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Following Your Passion to Sacks of $$?
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Lizden
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PostPosted: Tue May 06, 2008 4:32 am    Post subject: Following Your Passion to Sacks of $$? Reply with quote

Hey All!

I just found this post online dealing with the age-old question of whether following your passion will actually bring you financial success.

Personally, I spent too many years doing what I didn't enjoy, so to me it's a no brainer "Do what you love & the $$ will follow" but I thought it was a really interesting post.

Enjoy!

Follow Your Passion? The Blogger Roundup
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Lizden
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PostPosted: Tue May 06, 2008 4:40 am    Post subject: Re: Following Your Passion to Sacks of $$? Reply with quote

Below is actually the first post this guy did on the subject

Will Financial Success Follow You if You Do What You Love?

L.
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jrodriguez315
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PostPosted: Tue May 06, 2008 8:11 am    Post subject: Reply with quote

Very cool articles. I myself am stuck in the 7th level of corporate hell until such time as my passion starts producing enough income for me to make my escape. I envy all you full-time vo peeps.
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BenWils
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PostPosted: Tue May 06, 2008 8:50 am    Post subject: Reply with quote

Not to comment on what anyone here has said thus far....but some thoughts..just my opinions and mental sorting after reading the posted link relating to VO and people wanting to go fulltime (piggy backing what Joe said so very well):

I am believer in following dreams and passions. However, having a job these days that pays well is a blessing. We live in a great country full of opportunity and abundance for those that work hard. Taking what we have for granted and thinking that other people have it much better than us is often a mirage. More money...more debt usually. People in this country tend to always live a little above their means. How about you?

Two: Making it in this VO business is not as easy as some people that are still in the full time corporate or blue collar world may think. I know that I work a lot more than the 40 hours I used to when in the corporate world. (Breaks at these boards are equal to getting up and going to the water cooler for us work-alone VO types). I traded a 12x12 padded wall environment in the corporate world (cubicle) for a 4x4 even more padded walled environment (VO booth) several years ago. But, I had worked a plan and prepared and had a lot of luck working in the mortgage business during the boom. (BTW, don't blame me for the crisis, I NEVER put anyone in a bad loan...EVER. Just wouldn't do it) But, back to the topic at hand, let the biz and the demand for what you are selling dictate when you should follow your passion. Your passion may not be your true calling or what you are best at. Giving up stability for passion is not always the best route. For some it is...but remember 90% to 95% don't make it. Seriously. Perhaps they earn a few thousand in a year....maybe even a few hundred. There are too many people that decided to follow their passion and it is not working out...so they sell themselves really cheap. You have to be sure....really sure you have something special. Don't let your passion be your life's unravelling.

I play hoops and I love the game. I can shoot well and move around pretty decent for an out of shape 32 year old. Should I try out for the Lakers? What about semi-pro ball...maybe I could make it there....maybe Craigslist will have some opportunities for me and then I can build on....you know...play hoops for $75 a week on a traveling team and see if the NBA notices me.

Okay....I'm done....mostly. I just hate seeing these things that make people in the corporate world want to go and tell their boss where to stick it and think once they do, the VO world will breathe a sigh of relief now that they are available 24/7. It doesn't work that way. This is a sales job....if you don't make sales....you twiddle your thumbs and hope something finds you. Good luck with that strategy. Market and sell yourself while you have the job. If your day job then gets in the way of servicing your VO clients and you can no longer do both with excellence. Then think hard about following your passion into a VO career.

Okay, soap box removed. The point.....be really sure. Passion makes the world go around. But don't put passion above personal responsibility (ie a family...kids etc).

Just my opinions and thoughts here. Thanks for the thought provoking post, Liz.
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Lizden
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PostPosted: Tue May 06, 2008 9:06 am    Post subject: Reply with quote

BenWils wrote:
Thanks for the thought provoking post, Liz.


That's what it's all about, Ben!

Believe me, I totally understand about not jumping in before you're ready...but then again, I got laid off/pushed! Rolls Eyes

But that said, I had prepared myself before hand - somewhat - and just decided that this was the time to just go forward and follow my VO passion.

But THAT said, I made NO $$ my first year out! Savings & a supportive DH were essential. And yes, I did go & work for a production company for a few months to shore up the $$ situation.

But THAT said, I did make $$ the second year out and now into my 3rd year full-time, things are quite grand considering the time I've been at it full-time. (No comparison to Bob Souer or Banksey, I'm sure, but I'll gettin' there! Wink I too am putting in way more that 40 hrs a week working my VO biz. I just don't think that sustaining a business, and all the work that that entails, is possible without loving what you do.

Scratch that...it IS possible to make money, but your quality of life will probably be diminished, which in my mind is all a part of success.

We all make sacrifices (Donovan started a thread about that a while back!) but what someone sees a a sacrifice, to me is just a choice I make to move forward doing what I love. It's all perspective.

L.
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Last edited by Lizden on Tue May 06, 2008 9:33 am; edited 1 time in total
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Deirdre
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PostPosted: Tue May 06, 2008 9:27 am    Post subject: Reply with quote

Ben wrote:
This is a sales job.


Boy howdy, that hits the nail right on the head.
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Lizden
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PostPosted: Tue May 06, 2008 9:31 am    Post subject: Reply with quote

Oh Yeah!

L.
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Jeffrey Kafer
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PostPosted: Tue May 06, 2008 11:25 am    Post subject: Reply with quote

Lizden wrote:
Savings & a supportive DH were essential.

