Topic: Can your passion lead to an increase in your net worth? - page 3. (Read 1120 times)

Emotions can never be the reason for people's success because people can never make right decisions through emotions, wrong decisions are often made through emotions. When you apply for a job, you will be tested by your skills, experience and knowledge, where passion is valued. There is no value for emotion in the workplace, you must always think carefully. Because conscientious people make fewer mistakes and emotional people make more mistakes. You have given an example of a person who succeeded because of his passion but thousands of such people failed only because of his passion, so in these cases we should always avoid our passion. Wise people always say that you never make important decisions when you are overly angry or angry because those decisions will never be good for you or your work.

In as much as I will agree with what you said above. I still have some exceptions times some people's passion may not generate money for them. Some passions are not monetizable and that is why before becoming so passionate about something you should also understand if it will generate money or not.

The main aim of being passionate about something is to derive happiness and not to make money. But if you are lucky, that you can make money from your passion, that is a win-win situation for you.

The two stories that you describe are of the many success stories that have been carried out by people who have managed to increase their wealth list after following their passion. Someone who has passion certainly has high motivation in life, they will pursue their dreams at the expense of strategic positions in large companies.
There are so many benefits that can be obtained from own business, the first profit is obtained by people who pursue their passion to become bosses or leaders in their own business. Apart from that, the benefits of being your own business have indirectly created jobs for other people, they also have a lot of time with their families.

Will matter depend on your capability and your availability to do it since you cannot follow your passion if you are the bread winner of your family since you can't risk to have no job for months just follow your passion since you and your family will get hungry for that. That's why when its early its good for us to think about our future so that we can place things all at good place and avoid any disturbance if we want to follow some tracks that we want to do and most important of all don't get married early if you are not financially ready since this could kill your dream especially since with this status you can't afford to risk anything since obligation will always hunt you.

Having the passion would be always recommended but you cant really have it all most of the time or all of the time on which means you would be needing to adjust instead.Nothing beats out on doing work inside your passion on which you would really be making yourself that efficient since you've been doing on what you do like but just like on what others been saying that there are really moments or things in life
on which you dont really have no choice but to deal up with something that would really be that getting against your interest and since you dont have some choice then for sure you would
really be dealing with it and you would really be that not much efficient but well we do have our own will on what are the things that we are dealing with. Increasing networth is something
that we would really be prioritizing but due to lack of opportunity and interest then it would be that useless or having no sense at all.

Agreed to all. I'd say 100:1, 100 being attempts, 1 being successful in the venture...maybe worse....but what is life without risk?
As for external conditions, this is probably more so the reason for failure than it is on the person. If those external factors weren't factors and it all came down to the persons' effort and hunger, I'd say the odds of success would go from 100:1 to 10:1, maybe even 5:1 or 3:1. There are always external factors however, that's a part of what should be factored into the plan that should be created before going ahead and starting a business.


Maybe I worded what I was trying to say incorrectly. I meant that the same general approach to a hobby (spontaneous, leisure, non disciplined etc) or a hobby-like passion can't be turned into a business in the same way, exactly for the reasons that you said (requires methodical and analytical approach). While I see what you are saying with enthusiasm being the hallmark of a passion, that doesn't mean that the same enthusiasm would go toward the new mundane tasks that a business would require to succeed in the near and long term. No doubt that the enthusiasm will help, and no one should really start or run a business without a level of enthusiasm, though I wouldn't say that this is enough to improvise or overlook the complexities and mundane tasks that are involved in running a business.

You can be profitable in any business you do, but doing a business you have a passion for has more chances of increasing your net worth. You're dam going to spice it up because you love what you do and thereby putting all effort to attract more sales in your business.
 Most successful businessmen are people who do business they have a passion for, take for instance, Elon Musk, Markzukaberg left school to develop Facebook App and Bill Gates is successful today because they have passion for what they do.

There's no denying the allure of turning a hobby into a moneymaking enterprise. But your success rate numbers are grim; they reflect the hard truth of starting a business. This is a road less traveled, for sure. But could there be elements beyond effort and time that make a difference? Perhaps external economic conditions, market saturation, timing, competition, a distinctive value proposition, and other factors all play a role in deciding the eventual fate of these enterprises.

Furthermore, I have to politely disagree on one point: the assumption that a business founded on a passion can't be treated like a hobby. Even while running a business requires a methodical and analytical approach, wouldn't you agree that the hallmark of successful passion-based businesses is that they keep an element of enthusiasm akin to a hobby? Finding that sweet spot might be difficult.

Passion is interesting when it yields no money, but gets difficult when it turns to work. I've read a case where a person who his love for Lamborghini is incomparable ended up getting his dream job, indeed, to race with Lamborghini. He ended up getting bored doing the job; due to fatigue, and stress. In additional, like someone already said, if the passion is not on demand, it won't yield profits. Blogging for instance about yourself, could be a passion, but nobody cares if you brushed your teeth, hence the traffic will be poor and instead of yield profits its decreasing the zeal of blogging in you. In a nutshell, people should work on things that nobody else would do; what they hate. Those things people hate doing can increase our economy if we venture into it, because they hate doing it, they'll pay us to handle it for them.

