Your Passions Are Keeping You Broke — Do This Instead
20% of passion pursuers make 80% of the money. You MUST stand out.
I went from broke photographer to media team manager.
Like anyone who accomplished a goal, my success didn’t happen overnight. I turned my passion into a reasonably paying 9–5, and I am the person I always wished I’d be.
Here’s why your hobby won’t make money, but what you can do about it.
The mindset shift you need to make
“You’ll never make a living taking photos,” — Me to myself
Post-grad Ryan was kidding himself. I was a 22-year-old kid who liked taking photos of my friends but had no real direction.
I landed photo gigs here and there, but I traded my time for money. I’d accept any job that paid $25/hour, and as a photographer, I had to do what I could to build my portfolio.
But a portfolio alone doesn’t cover rent.
The pursuit of passions can be a real drag on your bank account. It’s all good to say, “do what you love, and the money will follow,” but the truth is that for most of us, that’s not how it works.
Don’t get me wrong…
I’m all for following your dreams and pursuing your passions.
“Do work you love, and you’ll never work a day in your life.”
Just consider how many others want to do what you want. Competition in creative fields like photography is real, and if you want to stand out, you need to commit your time.
20% of creators make up 80% of the market share. The other 80% of creators are left to fight for what’s left.
Consider alternative strategies if you want to pay rent and buy more than just ramen noodles for dinner.
This is where the mindset shift must kick in. It’s usually less about how you can be better at your passion and rewire your brain to embrace the suck.
I worked multiple part-time jobs, freelanced on the side, and wrote blog posts for two years before I landed my current gig.
But throughout the process, I developed a 3-step guide to turning what you enjoy into your main income generator.
1. Find a way to monetize your passions
Most think chasing a passion leads to financial freedom from the 9–5.
Let me offer another point of view. What if you use your passion to land a full-time gig with a company? One that makes consistent revenue and pays your health insurance.
It seems crazy, but it’s a safer route than going alone.
Companies will pay hundreds of thousands to individuals with media and content experience. There are two reasons why:
It’s cheaper to pay an in-house creative than a production company.
It’s cheaper to run paid ads on social media than on TV
These days, a given company’s target audience is more likely to convert to a smartphone than a television.
Find a job that aligns with your passions instead of making your passion work for you. It’ll save you a ton of stress.
I know it’s possible because I did it.
2. Don’t quit your day job (at least not yet)
Most pursue a passion to quit their 9–5.
I originally intended on working for myself for the rest of my life when I started freelancing, but I wasn’t ready. So turned my passion into a full-time role.
But if you’ve landed a day job this way, you know the grass isn’t always greener.
I know; quitting your day job to pursue your passions full-time is seductive. But before handing in your two weeks’ notice, consider the financial realities of your situation.
Can you realistically afford to give up a steady income to pursue your passions? If not, keep your day job while you work on building your passion into a viable income stream.
3. Build up your savings
If you manage to monetize your passions, it’s essential to have a financial cushion to fall back on in case things don’t go as planned.
Building up your savings will give you the peace of mind and financial stability to take risks and pursue your passions without worrying about money.
In addition to the previous steps, it’s important to remember that not every aspect of pursuing your passions will be enjoyable.
There will always be tasks and responsibilities that you don’t particularly enjoy but are necessary for your pursuits' overall success.
So how can you find joy in the things you don’t want to do?
My job is often a fulfilling one. It’s better than data entry, but it’s draining. I don’t always love clocking into work, but these are the natural ebbs and flows of a career.
Here are a few suggestions from my own experience.
Remember the bigger picture.
It can be easy to get bogged down in the tedious tasks and responsibilities of pursuing your passions.
Still, it’s important to remember the bigger picture and why you’re doing what you’re doing.
Whether it’s the sense of accomplishment, the impact you’ll have on others, or the personal fulfillment you’ll gain, the reason you do it can help you find joy and motivation in even the most mundane tasks.
Find a way to make it fun
No person, book, or Tweet says you can’t have a little fun while getting things done. And if they do, they’re BS.
Listen to your TRON vinyl while you work from home, work with a friend or significant other, or treat yourself to a small reward after you’ve finished a task.
Finding a way to make the things you don’t want to do more enjoyable can help you find joy in the process.
Practice gratitude
And, of course, it’s easy to get caught up in menial tasks and forget about everything we enjoy.
Practicing gratitude can help shift your focus from the negative to the positive and help you find joy in even the most mundane tasks.
When I have a tough day, I practice gratitude by saying out loud one positive thing that happened to me today. I don’t let myself quit before I’ve said something.
Because even on the most stressful work days, there’s always something to be thankful for.
I’ll start with this…
I’m grateful for the opportunity to write online, work with a community of like-minded individuals, and share my stories of self-development.
It’s good to know we’re all in this together, trying to find meaning in our lives. With a commitment to ourselves, anything is possible.