Advertising
Advertising

Pick Your Job Based On What You Love To Do, Not How Much You Have Invested In.

Pick Your Job Based On What You Love To Do, Not How Much You Have Invested In.

Have you ever continued to pursue something even though it no longer served you? Maybe it’s a degree program or the dead-end job that you refuse to give up. Perhaps you’ve stayed in a relationship for no other reason than the fact that you’ve been committed to it for so long. From time to time, we all justify staying the course by considering the effort we’ve put into our current situation.

Many of us decide to take a job just because it’s a good use of our training. When we invest time and money in getting a degree, we expect that we should use it. Maybe you hate your job, but you can only envision yourself taking similar positions with equal or greater pay and responsibility. You may feel trapped by the decisions you made before, but you don’t have to be.

Whatever you do, do it because you love it.

    Photo credit: Source

    Advertising

    When you are trying to figure out how to decide on a career, it is easy to be influenced by the types of work and training you’ve already undertaken. In general, you get a degree or training in a field that interests you, and this leads you to a job in that field.

    If you should ever decide to leave your job, there’s a high probability that you will look for work in the same field with similar pay and responsibilities. You are less likely to consider whether you still like the work that you do — you feel obligated to continue your career trajectory regardless of how you feel.

    This is how people get stuck doing jobs that they don’t like. Instead of thinking about what would make you the best and happiest version of yourself, you may face temptation to maintain the status quo. Many of us do this because we fear wasting our efforts.[1]

    Others feel that their persistence will eventually be valued, and changing course doesn’t fit well within the story they are creating about themselves or their business.[2] They may willingly take on sunk costs with the belief that their situation will improve.

    Advertising

    Don’t get sucked in by sunk costs.

      Photo credit: Source

      The sunk cost fallacy is the assumption that you must continue follow a trajectory because you have already put lots of resources into that particular career path or personal endeavor. We can be so loss-averse that we avoid the possibility of greater gains through changing our approach.[3]

      If you are wondering how to decide on a career, and you take a job solely because it makes use of your years of training, then you might be worrying more about sunk costs than your future happiness and success. Refusing to leave a career that is unfulfilling could be a sign that you are caught in the job investment trap, which is a variation of the sunk cost fallacy.[4]

      Advertising

      Businesses also fall into this pattern of continuing down a failing path just because they already put time and money into initiatives. For example, an entrepreneur might take out a loan to open a second business location. They reason that since business is booming at Location #1, success in Location #2 should be a cinch.

      After about a year, the owner realizes that Location #2 is hemorrhaging money, and the only way to stop the bleeding is to scale back to one store. The numbers don’t lie, but despite the irrefutable evidence, the owner may still have trouble cutting his or her losses. The business owner thinks about the effort, time, and emotion that went into Location #2.

      From an outsider’s perspective, it is easy to see that the business owner in the example or the person stuck in an uninspiring career should try something new. It is harder to let go of sunk costs when we are faced with them ourselves.

      You aren’t a one-trick pony.

      Just because you took a particular course of study in school doesn’t mean that you are bound to that discipline for the rest of your life. When you are figuring out how to decide on a career, ask yourself the following questions:

      Advertising

      • What are you interested in doing? If you are passionate about your work, then it won’t feel like a burden.
      • What skills do you need to do this job? We often think of our degree or primary training as our default career option, but the default may not be the best choice. If you need to change focus, what transferable skills do you have, and what additional training will you need to be successful?[5]
      • Is there room for growth in this job? Today, the average employee stays with a company for 4.2 years before moving on.[6] What types of skills can you build in your current work? How can you leverage your growth to position you for a fulfilling career?
      • Do you have opportunities to work with different people? Forming meaningful connections with people is one of the best things you can do for yourself professionally. You’ll not only be happier at work, but if you decide to change careers, you will already have a solid professional network. [7]
      • What can this job offer you in 3 years? Consider your expectations for income and authority-level in the next three years. Is this job going to give you what you want? If not, how will taking this position help you work toward your end goal?
      • Can this job help you to become the kind of person you want to be? Being inspired by the work that you do can brighten even the toughest days. Do you feel that your work is meaningful?[8] Does it bring you closer to being the optimal of yourself?

      Know when to hold and when to fold.

        Photo credit: Source

        You can’t recover sunk costs, but you don’t have to perpetuate a cycle of loss. “I’ve already put so much time into this,” isn’t a good enough justification to continue down a particular path.

        Deciding to change directions doesn’t meant that you have failed. It makes zero sense to continue to put resources into something that isn’t working for you. Although you may feel like you have wasted an experience or lost time, remember that you have probably learned some valuable information as you undertook the process. Just because it didn’t go the way you expected doesn’t mean that it’s a total loss.

        Being successful and following your dreams are not mutually exclusive. Use what you know to keep growing, and don’t be discouraged if you have to change course along the way.

        Reference

        More by this author

        Angelina Phebus

        Writer, Yoga Instructor (RYT 200)

        Foods That Can Suppress Appetite And Help With Weight Loss Quality or Quantity? Why Don’t You Sleep On It What it Feels Like To Be The Child of Your Children? Pick Your Job Based On What You Love To Do, Not How Much You Have Invested In. How to Become Successful 10 Times Easier: Don’t Focus on Improving Your Faults

        Trending in Work

        1 10 Key Characteristics of a Highly Successful Entrepreneur 2 Feel like Giving Up? 16 Way to Help Entrepreneurs Stay Motivated 3 How to Quit Your Job That You Hate and Start Doing What You Love 4 8 Things to Remember When You Don’t Know What to Do with Your Life 5 Why a Career Change at 50 Is a Great Opportunity & How to Make It Work

        Read Next

        Advertising
        Advertising

        Last Updated on October 18, 2018

        10 Key Characteristics of a Highly Successful Entrepreneur

        10 Key Characteristics of a Highly Successful Entrepreneur

        When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

        Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

        People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

        These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

        1. Successful Entrepreneurs Practice Discipline

        Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

        To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

        Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

        When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

        Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

        Advertising

        2. Successful Entrepreneurs Keep Calm

        Things go wrong when you run your own business.

        Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

        Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

        Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

        Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

        If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

        3. Successful Entrepreneurs Pay Attention to Details

        Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

        As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

        Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

        Advertising

        After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

        Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

        He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

        4. Successful Entrepreneurs Embrace Risks

        No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

        It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

        You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

        Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

        An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

        5. Successful Entrepreneurs are Balanced

        You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

        Advertising

        As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

        Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

        Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

        You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

        6. Successful Entrepreneurs are Passionate and Motivated

        In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

        Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

        • Commit to making short and long-term goals. Check in with them often to stay on task.
        • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
        • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

        By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

        7. Successful Entrepreneurs Adapt

        Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

        As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

        Advertising

        8. Successful Entrepreneurs are Marketing and Sales Experts

        No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

        Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

        9. Successful Entrepreneurs Have Strong Money Management

        Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

        If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

        10. Successful Entrepreneurs Ask Questions and Continually Improve

        Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

        Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

        If you are always improving, then how can you ultimately fail?

        The Bottom Line

        Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

        Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

        Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

        Featured photo credit: Unsplash via unsplash.com

        Reference

        Read Next