessary risks, spot opportunities and monetize their efforts. They've learned to think like an entrepreneur and apply those skills to their passions.

An Entrepreneur Monetizes His Passion

Socially, we tend to focus on building skill sets around our passions.  As kids, honing our talents provides an illusion that we will be at the top of our game and with good grades in school and a college degree behind us, who wouldn't want to employ our talented selves?  The reality is those who have learned the monetary value behind their talents and curb their ability to be replaced as a asset in the workplace will have a higher probability of having a career around their passions than those who don't.

It's delusional to think that the simple formula of grades, talents and a college degree is the ticket to the Professional Garden of Eden.  Like my friend's daughter and many of her peers, she followed that path because she was told that was the winning combination and right way to go.  Now, as an adult, she's realizing there was more to the equation and that the system failed her.  She's become dependent upon others for her financial survival as an employee as she watches her dreams of becoming a musical star slowly fade away.

An Entrepreneur is Made

Entrepreneurship spans all industries.  There isn't one career that doesn't involve an entrepreneur at the top.  And there's more to taking a product and asking people to buy it.  Other factors come into play and there are things people need to know (through formal and informal education) when starting and running a business.

Just like honing a specific skill around your passion, an entrepreneur hones his entrepreneurial skills.  Teaching a person to think like an entrepreneur takes time and practice; it's not something you just wake up one day and successfully do.  Sure, not everyone wants to become or is wired to become an entrepreneur, but everyone has the capacity to think like one.  For most, it's the difference between realizing and living out one's life doing what they love or working job because they have to.  Entrepreneurship is a necessary skill that compliments all others.

Find your passion.  Think like an entrepreneur!

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