Are you after money or lifestyle? Passion or Dollars?

[Andyhenry]

Hi Warriors,

Whenever someone new to Internet marketing posts a question about how to start there's usually 2 standard answers:

1 - Follow the money

2 - Follow your passion


The general difference being that you should either decide your business model based on where there's already money flowing and put yourself in front of it, or start with something you're passionate about because there will be others who are also passionate, plus you'll enjoy what you're doing.

Now, at some point there seems to be some confusion about choosing between these two strategies.

If you've found that yourself, here's why......


You don't have to do one or the other - you can factor in BOTH.

There's no ONE right way to be successful and anyone who tells you there is just plain doesn't know what they're saying.

Since we're all individuals and we have different preferences, standards, ethics, experience etc. there will never be one method that fits everyone.

Just because something works for one person doesn't make it the right thing for someone else.

In truth both pieces of advice are sensible - tapping in to an existing flow of money is a sensible choice - however, for some people if they're not interested in the niche then they just won't put the effort in that they need to.

So when you see/hear advice about how to start - just remember that you don't have to pick one method, you can create a model that suits you - that's really the only right way there is.

Andy

[Mike Morgan.]

If possible I would prefer to go taking into consideration both factors .

Mike

[ramonica]

I think that the money follows when your work is also your passion.Do what you like, what you are enthusiastic about,become the expert on your favourite topic and find a way to provide other people who share your hobby with related information or resources.
Bulding a community based on your favourite theme would also be a solution to find out what people are most interested of in your topic of expertise.Then provide them with what they most want that would be an achievable project for you.
I guess that a lot of work is involved in order to make lots of money, even if you enjoy your work.

[Kevin Riley]

Andy

Lifestyle is my main reason. Of course, I need money to maintain that lifestyle, but there are a number of business models I could employ if it was just for the money.

With what I'm doing now, I have no employees (big plus), no set hours (so I can work through the night if I want or take days off and do as I please), and I can run my business from the other side of the globe (very handy when Rieko and I are in Europe).

[yuyuan]

I think that both lifestyle and money are important... and of course, everyone wants to enjoy the lifestyle of being financially free and work whenever you want. However, like what Kevin Riley has mentioned above, without the money, you can't maintain the internet lifestyle that you want.

So I believe that entrepreneurs can take both lifestyle and money as their driving force to start business... as long as they are have a strategic model that can make money.

[jaijav29]

well, for me if possible both, too. For you can have passion and money. You cannot have money if you dont have passion, right?

[Andyhenry]

Originally Posted by jaijav29

well, for me if possible both, too. For you can have passion and money. You cannot have money if you dont have passion, right?

Well that's one of the contentious points isn't it?

You CAN have money without passion.

There are a LOT of things I could do to make money that I don't do - because I'm not passionate about them.

However, I used to do a lot of things 'just' for the money. I would kid myself that they were 'interesting' so that I could create some passion but I knew that given the chance I would happily drop them for something more fun or interesting.

This is the downside of the follow the money alone rule - you get easily distracted because were it not for the money, you wouldn't even be doing it at all.

[JayXtreme]

Initially, I did it purely for the money, to escape my fathers business, employment and my other business interests.... then I grew to love every single aspect of helping people to solve problems...

The process is what keeps me switched on, new niche, new set of demographics to explore and find what they need...

My passion is the process, this came AFTER the money...and now they both are in sync together... almost.

Peace

Jay

[Andyhenry]

Originally Posted by JayXtreme

Initially, I did it purely for the money, to escape my fathers business, employment and my other business interests.... then I grew to love every single aspect of helping people to solve problems...

The process is what keeps me switched on, new niche, new set of demographics to explore and find what they need...

My passion is the process, this came AFTER the money...and now they both are in sync together... almost.

Peace

Jay

That sounds like a great way to enjoy whatever niches people have an interest in - since THEY are passionate it's still leveraging that to help them become successful.

I tend to go in waves. Sometimes I have zero interest in the process and other times I love to sit for hours creating a method for plugging lots of elements together.

