Is passion and business compatible?
You have passion. You have drive. You have an idea to combine your passion and drive into an enterprise. Hey I’m an entrepreneur, I reckon people will love this because I think it is great. Because people will love it , I can make a living doing what I love. Yea! It’s all good.
So you go to your accountant or a business manager and dazzle them with your enthusiasm. They coldly tell you to drop the idea, it has very little viability to generate enough cash to live on and you haven’t even got a proper business plan (as you turn your pad of messy scribbles over).
There goes my self-esteem. But do we listen to them? Do we let them determine the future of our passion? Why is their perspective so different to mine? Good question 99. They look at it as potential income generation only – the business side. It’s important but not the only factor. Businesses they know and understand may fit their criteria but aren’t always successful. Ever experienced bad customer service from a business owner who doesn’t have people skills? ‘Proper’ business plans are no guarantee of success.
Being an entrepreneur requires many things and passion is paramount. Passion vs profit is not an either or scenario. You can certainly blend the two as many people do. A bit of knowledge, idea generation (looking at things differently), connections and wisdom can certainly overcome initial scepticism of financial gurus. In many ways it is about looking at different ways of doing things that will get your passion to be profitable. For example, reaching out to your ‘ideal client’ more broadly, in different ways, with new allied products, or expanding geographically.
In other words, to keep your passion alive you need to have many strategies, be flexible and adaptive – are the consistent messages. Having a one-way road is not a great plan to success – sometimes it works but not often. With a variety of strategies that evolve as you do, you can go from business stress to passion proud and not passion poor. You still need some kind of plan though – just maybe not the pre-requisite traditional version.