Steven Kalas is a family counselor with a lively practice. He also plays in a band that’s been busy promoting their new CD, but I know Kalas for a different reason: he writes Human Matters, my favorite column in the Las Vegas Review Journal.
Like many people with multiple interests, he’s found ways to incorporate his diverse interests into satisfying ways of making a living.
Of all the ideas in Making a Living Without a Job, none has ever gotten a stronger response than the notion of incorporating eclectic interests into a unique livelihood.
Many people have felt stifled trying to fit themselves into the Single Occupation mold. There’s often a visible sense of relief when I suggest that it’s possible to create a business from diverse passions.
There’s a practical side to the MPC notion, as well: multiple income sources can level out cash flow. No business, no matter how large or small, is immune from the ups and downs of income.
To everything there is a season, including cash flow.
Here are a few more things to keep in mind when planning your potfolio of profit centers.
° They don’t have to all be the same size in order to be valid. Some profit centers will be occasional, some will peak and then decline, some will be major income sources.
° Under one umbrella or separate identities? If your profit centers are completely unrelated (eclectic rather than clustered), you will probably need to have individual identities for them.
You don’t want to confuse your market by clustering things that don’t go together.
° If it matters to you, it belongs in your portfolio. If your interests are diverse, you may decide that some ideas aren’t serious enough to turn into a profit center.
More likely, your apprehension comes from the old belief that if it’s fun and pleasurable, it should remain a hobby.
Nobody tackles this issue better than Steven Pressfield who writes in The War of Art about turning pro. He says, “The conventional interpretation is that the amateur pursues his calling out of love, while the pro does it for money. Not the way I see it. In my view, the amateur does not love the game enough. If he did, he would not pursue it as a sideline, distinct from his ‘real’ vocation.”
° Differing activities can boost creativity. In the name of efficiency, we’ve turned many of the workers of this world into robot-like machines who show up in the same place at the same time to do the same things day in and day out.
The capacity to think creatively is the first casualty of that system.
Creativity thrives on variety and setting up your profit centers to give you a wide range of experiences is ultimately as good for your imagination as it is for your bank account.
° Take inventory on a regular basis. Many profit centers require a lot of time and attention at their launch, but become somewhat self-sufficient after that.
It makes sense to review the various projects you’re working on and align your attention with what each one needs.
Sometimes a profit center becomes a noisy child and takes you away from the others.
At other times, you’ll find you’ve grown bored with an idea and it’s time to consider a different future for it.
Every 90 days or so, do a review and make changes where necessary.
° Be wary of multitasking. One way to stay focused, is to assign different days of the week to different projects. When you’re throwing pots, you aren’t writing your pottery seminar, for instance.
° It’s evolution, not instant creation. Profit centers evolve over a long period of time. Ideas morph, new ones show up, old ones have served their time.
The important thing is to create a business that engages your talents and imagination, and pays you to do what you love doing most. As Paul Hawken reminds us, “The business you can succeed with is distinctly and utterly you and yours. It is unlike any other business in the world.”
You have your MPCs to thank for that!