There are more than 700 WeWorks across the globe and almost every one of them seem to have the same phrase emblazoned in their coffee-shop chic lobbies: Do What You Love.
It’s a phrase that inspires the warm-fuzzies of self actualization as you head to your $500 rented desk to work on a speculative app with no user base. You’re exactly where you’re supposed to be doing exactly what fulfills you.
Or are you?
Every time people ask what I do and I respond with “animator”, they tell me how cool that is. And you know what, some days and certain projects it is pretty cool.
But other days it’s clear that it’s labor, and not one of love. When I was in art school, did I aspire to art direct the lens flares ever so perfectly on a product shot? Did I really dream of making my designs “less feminine” for a corporate client? Is my inner passion to animate the same logo 50 different ways until we hit the goldilocks version (but make it 20% bigger, please)?
And pump the breaks if you think that more control over your work is the solution.
During my career, I’ve seen countless studio owners fall into this trap. They confuse running a business with working in it. They assign themselves at the creative helm, hoping to find both personal fulfillment and business success.
“If your business depends on you, you don’t own a business—you have a job. And it’s the worst job in the world because you’re working for a lunatic!”
― Michael E. Gerber, The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
Like all other creatives, they get contentment from designing the perfect style frame, pulling those motion curves to be just snappy enough, and kerning those letters to precisely the correct distance.
As their business starts to grow, they keep themselves entrenched in the day to day projects. They fail to forecast into the future and develop sustainability. Instead of building business systems and a team that enable them to work less, they work insane hours to push their unique creative vision forward.
“Most businesses are operated according to what the owner wants as opposed to what the business needs.”
― MICHAEL E. GERBER, THE E-MYTH REVISITED: WHY MOST SMALL BUSINESSES DON’T WORK AND WHAT TO DO ABOUT IT
While I’m sure it’s great for your ego, it doesn’t always work out that way financially. I’ve been in my industry for 12 years, and can think of dozens of previous successes that are now extinct. (Anybody remember the time capsule that is the Motion Design Directory?)
Even the studios that find financial success close up shop or are acquired. Often, the owners cash out to settle into a cushy staff job at Google. Just this year, Gunner was acquired by Duolingo and Giant Ant joined Buck.
“Love what you do and you’ll never work a day in our life.” I get the meaning, but it’s not true without financial independence. When you need to work for survival, you can’t afford to climb to the peak of Maslow’s Hierarchy of Needs.
It’s a relationship imbalance where the need for money outweighs your love and passion.
Over the past year I’ve been learning things that don’t spark any Kondo-esque joy. Discovering that employed income is so much less tax efficient than investment income. Learning about real estate depreciation and cap rates. Becoming educated on the limits of every type of retirement account.
Financial literacy can be incredibly dry and uninspiring.
But I’m starting to realize that these are the tools that help you buy back your time. With enough money invested, you can work on whatever strikes your fancy, sans client input. You can experiment with other disciplines, unfettered by profitability. Hell, you could even finally direct that short film.
And maybe then you can truly claim that you do what you love.
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