Passion while important in business, is not the first factor an entrepreneur should consider when deciding on what to do to generate income.
As discussed in previous episodes which you can find the links below, it is vital that entrepreneurs focus on businesses where they are solving a problem, and where there is sufficient market demand.
- Episode 145: How To Determine Market Demand For Your Product
- Episode 142: What Does Your Customer Want To Buy
It is as equally important to know whether or not someone is passionate about their business. Have you ever been to a store to buy a product or service and met someone who completely loved what they do? It shows in everything they do. Compare this to someone who has the look of misery and gives the impression they really don’t want to be there. Which would you want to do business with?
Sometimes to follow our passions involves leaving our comfort zones. Many entrepreneurs stick with what they know and build businesses there even though they are miserable in the process. This is a direct result of having a high need for certainty.
To embrace what you are passionate about, it will mean embracing uncertainty. Even though we are passionate about something, the necessity to generate income from it changes the dynamic.
This is why it’s vital to carefully consider what you want to pursue in business, as there are many ventures full of fun and excitement while it is a hobby. However, once it becomes a necessity to generate an income from it, it might no longer be enjoyable.
To know for certain if following a passion makes sense for you, it all comes down to asking yourself a single question. “If I were to be paid for doing this day after day, would I be just as excited about this 5 years from now as I am today?”