The following is an update of one of my favorite posts from last year. Timely, and I hope inspirational!
What’s so special about January 8th? (Hint: It’s not Hump Day. And “It’s Now or Never!”)
It’s Elvis Presley’s birthday! The King of Rock-N-Roll would have celebrated his 81st birthday tomorrow if a combination of bad genetics, poor health, and substance abuse hadn’t taken him out at the early age of 42 in 1977.
As I checked out the Elvis film marathon on Turner Classic Movies (Viva Las Vegas! And Jailhouse Rock – two of my favorites!), I was reminded that Elvis was an excellent example of Profiting from Your Passions.
So what does Elvis have to do with what I tell my clients about achieving their dreams?
- Elvis knew he wanted to make music for a living from an early age.
- While he toiled in the music business to make a name for himself, he held what Barbara Sher calls a “Good-Enough Job.” In other words, he worked in menial jobs as a laborer or truck driver to pay his bills while he pursued his music career.
- Despite a lot of rejection early on, Elvis persisted despite the negativity and kept following his dream. After one audition, the band’s manager advised him to “stick to truck driving because you’ll never make it as a singer.” But he never gave up!
And Elvis’ ex-wife, Priscilla Beaulieu Presley, also provides a good lesson for aspiring self-bossers.
Though Elvis was a great artist, he didn’t have much of a talent for managing money. Between bad financial advice, extravagant living, his legendary generosity to others, and the drain on his income from unscrupulous associates, he wasn’t nearly as secure financially as you’d think. In fact, though Elvis had earned over a billion dollars from concerts, record sales, films, merchandise, and licensing, his estate was worth only $10 million at the time of his death.
Fortunately, it turned out that Priscilla was a pretty savvy businesswoman. She took Elvis Presley Enterprises and turned the moribund business into a $60 million a year cash cow. How did she accomplish that?
She acted on the principles of the Profiting from Your Passions Formula by taking stock of what she had to offer, who wanted what she had, and turned her ideas into actions. Of course, Priscilla’s greatest asset was Elvis’ huge fan base, his music catalog, and his films, and she was tireless and exceptionally creative in finding new opportunities to leverage his legend to create many lucrative income streams.
So in honor of Elvis on his birthday, think about where would like your dreams to take you, take a Good-Enough Job if necessary, and never give up. Then think about Priscilla and how she took something she had that other people wanted and turned it into a money machine.
In the words of Elvis Himselvis (sorry, I couldn’t help myselvis), “Thankyou. Thankyouverramush.”