Have you ever asked yourself that question or given any thought to what you’re really passionate about?
This is important if your goal is to make your First Million Dollars.
Whatever Million-Dollar Business Idea you come up with and decide to pursue, it must be first and foremost born of something you’re passionate about. Otherwise it is doomed to failure from the get-go.
Passion serves as your fuel. Passion makes you want to jump out of bed in the morning and get going. Passion turns working long hours into having a lot of fun. Passion moves you to do something, whether you get paid for it or not. Passion generates a big enough Why to see you through the bumpy times and the sacrifices you have to make along the way.
Passion is a very valuable, powerful and essential ingredient in your pursuit of wealth.
The other side of this coin is to make sure your Million-Dollar Idea solves a big-enough need and serves a big-enough market to make you your First Million Dollars.
This flies in the face of the do-what-you-love advice widely promulgated by wealth gurus.
There’s a reason why 90% of new businesses fail within the first five years. These businesses are often based on personal needs and preferences, rather than the needs of a viable marketplace they should be attempting to serve.
Provide massive value by solving a massive need, and you will create massive wealth for yourself by having massive impact. A real market need is very much part of that formula.
You want your business to eventually provide you with the freedom of time afforded by the money it generates, either by the way it’s set up or by its eventual sale.
So remember, your motivational fuel for your financial and business success is Passion,not Love. When you find that passion, when you find your Why, nothing can or will keep you from accomplishing your goal.
Rich Patenaude
Wealth Coach to Young Adults
