It used to be thought that you can’t run a successful business without experience and a solid background in whatever you intend to do. However there’s another school of thought which states ‘if you do something you truly love or are extremely passionate about, then the money will follow’.
As inspiring as this sounds, it does beg the question…Couldn’t you be doing something you love, but still end up broke doing it?
Well the answer is… yes you could.
Any business, in particular a start-up business, is a gamble but if your business idea is one that can potentially make money, then having an innate passion for what you do will make the difference between success and failure.
Here are three reasons why:
1. Passion and desire bring out the best in you
In recent research, studies have shown that as a start-up business heading into the unknown, desire and passion are just as important, and in some cases more so, than knowledge and background.
The reason for this is that when the going gets tough (and it will), passion and desire have a tendency to make you far more creative and far more resourceful, which as a result will help to carry you through the tough times and on to where you need to be.
Alternatively, if you don’t have the passion for what you do, you’re more likely to throw in the towel as soon as you encounter any of the numerous obstacles you’ll face. This is in spite of any professional background you might have. In instances such as these, chasing the pot of money at the end of the rainbow just might not be a strong enough motivator.
2. Knowledge can be taught
Whilst it’s clear that as a business start-up you’re going to need some form of basic grounding in what you do, you don’t necessarily have to have a business background to succeed. Business knowledge can be taught and in addition, learned through experience.
If you take Richard Branson as an example; when he started his record mail order business back in 1970 from (of all places) the crypt of the local church, he had no business background apart from running a student magazine. Clearly he lacked the experience or the knowledge to be the multi-national company owner and all-round business magnate that he is now, but the point is that he got there!
Whilst he was learning to build his business, it wasn’t his experience and background in business that saw him through. Instead it was his unwavering self-belief and passion. Clearly the knowledge and experience came later over time as he grew with his many business ventures.
3. Experience can be bought
Just as knowledge about how to grow your business can be taught and learned, contrary to the myth that ‘you can’t buy experience’, the reality is that you can! By employing the key personnel in the right areas of your business, you can put in place a wealth of experience and background knowledge that you may never gain on your own in a lifetime of working.
However although you need a strong and experienced team around you, it’s highly unlikely that they’ll share the same level of desire and passion for your business as you, and therefore it’s this passion and desire which should undoubtedly be the main driver. It’s a great motivator, it gets you up in the morning, keeps you focused and ready to face the challenges ahead.
Whilst having a business knowledge and background are all something that you as an entrepreneur can pick up along the way, passion is something that you need right from the very start.
It’s the seed that sparks your business idea; that motivates you; that carries you through the tough times and above everything else, it cannot be taught or learned. Instead it simply has to come from within.
And when it comes from within, it will never end to be there if your passion, your heart is behind your ventures – no matter if you want to run a marathon or a successful business.