Are you getting tired of the 9-5 daily grind? Have you made the decision to ditch the cubicle life, and start your own business? Before you outfit your home office and place an order for business cards, make sure you know exactly what it is you want to do. Just because other people have made a profit in a niche industry doesn’t make it an instant success for you. So what does make a lasting, income-generating business? Something you believe in from the ground floor, and wouldn’t walk away from even if you had the option.
Entrepreneurs have it rough. Research says, 67% fail in their first year of business, and of the remaining 33%, only 5% make it into their third year. Why do so few independent businesses survive? The answer is tied directly to how passionate you are about your business. If you’re willing to work hard, persevere, and take the leap into entrepreneurship, be sure that you’re offering something that only you can provide. Need more reasons to follow that latent desire to open a gourmet dog food company? Wondering if your vision of creating the next mobile hit application is the right path for you? Read on to find out the top 5 reasons to build something you believe in, and get ready to find success as an entrepreneur!
- Investors Will Find You More Attractive
Nothing is a faster sell to an investor than someone with passion, confidence, and a solid idea to back it up. Why? Not only is your excitement contagious, but you will be determined to persevere. To an investor, this is a sure sign that you’re willing to do the hard work to get your business off of the ground and into the green. Smart investors know that when you follow your vision, you create a niche industry that only you can fulfill. Similar businesses may pop up, but yours will stand apart as something genuine.
- Your Passion Will Overcome Your Fear of Failure
Entrepreneurs are (rightfully) obsessed with failure. Not just failure as an abstract concept, either. How their peers have stumbled into it, how to avoid it, and if it’s possible to rebuild afterward are the subjects they never get tired of. Many startups fold before they can find their feet, because of this fear. If your business is centered in something you believe in, failure will not be an option for you. While you may hit stumbling blocks along the way, walking away is not an option. You’ll continue to explore different avenues until something takes off completely. And if you’ve come up with an exit strategy, re-evaluate what it is that you think you want to do. Make sure that what you’re doing is truly your obsession, and you won’t be paralyzed by fear.
- You Will Have the Motivation to Persevere
You’ve heard Confucius’ saying before: “Choose a job you love, and you will never have to work a day in your life.” Starting a business can be daunting at times, and even the best entrepreneurs second-guess themselves. The solution? Start with something you love, and build your business around it. This ensures that all of your hard work is meaningful to you. Days where you didn’t make the sale, your internet was down, and you had to record the details of sixteen calls by hand are still frustrating. But you wake up the next morning, and you keep going. Why? Because the world needs your product, your service, your next great idea. And you know that nothing else will fulfill you like sinking back into your business.
- Clients Will Appreciate Your Integrity
People know when they’re being asked to buy. Unless they approach you with a specific intent to buy, customers will search for the most reputable source for what they desire. People aren’t buying your product—they’re buying the reason you’re offering it. If you believe in your business and what you have to offer, your honesty shines through as you build your brand. You’re not going to attempt to sell a one-size-fits-all solution to buyers. You’ll take the time to show customers while their lives will be easier, richer, and more fulfilling with what you have to offer. With options being thrust at consumers from every angle, a brand that is genuine will stand apart from the rest. Your enthusiasm will be contagious, and your business will continue to grow.
- You’re Ensuring Long-Term Success
You know that your goal is long-term success, and that having a growing business is essential for this. What is the fastest way to lose a client? Sell them something below their expectations. This will not be a problem for you. When you create something you believe in, you’ll not only love what you do, but also won’t allow yourself to produce work that is less than perfect. This can be tricky in the early stages of entrepreneurship, as perfectionism can trip you up if you’re not careful. Start by setting a clear goal for your business. Spend some time creating a mission statement around this goal. Make sure that it reflects who you are, and what will set you apart. This is often where quick, high-profit ideas that seem to work for everyone else will fall flat for you. Every entrepreneur seeks success, but if you’re chasing after a high dollar amount and not your own unique vision, very soon your days will feel overwhelmed by work once again. Once your business gets its legs, your product is sure to please buyers, and your passion for your work will drive you to continue to improve. This ensures client satisfaction, and a continued cycle of success and improvement.
Do you have other reasons why connecting with your passion leads to success? Have you ever built something you believe in? How has this affected your life as an entrepreneur? Share in the comments below!
About the Author
This article is written by Soham Amatya, a writer, a blogger and an internet marketer. see more.