Is there really anything better than making money doing what you love? According to a survey published by the Washington Post, only 13% of employees around the world actually enjoy going to work. Unfortunately, that means you are likely one of the less-than-satisfied 87%. If that is the case, how can you turn things around? One way might be to invest your time in a hobby you love and turn it into a lucrative business. How can you do so?
All great success stories start the same. Someone had a dream, a passion, an idea and they ran with it. Take for example Richard L. Bednar. He is the Chairman, CEO, and president of TenPoint Crossbow Technologies; a business that has been thriving for the last twenty years. Richard’s passion was archery from a young age. He even competed internationally and qualified for the 1976 Olympics.
How, though, was he able to channel his passion into a several million dollar company? He found a product that was in high demand and that still related to his love for archery; the crossbow. The manufacturer could hardly keep up with the orders and Richard’s business sored. He continued to invest his earnings back into the business by expanding, hiring and training more employees, and improving the designs of the bows.
What can we learn from the success of TenPoint Crossbow Technologies?
- Enrich your passion with experience. Richard lived for archery but he also worked for his father’s business and later for another specialty retailer. This level of experience trained him, not only to know and love the product, but it also made him an ingenious businessman.
- Accept that it will take a lot of patience. Don’t expect to profit from your new endeavor immediately because you won’t. What you can expect is a lot of trial and error; especially in the beginning. But don’t give up. With practice and consistency you will continue achieving results. Nearly twenty years passed from the time Richard purchased his family business to when TenPoint became what it is today.
- Embrace the knowledge of others. The idea of a mentor or a co-founder might scare you a bit. After all, your business is your baby and you want to decide how you will raise it. However, having a second opinion doesn’t mean giving up your right to have the final say. Instead, he or she will give you additional insight and skills. Your growing company will be more balanced and thus flourish. Right from the start, Richard worked alongside the manufacturers and his investors; both of which contributed to how the company evolved over time. As hard as you work, you can’t and won’t want to do it all on your own.
As you can see, there is no need to continue in an occupation that you’re unhappy with. Take your interest or hobby to the next level and turn it into a career. Join that happy 13% by investing in something you already love doing.