I used to make a lot less money when I was just doing it for the money - weird

Andy

[Richard N Adams]

For me, things are far more about the lifestyle. Sometimes I will read about another marketer making millions of dollars each year but then you find out they have offices, dozens of staff and all the problems that goes with that - office politics, fixed hours, health and safety, big overheads etc. Many of the well-known "gurus" it seems operate like this and while some people gaze jealously at these "masters of the universe" I just look at all they're missing out on.

Personally I'd rather earn what I do and have the freedom to do what I want rather than increasing my income by sacrificing my income. Now, don't get me wrong - if I can increase my income *without* reducing my freedom then great - but the two often seem to go hand in hand.

My goal this year is actually focused more on reducing the time I have to spend on things than on increasing my profits.

Disclaimer - These are of course just my opinions and there is no right or wrong answer to this so if your opinion differs then cool! I can see this thread getting some pretty passionate responses ;-)

All the best,
Richard

[lithotoyz]

Hi, I think you should follow your passion, and the money will follow. Why? Because when you work with a spirit of passion it shines through in your work revealing your excitement and your work ethic. Others can tell you are not just out to make a quick buck. They can tell that you really care about what you're doing. They will be much more likely to follow a person who brims with enthusiasm, and possibly buy their product offerings.
There is a problem with this, and herein lies the rub. What if your passion is in an area where people do not spend money? Maybe your target market doesn't have money to spend like people do in other areas. Even if you're the most passionate person on the internet about your topic, if people aren't willing to spend money on it, you don't have a business.
I think that's one reason why people fail, they try to force passion in an area where money is spent, but they care more about another topic. "Forced passion" is a dead giveaway. Some people think they can pull it off, and probably do. By nature, I'm just not one of those who can feign interest. I don't think that dooms me to failure, I just have to be creative enough to get people to spend money on things that are available for free elsewhere. We all have to find our USP. It's just harder in some areas, but it can be done.

[d3sign3r]

You need money for everything, thats what I believe. And the best solution probably is to follow the money passionately.. it will automatically effect on your lifestyle.

[jerson]

lifestyle depends on the person . whether he can share his money

[jayden.fellze]

The passion in your work is really a great factor to make more money. Though the making of lots of money is a sure big bang but loving your work gives a greater impact.

[bgmacaw]

Here's my answer

YouTube - Spinal Tap - Gimme Some Money

[Andyhenry]

Originally Posted by Richard N Adams

For me, things are far more about the lifestyle. Sometimes I will read about another marketer making millions of dollars each year but then you find out they have offices, dozens of staff and all the problems that goes with that - office politics, fixed hours, health and safety, big overheads etc. Many of the well-known "gurus" it seems operate like this and while some people gaze jealously at these "masters of the universe" I just look at all they're missing out on.



All the best,
Richard

I completely agree.

I leave a lot of money on the table because I'm simply not interested in working my ass off just to make more. For me it's ALL about the lifestyle.

I don't believe there's a work-life balance - everything is your life so my whole focus is on traveling (I lived in Singapore for 3 months of last year and moving to US for 3 months soon) and spending time with friends and family (plus meeting new friends) while working at things I enjoy in order to pay for it all.

Everyone is different and peoples priorities change as they live their life so there is no right answer only what's right for you.

I love traveling so I keep doing it. I just made sure I have portable skills so I can make good money anywhere.

I'm considering putting more focus on my music (I love to play and interact with others) so I think this year will be a big year in that respect, but I've also started another company recently and changing the business model of my software company so there's a lot of factor-in, luckily travelling doesn't negatively impact any of it.

Andy

[Johnathan]

Hi,

I think intially most people get into it because they "need" the money. Looking at IM (or any other business for that matter) -- is to "get" money.

Once people start taking care of their basic needs and have that met (i.e., food, shelter, transportation) -- then they start looking at following their passion.

It may sound kind of backwards, but in order to follow your passion you usually need to pay the bills. I suppose most people are risk-averse, and don't want to take chances -- they like a 'secure' lifestyle. Following your passion means jumping out of your comfort zone and taking these risks. Most people don't have what it takes, and need a bit of security first before they can make that leap of faith.

[Shy]

For me it started as a hobby...then evolved. Right now it's a combination of lifestyle and money.