The $100 Startup

Most people dream of making a living from something they’re passionate about, such as traveling to exotic countries. But there’s a catch: unless someone is actually willing to pay for it, your passion “business” is just a hobby.

The true recipe for success is to find the sweet spot where your passions, your skills and the needs of others meet. But where do you start?

The most important part of any business is providing value to customers. Therefore you must focus relentlessly on how you can help other people.

Usually this means that you can’t turn your passion directly into a business but must work in an adjacent field where you help others follow that same passion. For example, one enthusiastic traveler, Gary Leff, started a microbusiness using his expertise to book the best possible trips for others with their bonus air miles, which many people struggle to find good use for.

But what if you lack the skills to pursue the business of your choice? Enter skill transformation. Though you may not have the specific skills needed to pursue an opportunity, you may have related ones. You use these as best as you can and pick up the rest as you go, thus transforming your skillset.

Kat Alder, for example, was a waitress in London with great people skills. She eventually went on to start her own public relations company, and though she had no experience in the field, her people skills helped her as she learned the basics of the business.

Not every passion can become a business. No matter how much you enjoy eating pizza, you can’t start a business out of it. But you may be able to start a pizzeria. With such opportunities, think hard about how you can provide value to people and what skills you have at your disposal.

Passion is not enough for business success; you also need customers and the right skills.