When entrepreneurs are dragging their business through that difficult first year, one thing keeps them going: passion. It is the backbone of every great startup and the foundation of all successful businesses. It could be a passion for the product or service they provide. It could be a passion for the industry or business itself. It could simply be the passion of driving oneself as far as possible. The passion of sheer ambition.
Whatever the motivation, without passion your business will struggle to its death. Of course, a business cannot survive on passion alone. You must balance your budget and network extensively. You’ll need to use an ASIC search to track rival companies and do regular competitor analysis. You need a good team of business heads and you need a great product. But, most of all, you need passion. You need something to get you out of bed every morning.
Passion leads to confidence which leads to respect
As an entrepreneur, you are not just a businessman. You’re a leader. You’re responsible for inspiring the people around you. That includes your employees, customers and investors. Passion is one thing that strengthens the perception of confidence. When you speak passionately about a subject, it oozes confidence and power. That’s the key to garnering respect. When there is respect, people will jump through hoops for you. They’ll follow your lead and help you share the workload.
Passion is infectious
Showing off your passion will get great results from the people around you. That fire inside of you is infectious and people will react to it. They key to passion is looking beyond the everyday chores. It’s working to create something bigger and better. It’s projecting a vision of the future that everyone can rally around. When you talk about this bigger picture with excitement, it will inspire those around you.
Passion will secure investment
When investors comes knocking, they aren’t just looking for a great product. A good idea alone is not enough. They are looking at the business owner and the team around it. They’re looking to see that the company is moving forward and looking to the future. When you pitch passionately, investors will buy into your vision and excitement. Remember, they are investing in you just as much as your business. You need to sell them the dream, not the product.
Passion will get you through the dark times
Getting a business off the ground is no easy feat. There are difficult days and dark times. There are peaks and troughs in business. During the troughs, when money is desperate and interest is gone, you’ll want to pack it in. The only thing that will drive you here is passion. The belief that what you’re doing is important. It will keep you motivated and driving forward. All good businesses have been here and turned things around.
Passion isn’t something you can learn. It is one of the few business qualities you must find within yourself. Before you begin your project, think about whether you have the belief. That’s the first, and only, important question to ask yourself. It will take you further than you can imagine.
Thanks to FLEE for the image