Monday, May 18, 2009

Why your passion should be a business

I imagine that all of you have heard the advice that you should enjoy what you do. The idea seems to be that you should find a job that meets all of your needs, and then find a way to make it fun. I would like to suggest a different approach, and it is the approach that I took to starting Summit Up. Come up with an idea, and then build a business around it.

Climbing the 50 state highpoints is my goal. Summit Up is the business that is going to make my goal happen. It is very important to see the difference between the two. One is the end result, and the other is simply the vehicle used.

Now, there are countless reasons why building a business around your goals is a great idea, far to many to be listed here. I will touch on a few big ones to help you see what I am talking about.

The first is that knowing how to runs a business should be a priority to every individual. You don't have to make your living running your own business, but you should understand what it takes. It will make you a better father, wife, uncle, sister, employee, friend, whatever. When your goal is pushing you to create a business, it becomes exponentially likely that you will do it.

Second, once you create a legitimate business around the idea, your expenses begin to become tax deductible. Rather than paying for you trip with money left over in your paycheck, you are paying the expenses first, and getting taxed on what is left over. Quick example, the gas it took to drive me on the first set of climbs, it was a write-off. All 3,300 miles worth.

Third, people respect your goals more. I know this sounds shallow and stupid, but think about it for a bit. Most of us don't go after our goals because of what our friends and family think. It is their eye-rolling at the beginning stages of your idea that stops you. Having the entity of a business there gives you an immediate buffer from insults. You will hear, "This business will never work" rather than "You idea will never work." Remember, it is the idea we care about, the business is just the vehicle.

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