Entrepreneurship is all about Passion
Business | November 15, 2019
I have had the privilege of working with renowned entrepreneurs and observing them from close quarters. Being a successful Entrepreneur is not an easy job. It takes a lot of courage, discomforts and passion of doing something on his own. What is Entrepreneurship? Truth be told, this word is being buzzed so much throughout the industry that we seem to have forgotten the essence of this word.
The dictionary defines the word entrepreneurship as an activity that involves conceptualizing, setting up and conducting a business taking financial risks, with the hope of earning profits. There you go, there is no word in this definition that might give anyone the impression that entrepreneurship is an easy task. And yet, it is the most preferred profession in this age.
What drives someone to pursue their own interests? A passion to prove the feasibility of the idea. A smart entrepreneur isn’t passionate about the product or the idea, but passionate about building a business around it.
Why do you need passion for that? Aren’t the smarts and the diplomas enough? Good question. Entrepreneurship is a tough task; no matter what you have studied in the classrooms, it is a whole different story to step out, get your hands dirty and figure it out on your own. Your experiences will always be different from your classroom lessons. And this can come as a shock to many beginners. Entrepreneurship comes with a lot of hard work, a possible string of failures and a fair amount of stress – reasons tempting enough to give up on the venture.
This is where passion comes into the picture. If you believe in the feasibility of your business, you are less likely to give up after a failure. When you are passionate about a venture, you will seek unlikely sources for solutions to your entrepreneurial problems. With passion for your business comes patience and perseverance, and these make the three Ps of Entrepreneurship.
- Patience: success does not come overnight
- Persistence: learn from mistakes and push forward as a smarter person
- Passion: keep going regardless of the stress
Yes, passion drives an entrepreneur. But it is a highly potent emotion, which if misused or misguided, can also cause the venture to fail spectacularly.
How do you ensure that your passion is really your driving force?
- Know that you can be successful only if your passion is coupled with hard work. Being passionate about the venture is not enough; you must show up for the meetings, make the calls, meet the deadlines.
- Look beneath the success stories. For every successful entrepreneur, there are ten others who were not successful. Don’t study only the success stories, but also learn from the one who didn’t make it.
- Don’t forget your loved ones. There is no reason good enough to abandon your family – the ones who stand by you through thick and thin – to seek a unicorn and sate your passion.
- Always remember your business purpose. If your passion makes the customers pay for it and drives you to give them value for theirs, then you are on the right path.
Passion is what drives an entrepreneur, but only when it is targeted towards the right purpose. Misguided passion that stems from obsession and self-centeredness can only cause failure, resulting in tremendous personal losses for the aspiring entrepreneur.