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Balance Between Helping People and Making Money

Name: Balance Between Helping People and Making Money
Uploaded: 2024-09-02T14:00:34+00:00
Duration: 47 s
Channel: Shanli Liu, CPA, CTP
Description: In this spoken segment, the speaker discusses the challenge entrepreneurs face in balancing the desire to help others with the pressure to monetize every…

2 Sept 2024 · 1 min

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0:47

In this spoken segment, the speaker discusses the challenge entrepreneurs face in balancing the desire to help others with the pressure to monetize every aspect of their work. They critique the common "follow your passion" mantra, noting that as a business grows—illustrated through their own experience opening a fitness gym—the day-to-day responsibilities shift toward administrative tasks like payroll, rent, and marketing, which can disconnect the founder from their original passion. The speaker advises that to keep one's personal passion alive, entrepreneurs should find ways to satisfy that passion without letting it interfere with the core business operations, thereby maintaining both impact and financial sustainability.

Chapters

How do you balance between helping people and not focusing on money? The big thing that I think entrepreneurs in general, like, we all do this, is we think we need to monetize everything. If you want to help a million people, sure, then you can help a million people with the content you make, and then you can monetize through the elite. This is why I'm not, I'm not a big, like, follow your passion thing guy, because I started being really into fitness, and then I started a gym, and then I did well with my gym and then realized that nothing in my day had anything to do with fitness. And I'm doing pay, you know, payroll, rent, marketing. And so unless you want to be a personal trainer, unless you want to do hairstyling, that's like the true passion, then eventually you're going to get out of it. And so if you want to keep that cup filled, you just find a way that you can still scratch that itch in a way that doesn't disturb the business.