21: Passion Isn’t a Business Plan
Are you running a business or a hobby that pays for itself? While we’ve all
heard that we should “follow your passion,” this advice alone isn’t enough
to sustain a healthy and profitable business.
As an admitted workaholic, I’ve been trying to create more space lately for myself outside of work. Though it’s been a difficult transition from my 9-5 to being 100% self-employed, I’ve been challenged to think about my client engagements and deliverables differently than before. And while I love the work that I do, I’ve realized passion is an incomplete picture of what makes a successful business.
In this episode I’m talking about:
What can happen when you place financial burden on your creativity,
The unintended consequences of the digital nomad culture,
How burnout is related to loving what you do,
Why you might need a passion project, and
Specific ways to shift your mindset around profits and setting healthy boundaries with your clients.
Big Magic by Liz Gilbert
Bureau of Labor Statistics percentage of small businesses that fail after 5 years