I am on a quest: to start my business from my passion. The problem though is, I am passionate about a lot of things. And, not every passion is really suitable for a business.
Common business advice for aspiring or early founders is to look at the market size, the niche, the desire of the customers. It mainly revolves around the product and the people that will buy it.
That are all external factors. And I think they are super important. But, before focusing on factors outside of you, I deeply believe we should focus on yourself first.
Before starting my business, I seek answers to fundamental questions
What do I want in life? Why do I want to start my own business?
What are my goals starting this business? How will my life look like if I build this business? How will my life look like once I have this established business? Is this what I want to do with my life?
I believe these questions should come first. Having solid answers to those questions is the foundation of your business. It will also help to make sure you can keep up and keep going even if things get tricky. And most likely, starting a business will not be a smooth sail.
Start a business around things I am genuinely excited about
Six months into my entrepreneurial journey I can relate more than ever to that advise. It is just so hard to keep on working on something if, (surprise, surprise) your business isn’t an overnight success.
I am looking to build a business around something I care so deeply, that I also work on it if I am not making money. That does not mean that making money isn’t a goal.
That’s far from the truth. Otherwise, I would just look for a hobby. I do work on building a business. But a business that is true to the value of my life.
I do not want to exchange my time for money. And that means that the time that I invest in my business must actually count towards my goal of having the best life I can possibly live. So, my goal is to make money from what I love to do.
Earning your living from what truly makes me happy is a win for the customer
I believe building a business around your true values and your purpose in life gives you a tremendous competitive advantage. You have more stamina to work towards your goal, and you are the right person to deliver that.
People will feel your authenticity.
And they see right through if it is not. People that are in need of a product/service you offer, know that you are the right person to deliver it.
And I am taking here from long-term effects. Not short-time scam artists.
So, a business I love to do. Love to do? Okay, I love yoga. Should I become a yoga guru?
Is my destiny to be a yoga guru?
So, one of my passions is to do yoga. I really like the way it moves my body. The combination of strength, flexibility, and calmness of the mind I achieve through it. It is definitely one of my passion. And I practice yoga now for 15 years. Wouldn’t that be a good business?
Well, thinking about it a bit further, I am not carved out to be a yoga teacher. I love to focus on myself during yoga. If I am a yoga teacher, my practice would look different. I would need to talk the whole time. I would need to correct and help people with their practice. And playing through this scenario, it soon is clear, that’s not my business.
Similarly, I once wanted to be a pilot. I still love flying. But, do you know how life looks like for a pilot? Never being in one place. Constantly all over the world. At least for me, this is not what I strive for.
But falling for the passion business is a common mistake. I made a small YouTube video for you, where I share a story of a guy that started a book club in his backyard. And because this turned out to be super successful, and super fulfilling for him, he started a coffee where all his philosophical friends could come and enjoy discussions. So, he also started a business out of his passion. Bad idea! But watch for yourself.
Being passionate isn’t enough
Well, having a passion for something isn’t enough. You have to really understand whether you have a hobby passion or a business passion. Because building a business around your passion can look completely different than you imagined it.
How will my life look like?
Understanding how your life will look like building and running this business is super important. What does it take to make it work? What does it take to run it? Is that what you want to do with your time?
For me, this is one of the reasons why (right now), I cannot imagine to be employed or to start a consultancy. There is just not enough flexibility in both of these options. That might change, once my kids are a bit older. But right now, I need a business that is super flexible.
I imagine a life where I live wherever I want, work whenever I want and on what I truly desire. And you know what? I am actually living that dream already. Now, I (just 😉 )have to make sure it is sustainable, aka figure out how to make enough money from what I do…
How about you? What are your answers to those fundamental questions? Do you have already answers to them?
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