Never Too Old to Get Rich

Part ITurning a Passion into a Business

Transforming a passion into paying work can do a number on your desire for it, so you need to plan ahead and test the waters with care.

Before you step out on this path, be clear about the role that this passion, or hobby, plays in your life right now. For many of us, the things that stir up the most passion – and we always wish we could just have more time to do them – are not anchored in the world of commerce. In fact, the time spent devoted to them is quite frankly our respite from our hectic working lives and family demands. It’s where we go to clear our minds and quiet anxiety.

Tapping into that well of renewal to produce an income can turn it upside down. I’m wildly passionate about horses, for example. I fantasize about what it would be like to truly devote all my time and energy to this world. When someone asks, “What would you do if you didn’t need the money?” I would say, spend my time riding and surround myself with horses and dogs.

But I know in my heart that a career training and working with horses would never be a good fit for me. It’s my special place to escape and breathe, far away from world of deadlines and travel, and yes, people. If the barn became my office, I would lose that enchanted world that has bewitched me since the age of six.

Another example is a friend of mine who is a talented gardener. She decided to open a landscape design business when she took an early retirement package from her law firm. But she ...