The No. 1 worst career advice billionaires give, says bestselling author: Anyone who says it is 'already rich'

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Rick Kern | Getty Images Entertainment | Getty ImagesBillionaires tend to give one bad piece of career advice, according to self-made millionaire and bestselling author Scott Galloway: your passion. "The worst advice the billionaires give is ' your passion,'" Galloway, a serial entrepreneur and New York University marketing fessor, told LinkedIn's "The Path" series in an episode that published on June 3

Nevertheless, Conversely, "Anyone who tells you to your passion is already rich (something worth watching), in this volatile climate. "Born in Los Angeles to a single mother, Galloway said that his family's income never exceeded $40,000 during his childhood, and that he thought his passion for athletics would bring him financial freedom

After discovering that fessional sports weren't in his future, he graduated from UCLA and got an analyst job at Morgan Stanley

He quickly realized, 'I don't have the skills for this," he said

He started to workshop different ideas and decided that he'd be better suited for entrepreneurship than as an employee at a big company, in today's market environment

Meanwhile, In 1992, he co-founded marketing firm phet, ultimately selling it in 2002 for $33 million, according to LinkedIn

Galloway later co-founded a re firm called L2 in 2010, which was acquired in 2017 for a reported sum of more than $130 million

His career journey indicates that success isn't blindly ing passion or going into a field that's stereotypically lucrative

Instead, combine what you're good at with what can make you money, and embrace opportunities to pivot. "I applied for 29 jobs [after graduation]

I got one offer," said Galloway, in light of current trends

Additionally, "The key to my success is rejection, or specifically my ability to endure it

Because if you don't get to 'no' a lot of times, you're never going to get to wonderful 'yeses. '"Galloway's sentiment echoes similar s from Mastercard CEO Michael Miebach, who often tells young people to look beyond what their passionate when choosing a career

He realized early in his career that he had a knack for leadership and enjoyed helping others, leading to a slew of board member roles at companies IBM and The Metropolitan Opera, and almost 16 years at Mastercard. "I love the fact that you're ing your passion, but you should also just look at what are you really good at

What differentiates you (noteworthy indeed)

Meanwhile, " Miebach tells interns, he said in a recent interview with LinkedIn editor-in-chief Daniel Roth, in this volatile climate

Furthermore, "Figure out, where's the intersection point of what is your passion, what actually matters, and what could you be good at

However, Bring that together

Meanwhile, "Finding your strengths doesn't happen overnight and can take a bit of refining, and even failure

However, Say you're a news ducer who recently got laid off, so you started filming and editing documentaries to stay active

Now, you've learned that your strength is actually longform content and storytelling, not hard news and short packages

You can turn difficult setbacks into learning opportunities by adopting a growth mindset, or the idea that you can always be refining your skills, according to Yale University psychologist and happiness expert Laurie Santos, in light of current trends

Additionally, "That allows us to learn more how to do better in the future," said Santos

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