Business Ownership Needs Passion

Passion_400-033115Have you heard this before? “Do what you love and you will never work a day in your life.” Or how about this? “ Find something you are passionate about and make it into a business.”

I find this to be common, but often incorrect advice. As I tell my seminar attendees every month, I love and am passionate about golf, I just can’t make any money at it. Given my skill set, I am not good enough to play on the tour or teach golf, but I do love the game and spend time playing it. I also know very successful business owners that own dry cleaners and maid service businesses. I doubt they are passionate about cleaning clothes or other people’s houses.

So if business owners are not necessarily passionate about the product or service they are selling, what are they passionate about? They are passionate about business ownership and the benefits that it can bring them; freedom, control, income, a flexible lifestyle, and a host of other things.

All of this isn’t to say you cannot make a business out of something you are passionate about. And, if you can, more power to you. It is the best of both worlds. Just remember, it is often the case that you will also become the CEO, CFO, and CMO of your business; truly a jack of all trades. In order to build a sustainable business model, owners often find themselves filing many roles, at the expanse of spending more time on the aspects of the business they are truly passionate about.
To look at this in more depth, I think this article by Gerri Detweiler https://www.allbusiness.com/entrepreneurs-spill-truth-starting-running-businesses-105262-1.html nicely explains what some entrepreneurs face when they build a business with a product or service they are passionate about.

So, if you are passionate about the prospects of running your own business, take the time to do the research and find a business that you think you will like, that matches your skill set and professional and personal goals and that can be built to provide good income, equity and that can be built to run without you having to work in it every day. The right business for you may not sell a product or service you are necessarily passionate about, but it may allow you to build a great business that ultimately gives you more time to spend on those things you truly ARE passionate about.

Now, that is something to get passionate about!

Mike Hall

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