Key to Success: Talent + Passion + Market

Do what you love and the money will follow, right? Maybe. Maybe not…

Don’t get me wrong; I am huge believer in doing what you love. But there is more to success (materially and fulfillment-wise) then just doing what you love. There are plenty of miserable people in the world trying to “do what they love.” A little thought and analysis of the approach could help them all out.

Passion is important, but, in order to create a successful venture, you need three things:

• Talent – Do you have skills in this area?
• Passion – Are you interested and motivated in this endeavor?
• Market – Are there people willing to pay money for this?

Full disclosure: This is not my original theory. I’ve heard this from a few places, but the person I first heard it from (and have recently reheard it from) is Alan Weiss (I also read his new book, Thrive: Stop Wishing Your Life Away, which is quite good).

Too often, people launch with only two of the three. Or worse, buying 100% into the “do what you love and the money will follow” adage they launch with just the passion. But if even one piece is missing, you may be setting yourself up for failure. Take a look:

• Talent and Passion (but no Market): Hobby
• Passion and a Market (but no Talent): Daydream
• Market and Talent (but no Passion): Dead-End Job

In some cases, two out of three ain’t bad. There’s nothing wrong with doing something as a hobby, but make sure you see it as a hobby and not a business. Doing something that you are good at and makes you money but you have no passion for isn’t the worst thing if you are doing it to make ends meet while moving towards something more fulfilling. Holding on to a daydream is ok if you then invest the resources to develop the skills you need.

The challenge comes when we delude ourselves. We ignore the fact that one or two of the three components is missing and then wonder why the heck we’re not making it.

If you don’t own a business and never plan to, this same three factor approach can be applied to your career choices as well. Is what you are doing now taking advantage of your skills and talent? Do you have a passion for it? Are people willing to pay for it?

Whether you are running your own business or taking a job for someone else, if the answer is “yes” to all three questions, you are on the right path for a bright and happy future. If not, then it may be time to rethink or tweak your approach.

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By Avish Parashar. As the world's only Motivational Improviser, Avish uses techniques from the world of improv comedy to engage, entertain, and educate audiences on ideas around change, creativity, and motivation. Connect with Avish on Google+

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