MF 050.1 : How to Balance Passion with Priority: an Important Lesson on Minimum Viable Income, with
Moving Forward kicks off its 50th episode celebration with Tim Paige. Tim is the Conversion Educator at LeadPages™, podcaster, webinar expert and a very busy voiceover actor / artist. As host of the top ranked podcast, ConversionCast, Tim has spoken with the leading marketers and entrepreneurs today. In addition, Tim is a devoted father and husband. In today’s episode, you will find out why following your passion “to the end of the earth” does not always translate into your best career choice and can sometimes lead to passion “burn out.” You will also learn why blindly “following the money” is not a desirable alternative. Through his journey, Tim shares the secret to balancing your passion with priority: doing something that is meaningful to others without sacrificing your well being or sustainability. Find out how you can achieve a similar balance in your life and career as you consider your passions but also your priorities, as you move forward.
Successes at a glance:
Tim’s biggest success is his family.
As the Conversion Education at LeadPages™, Tim has found a career that he truly loves and an organization that sparks his interest every day; utilizing his skills in sales, marketing, webinars and more.
Tim is also a very talented and busy, working voiceover actor and artist; having voiced countless commercials, podcasts, cartoons and more.
Tim has launched a new service to help podcasters called the Podcast Conversion Blueprint.
How Tim gets inspired to conquer the day:
Tim candidly shares that he does not have a “magic” formula for this. In fact, when the alarm rings his first thought is a desire for more sleep. However, after a few minutes, Tim gets genuinely excited about starting the day by waking up his son because he always greets Tim with an infectious smile. From there, Tim knows that each day when he arrives at the office he is on a mission to do something he is really excited to do. Tim lives in the moment, putting his best self into every project and endeavor he commits to. When it comes down to it, Tim’s motivation is more about living a meaningful life than having a morning routine.
Setback or failure that led to pivot and shift:
Tim shares several key events that have greatly shaped his career and entrepreneurial journey. First, Tim played in a band and pursued music as a professional career. Eventually, pursuing his passion to the “end of the earth” led him to lose that passion, leading to his first pivot into a career that was about “following the money.” Tim pivoted to selling vacuums door-to-door, eventually leading to a 6-figure income. However, success in vacuum sales cost Tim valuable time with his wife and career burn-out; thus leading to a second pivot. Tim realized that neither extreme was sustainable for him and so, he decided to strike a middle ground with a concept called minimal viable income that all entrepreneurs must achieve. Simply put, this is the minimum amount of money you need to live (eat, pay the bills, etc.). Tim subscribed to this theory long before he heard it phrased as “minimal viable income” from friends like Chase Reeves (host of the The Fizzle Show) and Pat Flynn. As someone who is “scrappy,” Tim did everything from podcasting to freelance work for companies and individuals like Jaime Tardy. Despite this, Tim and his wife struggled through some tough times, including two failed businesses, near bankruptcy and severe anxiety. Tim credits these times with forcing him to make tough decisions in taking on certain business clients and saving aggressively. Moreover, Tim acknowledges that because of these experiences, he is able to persevere and “make it through anything.” Since then, Tim has learned what is really means to achieve minimum viable income and to have systems in place to cover as many unforeseen contingencies and situations as possible.
Resource or cultural experience that inspired Tim to move forward:
Start moving forward with two free audio books.
How Tim stays organized and manages his time:
Tim also uses a separate email account to remind himself of tasks that need to get done.
LeadPages™: Tim takes tremendous pride working for the company but also truly values what this resource can do for businesses and entrepreneurs alike (it’s one of our favorites too!). Tim was a LeadPages™ user long before working for the company.
Tim’s Advice for you to Move Forward:
To have a basic foundation for what problems you want to solve in the world. While it’s important to know what you want, at the end of the day, finding a fulfilling career or starting a business is about solving a real problem or answering a question that will benefit others. Tim also puts this important disclaimer: while it’s simple to say, it’s really hard to do because we are by nature, self-interested individuals. But if you can discipline yourself to commit to solving a real problem, that will guide your actions, to move forward.