Free image courtesy of FreeDigitalPhotos.net
Listen to ChrisGuillebeau in an interview with Business on Main:
“Business
on Main:
What is the first and most important thing that people can do if they’re
thinking about leaving a day job to pursue a passion full time?
Chris Guillebeau: Focus
on how that passion is going to help other people. Focus on usefulness. Don’t
think about innovation so much, but think about how you can serve people and
really bring value to the world.”
In his book Rich Dad Poor Dad, Robert Kiyosaki was having a conversation with his rich dad:
Rich
Dad:
“…when it comes to money, most people want to play it safe and feel secure. So
passion does not direct them. Fear does.”
Kiyosaki:
“So is that why they’ll take a job with low par?”
What is your passion? Have
you thought of turning it into a viable business? Are you currently being
dominated by fear?
Today, I want to give you
tips on how you can follow your passion and start a profitable business.
3
Tips on How to Turn Passion into a Profitable Business
Free image courtesy of FreeDigitalPhotos.net
1. Decide if you are truly passionate
Starting a small business requires determination, motivation, and skills. You must be
willing to work for longer hours until your small business stands on its feet.
Sometime
back, Hao Zhao, associate professor
of management and entrepreneurship at Rensselaer Polytechnic Institute, was
quoted saying that entrepreneurship is not for everyone.
I don’t
care what he says because I believe entrepreneurship is for you. I see that
urge in you, just act on it.
2. Know your market well
Passion
alone won’t bring you considerable business success. You must carefully study
the market in which you are venturing. This way, you will find out what
customers want and then provide a product or service that will satisfy their
needs. Knowing your competitors will help you come up with strategies that will
help you gain competitive advantage and a chunk of market share.
3. Ask for support from family and friend
"Encouragement from
trusted family members and friends will help you build entrepreneurial
self-efficacy-Zhao"
Family
and friends can analyze what kind of a person you are. Moreover, they can give
you tips on how to become a better you. They can identify your strengths that
can help you kill your weaknesses. Hence, you will be able to grab business
opportunities that come your way.
Friends
can also be your initial customers and can go to extra miles to advertise or
recommend your product (s).
Before I hit the sacks, I
want to ask you a question? Are you ready to turn your passion into millions? The
sooner you get an answer, the better.
Please share this with your
buddies by clicking the buttons below. Together we can make this a better place
for all small business owners.
