Snake Rock has recorded a number-one single and played alongside
legendary bands at some of the hottest venues in the country, but
the 46-year-old musician never imagined that his passion for rock
'n' roll would become a lucrative business. "I always
thought I would work all day and play clubs at night," says
Rock. "I never imagined that my passion would become my
full-time job."
Entrepreneurs around the country are ditching the idea that
hobbies are just leisure pursuits, opting instead to turn their
passions into thriving businesses. "There is a wonderful trend
that has [entrepreneurs] starting businesses that add meaning to
their lives," says Nancy Anderson, a Larkspur,
California-based career counselor and author of Work With Passion. "People are letting
go of the belief that it is impossible to make money and also do
what you love."
Rock eventually grew tired of working as a construction
supervisor, and playing gigs in local clubs began to lose its
appeal. He was convinced that playing with his band was the only
way to feed his passion-until his wife and band manager, Karen,
suggested an alternative. "Karen encouraged me to start giving
music lessons so I could turn my love of music into a career,"
he says. "At first, I was a little intimidated by teaching,
and I was worried that no one would sign up [for
lessons]."
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Fear of failure is common among almost all business owners, but
Anderson believes that entrepreneurs who are passionate about their
businesses are much more likely to be successful. "Working
with passion is about more than just making money; it is about
being fulfilled by your work."
Lay the Groundwork
Dawna Stone spent months researching the viability of a magazine
for active women before launching Her Sports in 2004. In
addition to holding focus groups to assess reader demand, Stone
spoke with advertisers to gauge their interest and sought advice
from people with experience in the publishing industry.
"I am so passionate about participating in sports and being
active, and I wanted to take that passion to the next level and
turn it into a business," says Stone, who used a combination
of savings and loans from family and friends to start Her Sports.
"[But] I did a lot of research to make sure it would
work."
The risk paid off. Her Sports published its debut issue in March
2004, and the magazine has grown steadily over the past year.
Sales, which reached $300,000 in 2004, are expected to more than
double to $800,000 in 2005.
To ensure they were ready to open their own business, Snake and
Karen Rock decided to offer music lessons on a part-time basis from
their home studio in 2002. "Snake was teaching in the evenings
and on the weekends, and it got to the point where we couldn't
take on any more students," Karen, 49, recalls. "We had
to make the decision to [keep] our regular jobs or take the leap
and turn it into something bigger."
Before they started S&K Music last fall, the Rocks developed
a business plan and spent a significant amount of time assessing
the likelihood that their business would be successful. The couple
evaluated the competition, talked to prospective customers and
asked students for feedback about similar businesses. Based on this
research, they created the plan for S&K Music, a full-service
instructional facility offering music lessons, instruments, sheet
music and a recording studio. Additionally, the couple chose a
location in an up-and-coming area of Las Vegas where there was
little competition. "In Las Vegas, the market is somewhat
untapped," Snake says. "We did a lot of research and
decided to take the plunge."
"A lot of would-be entrepreneurs have a passion but lack
the courage to follow it through to a business," says Theresa
M. Szczurek, a Boulder, Colorado-based technology and management
consultant and author of Pursuit of Passionate Purpose. "There
will always be people who want to rain on your parade and tell you
all the reasons you can't do something. If you want to turn
your passion into a successful business, you have to have
self-confidence."
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