Find out how you can leverage your many passions to create a successful, thriving business — no sacrifices required.
As someone with multiple passions, I understand how hard it is to choose which to hone in on when you’re ready to build a business — especially when you don’t want to completely abandon any of your interests.
However, there are a handful of things you can do and keep in mind as you narrow down where you want to focus your entrepreneurial energy, and I’m diving into each of them today. You’ll walk away from this article more prepared to turn one of your passions into a profitable project without having to let go of your other interests.
Keep and Integrate Some of Your Hobbies
First things first: Not every idea, interest or passion needs to become a business.
For example, my dad and I enjoy competing in classic car rallies, and we’ve been very successful. We were considering creating a new business focused on teaching others to compete in rallies, too, but we got (and continue to get) so much enjoyment out of this hobby and didn’t want it to become work — and there is nothing wrong with that.
However, your hobbies and passions can serve as inspiration when you create content for your business and help enhance your brand’s message. I did this in a podcast episode called Become Unstoppable in Rallies AND Your Business With the FastForward Success Principles, where I explained how the principles I apply in business also benefit me during rallies.
The takeaway: Instead of creating an entirely new brand for each of your interests, consider bringing them into your core business when appropriate and using them to support your mission.
Apply the Y.A.H.O.O. Principle
The Y.A.H.O.O. Principle (You Always Have Other Options) is a great reminder that nothing has to be forever. This helps take the pressure off when you’re trying to choose a passion to pursue and makes it easier for you to get started because you understand you can eventually make a different choice.
Here’s how I have applied this principle: A little over two years ago, I decided to go all in on helping people become more financially independent while building businesses they love — that’s when I started my Business Freedom Elevator™. That program, born out of my passion, has helped thousands of people and generated millions of euros in revenue, but I’ve realized it’s time for me to move on to other passions. As a result, I’m closing the doors very soon.
Another example: I started my career as a fitness coach because I was so passionate about strength training, self-development and mindset work. I was dedicated to this path until I became more interested in business coaching, and that’s when I pivoted — which I always knew I could do because we always have other options. Plus, many of the lessons I learned in my fitness coaching business helped me become a successful business coach; we can always build upon the foundation we create, even if we tear the house down.
Remember, nothing you do is set in stone — unless you record a sex tape that gets leaked on the internet.
Create a Stop-Loss
When you start your business, I suggest you determine a stop-loss — in other words, decide how much you’re willing to let something cost you or at what point you’re going to get out.
This will require you to be rational, which may be challenging because your passionate feelings can overcome your logical brain at times. However, if you commit to a goal (for example: reaching a certain profit amount by a certain date), you can be more objective when reviewing your progress and have a better understanding of when it’s time to pull the plug.
Additionally, you need a plan in place that allows you to get out of your business. That way, when you’ve reached your stop-loss, you’re ready and able to move on relatively quickly and easily.
The harsh reality: If you fail to create a stop-loss, you will probably stay in your business longer than you need to — this mistake could cost you a lot of money, time and energy.
Find Your Core Offer Sweet Spot
Your core offer sweet spot is in the center of a Venn diagram that includes three circles:
- Something you’re really good at (and that you love) — this is indicated by an A+
- Something that people love and want in their lives — this is indicated by a heart
- Something people will actually pay money to have — this is indicated by the euro symbol (€)
For me, my core offer sweet spot is sales and launching, and it’s why I’ve been so successful. Not only am I passionate about these topics, but I’m also highly skilled at them, people want to learn how to be better at them, and people are willing to pay for my knowledge and expertise.
The problem many entrepreneurs have is letting their egos take over. Just because you love something doesn’t mean it can translate to a profitable business — instead, you need to find a business idea that hits the sweet spot.
Confront Your Fear of Failure
If you are struggling to hone in on a business idea, answer this question as honestly as possible: “Are you really struggling to choose your main passion – or are you afraid you’ll fail if you go all in on your choice?”
Your inability to decide a path to pursue may be a disguise for your fear of failure because if you never start something, technically, you can never fail. However, if you don’t choose, you lose — you never create anything, and you stay stuck exactly where you are.
To ensure you don’t find yourself in that situation, review the tips from this article, make an informed decision, execute your plan and commit to your success!
Now that you’ve determined your focus, do you need help launching your business? Download my FREE Launch List to get 10 of my best tips to attract the right potential buyers, avoid making critical mistakes and help ensure your launch is successful! To get this free resource, visit the link now.
I’ve included a quick recap of all 5 tips so you can screenshot this article and take it with you as you focus on choosing a passion to pursue and building a business you love!
- Keep and Integrate Some of Your Hobbies
- Apply the Y.A.H.O.O. Principle
- Create a Stop-Loss
- Find Your Core Offer Sweet Spot
- Confront Your Fear of Failure
Are your multiple passions causing issues in your planning and work-life balance?
Follow my free Dutch training: “De 7 Geboden: Passievol Ondernemen Op Eigen Ritme” and find the rhythm that fits YOU.
PS: If you want to work with me but aren’t sure where to begin, head to fastforwardamy.com/findyourfit and answer the questions — we’ll point you in the right direction!