May
12
Do What you Love and Money Will Follow?
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I found this interesting post on Soul in the Sky - John Kwarsick Blog:
Mark Albion, Author of the book “Making a Life, Making a Living” cites a study by Srully Blotnick:
“A study of business school graduates tracked the careers of 1,500 people from 1960 to 1980. From the beginning, the graduates were grouped into two categories. Category A consisted of people who said they wanted to make money first so they could do what they really wanted to do later after they took care of their financial concerns. Those in category B pursued their interests first, sure that the money eventually would follow.
What percentage fell into each category? Of the 1,500 graduates in the survey, the money-now category A’s comprised 83 percent or 1,245 people. Category B risk takers made up 17 percent, 255 graduates.
After 20 years, there were 101 millionaires in the group. Only one came from category A, 100 from category B.
Some food for thought…..
Technorati Tags: Career, Passion, Leadership, Success, Research, Finance, Happiness
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14 Responses to “Do What you Love and Money Will Follow?”
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Nice one. I enjoy reading this stuff. Check out my book review at wwww.izzonline.blogspot.com
The book is The Greatness Guide, Robin Sharma.
You might enjoy reading the book itself too.
Well, I fall into catagory B. My businesses are doing things that I love doing, which is setting up a business, getting in the right people to run it… And then sit back and manage from a distance. I suppose I love the systems, and love setting them up.
An excellent reminder! As Peter Senge says, “Personal mastery is likened to be a lifelong journey with no ultimate destination” and “People hold a sacred view of work because work is now valued for itself, rather than posing a chore that needs to be done as a means to some other end.”
If you have ownership in work, you put more energy in to work and you ultimately do positive things towards achieving personal vision instead of company visions. The best is of course when they are they same!
This is great stuff. Just in case we needed another reason to follow our bliss!
[...] Found at John Kwarsick Blog via George Ambler Blog [...]
I have to say that your comments are so true. If we are patient enough then we can achieve greatness, but we succumb to fear so often.
Do What you Love and Money Will Follow…
“A study of business school graduates tracked the careers of 1,500 people from 1960 to 1980. From the beginning, the graduates were grouped into two categories. Category A consisted of people who said they wanted to make money first so they could do …
[...] Do What you Love and Money Will Follow. A study of business school graduates tracked the careers of 1,500 people from 1960 to 1980. From the beginning, the graduates were grouped into two categories. Category A consisted of people who said they wanted to make money first so they could do what they really wanted to do later after they took care of their financial concerns. Those in category B pursued their interests first, sure that the money eventually would follow. After 20 years, there were 101 millionaires in the group. Only one came from category A, 100 from category B. [...]
I’m kind of dubious at the “case study.”
I admire the sentiment, but I can’t help feel that it’s up there with the “Goal setting at Yale! study” (which Yale claim never happened.)
I have to agree with Mark Harrison’s opinion. First, 20 years of business school graduates should provide way more than 1500 subjects. That’s only 75 students a year, a pretty small number to draw conclusions from. And what business school is this?
The fact that the study is quoted from a third-party is a giant red flag for any serious student or reader. Harley Hahn disputes this study in his review at http://www.harley.com/reading/reviews.html
I can think of many professions where individuals “love” their work, but they will never be millionaires, at least financially. They include teachers, nurses, policemen, and firemen, and military personnel. No matter how you frame it, these individuals likely will not grow rich financially. However, if you change the title to “Do What You Love and the Rewards Will Follow,” I would have no problems accepting that.
I firmly disbelieve the “Do what you love…” statement. There’s a huge difference between what you find interesting and what you love.
In the last chapter of my book, The 7 Things I Wish I Knew Before I Graduated, I talk about find your passion and not your job. Therefore, it is not surprising to see that out of the group who desired to be rich only one was.
I believe Solomon said it best, “Those who seek after silver will never be satisfied with silver.”
Money is a fleeting vaper that is appealing at first but can soon vanish.
The fact is we need money to operate but when it is our aim we loose focus of our true goals and happiness continually evades our reality.
Justin Driscoll
http://www.justindriscoll.net/blog
[...] What You Love Written by Uncle Joe on January 13, 2008 – 7:12 am An article from The Practice of Leadership suggesting that you have a better chance of getting rich when you follow your passions. [...]
I agree on do what you find interesting/do not mind doing, and, the money will follow. Words like do what you “love”, and, have a “passion” for are waaaay overused. I love to travel and chase women, but, if I made that a business I would’nt be as happy. Having to “think” about what to write in my travels and exploits is too business like. There is a reason business is business and pleasure is pleasure. Do something enjoyable and lucrative is my motto, until I hit the lotto,lol.