| Work with Passion
Turn
Passion Into Profit
Snake Rock has recorded a number-one single and played alongside
legendary bands at some of the hottest venues in the country,
but the 46-year-old musician never imagined that his passion
for rock 'n' roll would become a lucrative business. "I
always thought I would work all day and play clubs at night," says
Rock. "I never imagined that my passion would become
my full-time job."
Entrepreneurs around the country are ditching the idea
that hobbies are just leisure pursuits, opting instead to
turn their passions into thriving businesses. "There
is a wonderful trend that has entrepreneurs starting businesses
that add meaning to their lives," says Nancy Anderson,
a Larkspur, California-based career counselor and author
of Work With Passion. "People are letting go of the
belief that it is impossible to make money and also do what
you love."
Rock eventually grew tired of working as a construction
supervisor, and playing gigs in local clubs began to lose
its appeal. He was convinced that playing with his band was
the only way to feed his passion-until his wife and band
manager, Karen, suggested an alternative. "Karen encouraged
me to start giving music lessons so I could turn my love
of music into a career," he says. "At first, I
was a little intimidated by teaching, and I was worried that
no one would sign up."
Fear of failure is common among almost all business owners,
but Anderson believes that entrepreneurs who are passionate
about their businesses are much more likely to be successful. "Working
with passion is about more than just making money; it is
about being fulfilled by your work."
Lay the Groundwork
Dawna Stone spent months researching the viability of a magazine
for active women before launching Her Sports in 2004. In
addition to holding focus groups to assess reader demand,
Stone spoke with advertisers to gauge their interest and
sought advice from people with experience in the publishing
industry.
"I am so passionate about participating in sports and
being active, and I wanted to take that passion to the next
level and turn it into a business," says Stone, who
used a combination of savings and loans from family and friends
to start Her Sports. I did a lot of research to make sure
it would work."
The risk paid off. Her Sports published its debut issue
in March 2004, and the magazine has grown steadily over the
past year. Sales, which reached $300,000 in 2004, are expected
to more than double to $800,000 in 2005.
To ensure they were ready to open their own business, Snake
and Karen Rock decided to offer music lessons on a part-time
basis from their home studio in 2002. "Snake was teaching
in the evenings and on the weekends, and it got to the point
where we couldn't take on any more students," Karen,
49, recalls. "We had to make the decision to our regular
jobs or take the leap and turn it into something bigger."
Before they started S&K Music last fall, the Rocks
developed a business plan and spent a significant amount
of time assessing the likelihood that their business would
be successful. The couple evaluated the competition, talked
to prospective customers and asked students for feedback
about similar businesses. Based on this research, they created
the plan for S&K Music, a full-service instructional
facility offering music lessons, instruments, sheet music
and a recording studio. Additionally, the couple chose a
location in an up-and-coming area of Las Vegas where there
was little competition. "In Las Vegas, the market is
somewhat untapped," Snake says. "We did a lot of
research and decided to take the plunge."
"A lot of would-be entrepreneurs have a passion but
lack the courage to follow it through to a business," says
Theresa M. Szczurek, a Boulder, Colorado-based technology
and management consultant and author of Pursuit of Passionate
Purpose. "There will always be people who want to rain
on your parade and tell you all the reasons you can't do
something.
If you want to turn your passion into a successful business,
you have to have self-confidence." |
