The Question we find being asked by so many people is does it really take more than just passion to succeed in business?
For sure passion will boost your business pitch which in turn will make you more confident in pitching your product / service.
And yes passion will give you confidence to trust your business instincts.
Passion is a great motivation for business growth , the rumour in the early days of Facebook were 20 hr work days were the norm , today Facebook is the largest social network sight and its founder is Mark Zuckerberg is a billionaire . passion , dedication, and investing in the growth will always payoff.
Passion can and will inspire others as long as they buy into what you are selling and have a passion / love for the product too.
Passion will give you an edge over the competitors because you think of the passion before the profit. Ultimately you are driven by a force more powerful than profit making.
In the early days at Apple they faced competition from IBM but Steve Jobs stayed true to his passion and belief and delivered a PC that is more than a product . Today Apple is more valuable as a company ; IBM stopped its computer business.
Some people think that once your product has launched then it easy but this is when you need good business savvy and sometimes your passion for the product can get in the way.
Numbers are everything yes, you went into business because of your passion BUT being in business is more than just following ; to suceed and turn your passion into something greater than a hobby or an interest you have to be smart. know your Costs , Labour and Margins.
Never lose money , adapted from Warren Entrepreneurs they often take great risks to make things work. Yes risks are necessary at the beginning , you might need to take a loan or leave a perfectly good job in hopes of making it . No matter where you are at in the process of building your business you should always be taking calculated risks.
Business owners who are just starting off often are too close minded to see everything around them " If you build it the will come " is often the attitude passionate business owners take after all. After all you've put a lot of money, energy and passion into making a great product or business Right?, Who wouldn't want to do business with you?
Don't wait for perfection Entrepreneurs tend to be obsessed with perfection , if we're following a passion it only makes sense that you want to do everything perfect , However I've learned that waiting for perfection can often end up disappointing you. Imagine if Apple had waited for a perfect version of the IPhone we'd still be waiting.
So in reality we can safely say that passion is a great start to get your business / service up and running and pitching to buyers but after that you need to stop look at it like its your new born child and start acting responsible and business clever to get the most out of it i.e. good profit and a bases to expand .