It depends I guess.

I mean, for example is if you're an artist, like you do love painting and it is your passion, but you don't know how to market your paintings and there's still something lacking in your paints, then you're going to have a problem selling it to people. So it will depends first on how good you are as an artist of your passion, and how you will market it correctly to find people who are looking for such thing that will pay you a good price.

Unless you are single and only feeding yourself, people right now want their passions, like traveling while at work or living life to the fullest, which I think all of us wanted before, but because you have a family to feed, you don't have any choice but to accept that your job is not your passion right now, and a lot of people right now are really doing this just for their families, not for themselves.

Following what one is passionate about and that it turns out as expected is something exciting but sometimes this does not happen the first time that is why i agree that in certain circumstances not everyone manages to succeed with the goals they set, but there are those moments in which it has nothing to do with the fact that it is a bad business or that we do not have the skills to achieve it but because it is not the time to do it, It may just take time and greater preparation..for example.. there is a case that I would like to mention and it is that of the owner of KFC who achieved his dream after many years of trying that's why i consider that it is never too late and always doing things from the heart is what really penalizes.

I think it all depends on the profit, because if you follow your passion without making a profit or helping your family then that passion is useless. I believe not only me but many of us are doing work that is not our passion, all for profit, for our survival.  there are very few people who can follow their passion and become successful.  honestly, when I have a family and children, my passion will make a lot of money, as long as there is a job that brings a lot of profit, I will be passionate.

From what I can say, it looks like it has to be regarding the business you are doing. I mean some people do some jobs that are amazing in profit and they love doing it so their passion is profitable business, some people do stuff that makes no money at all and that turns out to be a terrible idea financially, and yet they still do it because its their passion, and some people give up their passion because they need to make some money somehow and following a passion that has zero profit means they won't be able to afford anything. So all in all, it depends on the passion and how profitable the passion is. But as in anything, the great ones in anything will make a good profit.

If there is a niche, need or demand in your hobby, then it can be monetized. Though it depends on your commitment too. In both of these stories, those who succeeded had quite their employment to be able to make time for the creation of their business, or passion into their hobby. Anyone can give that a shot, though it is a high risk pathway and only 1/10 will dare to take the risk, and only another 1/10 will succeed after taking that pathway.

Just because a passion can be turned into a business, it doesn't mean that a business should be treated like a hobby or passion. Plans and sacrifices must be made before starting the journey and to ensure its success. Otherwise the failure might destroy the taste of the passion (and your wallet).

Getting your first client or selling out your initial product would be the toughest challenge that you would really be having specially if you are really that getting in line with your passion, its true that this is much

preferable compared on doing on something that you dont like but this isnt always the case because if you are in a situation on which you cant really be finding yourself to be that on that area but you dont have no
choice since you are really that needing to have an income, then you would really be finding yourself to make out adjustments basing up on what you are currently dealing with and despite on having
not that getting in line with your passion but you dont have any choice but to accept that fate. It is really just a matter of personal choice on what you should gonna do.

Increasing networth? It would be the least thing that you would be having in mind on the time that you have stick into your casual dayjob which you are really that get used to.
But there are people who are really that mindful about such stuff.

Passion is just a single factor that is needed for success. But lucky are those who have developed passion from the start because that will also increase their chance to succeed. However, aside from passion, there should also be dedication, patience and discipline, and most importantly you need to gain knowledge and develop your skills on it. If you can achieve all of this, then success will easily come for you.

I can definitely say, turning your passion into profit may sound easy as you already have the skills to deliver good results, however the hardest part is finding a good market and some excellent business and marketing plan. But at the same time, I can also say, there is a huge chance for you to succeed with it, simply because it is what makes you happy that you're not only doing it for money. But then again, building your own business may demand double or triple your effort compared when you're working for a company.
I guess the main reason why a lot of people did not dare to do it is because they are afraid of failure.

I can put myself in this situation as well. I had a talent in drawing and I really wanted to become a full time tattoo artist and build my own studio, but for that same reason, until now I haven't made even a single step to bring that closer to reality.

Yeah if you are having passion for a business and you are able to establish it, then you are going to put more effort just to make it successful, their is always joy in doing what you really having passion for, but before you can be successful you need to have passion for the service that’s needed in the society, because if you are having passion for the wrong thing, then I don’t really know how you are going to be successful. What some people are having passion for, they don’t have the financial capability to establish it, so that’s why most people don’t really go into what they are having passion for.

It actually crosses my mind. Whether to pursue my passion in web3 or go with my career as an engineer by profession. I choose web3, why? because that's makes me happy and also this market is very profitable. So I choose happiness and also a profitable career, it doesn't matter if I studied very hard and long to get that degree, I am happy with my choice now and it gives me peace of mind.