Work Your Passion
Almost any business will make you far more money than the pathetic rate of return you would get from passive savings.
Even if you are an investment guru and make 10% a year on your passive investments, that’s hardly even worth having. By the way, if you did this you would be better than almost every top investment analyst in the city and have people beating a path to your door to touch the hem of your robe!
If you made 10% a year consistently, you’d be known as the greatest investment advisor on the planet!
Yet thousands of others are quietly pocketing 50% PER MONTH returns on their ‘investments’ (e.g. their small businesses). Even a very poor business would make 30%-100% over a year.
I make this point to show you the returns you can expect from running your own show, but I’m not suggesting you throw a dart at Yellow Pages and then just set up shop in whichever business the dart happens to land on (although Yellow Pages can be a GREAT source of business ideas)!
You need to be more subtle than the dart method because I believe you must be passionate about what you do, or at least very interested.
How do you find out what you are passionate about?
Start by writing a list of your hobbies and interests – put down everything you’re interested in and don’t worry at this stage how you might make money from it.
Chances are if YOU are interested in it, others will be too and it’s far easier these days (with eBay and suchlike) to make money from your niche than it used to be.
To prove this I typed into eBay the very first thing that came to my mind which was ‘sexy gnomes’ (don’t ask why I thought of that…) and yes, sure enough, someone is selling garden gnomes in provocative, semi-clad poses.
Must get one… must get one…
Please write this list of hobbies and interests, don’t just read about it. If you haven’t done it within five minutes from now, you’ll never do it. This list could be a pointer to the sort of thing which you could make money from AND enjoy doing.
So go do it!