“Do what you love, and you’ll never work a day in your life,” or so the saying goes, but there’s no one-size-fits-all blueprint for turning your passion into profit. Instead, investing in yourself and your ideas takes work, creativity, determination, and a willingness to risk in order to find that reward. Just ask Dr. Danielle Richardson, an optometrist and wellness professional who had a life-changing epiphany early in her medical career.
Richardson sat down with Cash Class host, accredited financial counselor, and personal finance expert Lissa Prudencio to share her journey from medical student to multihyphenate, and it all started thanks to a trip to Bali. In the latest episode of the series, Richardson shared how, after suffering multiple stress-related health issues, she set off for a Yoga retreat on the other side of the world, hoping to find a better work-life balance.
“I was super burned out,” she says of her post-graduation vacation. “While I was there, all of my stress-related illnesses cleared up. I was eating a healthy diet, I was walking a lot, and it really showed me the power of a holistic approach.”
When Richardson returned home those health issues quickly came back. She decided she needed to develop a more mindful approach to balancing her professional life as an optometrist with her passion for yoga, clean eating, and the healthy habits that had transformed her body and mind during her trip. That’s when her company Fierce Clarity was born. With a mission to help other busy professionals equip themselves with the tools to level up their work-life balance, Richardson’s small business began by organizing yoga retreats for individuals and large corporations looking to prioritize their mental well-being, but the COVID-19 pandemic forced her to rethink that business model.
“Obviously, we couldn’t offer retreats anymore, so we shifted to online yoga, corporate wellness workshops and classes, and activewear,” she explained. “It’s been a journey, but the biggest thing was being flexible and understanding that revenue streams can come from different places and to just double down on the ones that are working.”
While everyone’s side hustles look different, Prudencio zeroes in on some tried-and-true tips for starting your own small business no matter the industry. Clearly stating your goals, finding investment opportunities, consulting others in your same field, and dedicating the resources needed to manage your finances — and taxes — well are all key to succeeding in turning your passion into a thriving revenue source.
To hear more of Richardson’s story and for tips on how you can use your taxes to invest in your small business, check out the video above.
