You’ve heard this cute advice a hundred times: Do what you love and the money will follow. If you love what you do, it doesn’t feel like work. But what if you have no idea what your passion is?
It’s time you find out.
It’s time to live your passion.
In real estate, there’s a concept called “highest and best use” (HABU).
Properties are valued based on the best use of the land that will
produce the highest value. For example, appraisers may value a
two-bedroom house on a busy street next to retail shops as if a strip
mall occupied the land, because the best use of the property that
produces the highest value is a strip mall and not a house. In other
words, other two-bedroom houses in the town might be worth $200,000, but
an investor may pay $600,000 just for the land in order to build a
strip-mall.
When you use the other 8 hours to create,
you must focus on your HABU — your unique talents, skills, and
experience that produce the most value. The dead weight that so many
people drag around with them is their feeling of unfulfillment at work.
Part of the reason for this lethargy is that most people feel
underutilized and don’t have the flexibility to do what they do best. We
get boxed into positions and job descriptions that we can do
adequately, but usually don’t tap into our core strengths.
This is why creating during the other 8
hours is so much fun. You create your own job description. You are your
own boss and you can focus on what it is you enjoy the most and do the
best. You might not be performing at HABU during your working hours, but
in order to maximize your chance for success during the other 8 hours, you need to focus on projects that use your best and most unique talents. Duh, right? I wish it were so obvious.
Over and over and over again, I see people
starting businesses and getting engaged in projects that are so
completely outside of their best use. They focus exclusively on what
will provide them the “highest” value-that is, those projects that look
like they’ll make them the most money — but they don’t first consider
what their personal “best use” is. I’ve seen guys who can’t set the time
on their VCR (I guess I’m dating myself) try to start technology
companies. I’ve seen others who can’t balance their checkbook try to
start finance companies. I’ve seen somebody try to launch a video game
application who had no gaming experience (and in fact, didn’t even like
games).
And guess what? All those ventures failed.
Why? You have to be passionate about what you’re doing or you’ll give up
after the first setback. The more you love what you do the more you
will persevere. Also, when you capitalize on your unique qualities and
gifts, you’re making it easier on yourself. If you start something
you’re halfway into or that doesn’t capture your talents, you’re making
it much harder to succeed.
Exercise: How to Discover Your Passion
So what’s your highest and best use? Here’s a
simple exercise you can do that will help you pinpoint where you should
focus. Make three lists. On the first list, write down all of the
things you are good at — everything that you do well and that you have
mastery over. On the next list, write down everything you enjoy —
hobbies, special interests, games, TV shows, etc. Finally, list
everything that gives you a sense of meaning and purpose. Now for the
magic . . . find common elements across all three lists. That’s when
you’ve discovered your HABU. That’s what you should focus on in the
other 8 hours.
Don’t go for the “sexy” ones just because
you think they’ll be the most exciting or have the most potential. Focus
on those that feel right for you — those that mesh well with your
skills, interests, and greater purpose.
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