The importance of passion to startup success
if you are starting a business it is important that you are passionate about it. Starting a business is not easy, and you will likely run into issues during the process. Your passion helps you get out of bed in the morning – providing the motivation to keep going despite the setbacks.
Common sources of founder passion
Ability to imagine a better (or different) world
One reason for being passionate about your business is that you can imagine a better world. Having a vision for what the future will look like can contribute to your passion – and starting your business contributes to achieving this goal for the future
Solving a problem that you faced
Another component that can increase your passion is that it helps solve a problem that you have faced yourself. You may be passionate about your firm because it allows you to avoid this problem yourself, and help others achieve their goals.
Helping others achieve their goals
Many startups are formed with the specific goal of helping others out. It could be helping others out in the community or more environmentally conscious products – if you are passionate about the goal that you are achieving, then you are more likely to maintain your commitment to it.
Sense of satisfaction on achieving your target
Another contributor to startup passion is the satisfaction associated with reaching your target. Having a goal and attaining it can be rewarding, and working to achieve your goal for your startup can be a big motivator for getting out of bed each morning to work towards it.
Reasons to think beyond money
While money is often a key reason why founders get into business, this is not always the best reason alone for getting into business. Starting your own business is often not an easy way of making money. Money is unlikely to be the only thing that causes you to continue your commitment into the future. Passion may also help get others on board with your project – if you do not sound genuinely excited by the opportunity itself, you may have a hard time getting support from others.
Thus, while money may be a component of the reason for starting a firm – and it is important to bear in mind how your business will generate a profit – having a cause beyond financial returns that helps justify your continued effort can go a long way in helping maintain your enthusiasm for your business.