And this brings up a good point: How many talent are truly "full-time" in the sense that their VO work is the main earner, or even the sole earner?

Not to disparage anyone, but going "full-time" into VO is much easier if you have spouse with a 9-5 job with benefits and stock options to back you up.
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Lizden
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PostPosted: Tue May 06, 2008 11:43 am    Post subject: Reply with quote

Quote:
Not to disparage anyone, but going "full-time" into VO is much easier if you have spouse with a 9-5 job with benefits and stock options to back you up.


With all due respect, Jeff....
My husband is self employed as well, so the 9-5 hours, benefits & stock options that you speak of do not apply.
We are a 2 entrepreneur family.

Whenever you start a business there is usually an adjustment period where one partner picks up the slack while the other one is building his/her business.

I did it 15 years ago when my husband was starting his solo-practice & I was working for the Radio Station and then the recording studio.
3 years ago, it was my turn to strike out on my own.
I was lucky that we had planned ahead, put money aside (& I had 6 months of unemployment coming in).

I make no apologies.
That's what a partnership/marriage is, no?

If you live in NJ you need two people working.
I thrilled/happy/blessed to be at the point now where I AM back to paying my full portion of the bills.

I think the problem really arises when someone starts a business - whether it be VO or any other venture - and expects to start making money right away...the proverbial "overnight success."

It IS doable, you just have to keep at it & plan...and in order to put in the hours that running a business requires, you do need to love it.

L.
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CarynClark
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PostPosted: Tue May 06, 2008 11:50 am    Post subject: Reply with quote

Good thread here.

Excellent post Ben.

You guys know I quit my corporate job in July to go "full time" in vo. So, here we are, 10 months later... do I regret it?

Hell no.

I don't care if I have to eat ramen noodles 5 times a week, shop only one time a year for new clothes and never get a pedicure again. Quitting my job and starting my own business was one of the best things I've ever done. I'm more relaxed, admittedly more tolerable (I was really getting to be a little be-otch due to all the stress), as well much much less frustrated and stressed. In general, I think I'm really just a better person all around.

Could I have done this if I weren't married? Yes, but I would have had to get a second job, for sure. However, right now, my run rate for income is 3 times what it was last year, so this year should be ok. Certainly no where near what I was making at my corporate job though. I'm very fortunate to have the support of my husband.

However, I think it's important to note, we're both self-employed. No stock options, insurance, 401k, and the like. He's 100% commission. And he deals with the stock market. So, obviously, there is the potential for fluctuation in his income.

Is it a lot of work? Yup. And really, things haven't gone as I had hoped as far as contract deals, etc. that I had hoped to count on. It IS A LOT more work than I anticipated, for sure. And yes, it's the sales job I've always wanted.

I think it's also important to note, I have a lot of support and guidance from great people like yourselves, as well as one very successful vo. I really owe alot of where I am thus far to that woman. Without her guidance, support, and true faith in my abilities, I'd be up a creek.

Edited to also add: Liz and I posted at the same time! Smile
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Deirdre
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PostPosted: Tue May 06, 2008 12:03 pm    Post subject: Reply with quote

Dieter and I are the quintessential tag-team cobblers.

DeWitt teaches at art schools, but rarely at one that pays a wage, takes withholding, etc. The art "colleges" around here are set up with virtually no staff— all the teachers are contractors.
I have my CBS/WBZ job which is the spiffy, keeps-me-in-the-union job, but everything else is an ongoing patchwork.
Because of the vagaries of the overall marketplace, we are getting more income from my work in the last couple of years, but DeWitt's painting sales kept up in hot dogs and macaroni and cheese for years.
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Jeffrey Kafer
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PostPosted: Tue May 06, 2008 12:05 pm    Post subject: Reply with quote

As I said, I wasn't knocking anyone. Just trying to encourage discussion on the ease of transition from full-time worker bee to full-time VO when you have a financial support system behind you.

Me? I'm the sole provider of money. My wife is a stay at home mom with 2 kids. She has a difficult and thankless job and we wouldn't have it any other way. But it DOES make it that much more difficult to go full-time (assuming my skillz are ready, which they are not).
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Lizden
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PostPosted: Tue May 06, 2008 12:16 pm    Post subject: Reply with quote

Jeff, I get it.
You may want to talk to Bob Souer for some tips.
He & his wife have been on the same route as you for the past....how many years, Bob?....

I forgot to have kids, so I guess I won't have have that expense to worry about.... Wink

L.
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Yoda117
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PostPosted: Tue May 06, 2008 12:21 pm    Post subject: Reply with quote

Lizden wrote:

I forgot to have kids, so I guess I won't have have that expense to worry about.... Wink

L.


Rent them out to neighbors... they need to earn their keep too.

/Darwinism at it's finest Smile
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Rob Ellis
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PostPosted: Tue May 06, 2008 12:46 pm    Post subject: Reply with quote

Wow,

Now here is a subject that never has quite left my inner debater since starting this venture two years ago.....yeah, I'll admit it has been tougher in some ways than I anticipated, but no regrets here!

My wife is a corporate star so that has helped immensely and made it possible, but also getting laid off from my corporate job helped too.

I recently invested in a Whisper Room and will be getting ISDN soon which are both reminders that the financial investment is not insignificant when you reach the point of feeling that it is time to take the next step.

I know from selling real estate that it takes several years to get things rolling in most entreprenurial/self-employment ventures. And in radio, it took several years before landing gigs at (what I considered) "big-time" radio stations.
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