Recently, i was asked on a chat with a close colleague in my industry from the US. What Baton to take and run with when looking at starting a business?
Is it –
Passion for the business idea
The profitability side of the business idea.
“Can the one work without the other to run a successful business”? Not that I know – I retorted.
You need the two legs to be balanced in order to start and get your business running.
One is not mutually exclusive of the other.
Passion gets you going when times are tough – and times will be real tough.
Profit on the other side sustains the business when its time to expand, its the life blood(cashflow) of the business or else it will die before it ever start to grow.
Don’t just have passion for just about anything but for :
1. Solving a market problem
2. People are willing to pay for.
This two things will stop you from going into business.
Starting a business with little to no money is possible with this in mind. Money will not stop you from starting a business if your are financially intelligent. But you will need it to grow your business.
The right mindset when going into business is not to think of how much money you could make in the long run, but how many people you can help solve their problem.
Extra – ordinary businesses are built that way.
The more impact you make, the more influential you become and the more affluent you get.
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