Page 60 - The $100 Startup_ Reinvent the Way You Make a Living, Do What You Love

When I asked our group of unexpected entrepreneurs about the follow-your-

passion model, I frequently heard a nuanced answer. Almost no one said, “Yes!
You should always follow your passion wherever it leads.” Similarly, almost no
one dismissed the idea out of hand. The nuance comes from the idea that passion
plus good business sense creates an actual business.

To understand how passion can sometimes translate into a profitable business,
look at the chart on this page. In addition to passion, you must develop a skill
that provides a solution to a problem. Only when passion merges with a skill that
other people value can you truly follow your passion to the bank.

Another way to think about it is
(Passion + skill) → (problem + marketplace) = opportunity

Although it is important, passion is just one part of the equation. If Gary’s
skill at booking award tickets suddenly disappeared, it wouldn’t matter how
passionate he is about travel. No matter how passionate Megan is about her
dresses, if a willing marketplace didn’t exist that is eager to buy them, she
couldn’t be in business.

The next step is to transfer your passion into a business model. Everyone
we’ve met thus far has used a slightly different business model to monetize his