Transform Your Passion Into A Successful Business
- Substantial's been telling stories since early 2012. Here's one from the archives.
Starting your own business is like jumping on an emotional rollercoaster with the highest of highs and lowest of lows — all the while, wondering if the ride will come to a screeching halt. Anyone can start a business but it’s infinitely harder to grow and sustain it. When a company faces challenges and falls on hard times (and it always does), it’s your passion and commitment that ultimately get the business through to the other side. If you don’t have a true passion for your business, everyone can sense it: your customers, team, advisors and investors. Below are three steps to help transform your passion into a successful business:
Do you know enough? If not, start asking. You have a passion and want to start a business! Do you know enough about the industry? With industry background and know-how, you’ll be ahead of the curve and can hit the ground running — producing products, building a customer base and forging your company vision.
Don’t be discouraged, if you have a great idea, but aren’t familiar enough with the field to get started, use your network, speak with people who’ve started businesses in your industry to help you get up to speed quickly. This is like building an informal advisory board of people who’ve gone through a journey similar to the one you’re embarking upon.
Jump in! There’s really no better way to start than diving in head-first. In the beginning, you may not have your exact plan mapped out, and you’ll likely make significant changes to your model. But the benefit of starting a business around a passion is that you know why you’re doing it and can more easily overcome barriers that come up along the way. It’s this deep-rooted drive and enthusiasm that will keep you motivated and engaged with the product you’re selling.
Surround yourself with others who share your vision.
Because you can expect long work hours and hard days in the beginning, personal drive and shared similar values with your colleagues will see you through this time. This enthusiasm translates to a positive customer experience. And that’s what will build your business.
Turning your passion into a successful business not only allows you to be profitable while doing something you love, it helps set you up for lasting success. Most importantly, passion is central to making decisions that are in the long-term interest of the customer and the company, which will help you establish sustainability and longevity for your brand.