Although passion may play a part in doing what you love, developing a company takes more than just a strong interest in your work. You still have to think about hiring and firing employees, developing your customer base, handling accounting issues and more. It takes more than just passion to be successful as a business owner.
The Role of Passion in Your Small Business
Although passion may play a part in your small business, it should not be your only focus. Your company also needs to fill a market need and make money. For example, some small business owners distribute pipes, manufacture plastics or clean offices. Although the owners enjoy their work, they might not be passionate about it. The reason business owners do what they do is because there is a demand for their products/services. Small business owners derive passion from earning a living that provides for their families, employees and customers. They are passionate about contributing something the world needs and making a profit.
Personal Characteristics Necessary for Business Success
Successfully running a small business requires more than just passion. You need resiliency and a deeper purpose for what you do. Since you will have good days and tiring days, you need to control your inner thoughts and continue doing what you are doing. To keep expanding your business and increase revenue, you need curiosity and an appreciation for the opportunities that come your way.
Your Company’s Impact
The impact your company has should be at the core of your business. People want to know what clear and tangible benefits they will receive from your product/service. From the beginning, you should focus on filling a need or solving a problem. Making a difference will drive demand for your product/service and your company’s growth. Ensure you have a big enough vision for your organization’s impact and that it evolves over time. Both your product/service line and revenue will grow along with your impact on the community and the world.
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