© Photoxpress

Several people are not satisfied with their current jobs. Others did not like their previous positions. Likewise, several individuals in transition have the opportunity to determine what they really want to do moving forward.

It’s vital that you spend time identifying your passion since you do not want to get stuck earning a living in a job you do not like. You will also need time to commercialize your passion (as either an employer or employee) and enjoy the resulting benefits. Below is a four-step process you can utilize to earn a living doing what you love to do.

Identify Your Passion

Determine what motivates you to strive for success. Your significant other, family, and love ones may come to mind. Maybe early retirement, financial independence, and a “recession-proof” career are options. Next reminisce about the times you were very happy. Identify the drivers behind this excitement and the last time you were in such high spirits. Finally, figure out what caused you to exit this phase of joy during your life.

Next determine the things you love to do with your spare time, when you get home from work, on the weekends, and during your vacations. Are there any common activities that come to mind? Could you possibly turn these activities into a full-time career?

Download this episode (right click and save)

Conduct Research

You should now have a list of potential activities you would love to do while earning a good living simultaneously. Use the Internet, books, magazines, and other resources to learn if others have successfully commercialized similar passions into lucrative careers. If so, learn about their business models including their value propositions, targeted markets, customers, competitors, and industries. Determine if there is a niche with an unmet need you can meet or if you could enter an existing market and succeed. Next compile this information into a business plan template and set up meetings with your local SCORE and SBA counselors.

Once you meet with these counselors, run your ideas by them and acquire feedback. You also want to generate referrals to individuals (if any) who have careers involved with what you find fascinating. Next contact these individuals to learn about their experiences, challenges, and opportunities and how they got started and succeeded. Most importantly, ask them for the few things they would have done differently if they could start over again.

Run a Pilot

First test your passion before you confirm that this is what you will like to pursue as a full-time career. Participate in your job search during the day and work on your potential new career in the evenings and on the weekends. After a few months, determine if you are still passionate about this potential new career and still have the burning desire to persist. If so, continue to moonlight since you want to eventually become very good at what you do which can help you earn a good living.

Continue Your Search

Since it may take some time before you start earning good money from your business, continue to look for a job. Ideally you will want to find a job that is not too demanding and with a good work life balance. Likewise, you will have more time to focus on your part-time business.

Most importantly, you will build up cash reserves and diversify your income without jeopardizing your financial future. You will also have time to allow your future career to develop. Once your compensation from your future career consistently meets or exceeds the compensation at your job, you could quit. As a result, you will be able to work full-time in a career you are passionate about and earn a good living in the process.

If you have not done so, you should listen to Lisa Johnson Mandell’s “Repackage Yourself to Obtain the Job.”

You should also visit www.blogtalkradio.com/thecareercatalyst to download the previous episodes, sign up for a free BlogTalkRadio account, mark the Career Factory shows as a favorite, register for the upcoming episodes, and participate on a regular basis.

Repackage Yourself. | Download this episode (right click and save)

Remember to participate in Episode 28 “Escape from Corporate America by Creating a Career of Your Dreams,” Tuesday, January 12^th at 9PM EST with expert guest Pamela Skillings. Remember the wisdom of a crowd is richer than the wisdom of a few. So actively participate in the free online community at JobRadioUSA.com and encourage fellow job seekers to do the same.

• How to Successfully Conclude Your Job Search in 2010
• How to Supercharge Your Stalled Job Search
• How to Get a Job by Networking with Your Warm Contacts
  
• Tap into the Hidden Job Market via Cold Calls
• 4 Ways to Uncover Hidden Jobs
• 6 Step Process to Ace Any Job Interview
• The Characteristics of a Dynamic Resume
• The Four Components of a Dynamic Cover Letter
• How to Prepare for an Upcoming, Potential Layoff