Overcoming today competition in the world of globalization is far beyond how expertise we might be in a chosen field, or how vast our knowledge is in our line of business. As days passes by, the competitive market or setting is getting more fierce which requires something far better than just expertise to survive, it requires a force that propels growth and development, it requires PASSION.
Have you given it a thought if your business turn sour, what next will your line of action be, well the truth is the market is competitive in it very nature trying to weed out the weaker firms which is typically found in a perfect competitive market, the only thing that keeps you going ahead a step further will not be your knowledge of the downturns in market but your passion. In an interview with The New York Times , Wealth-X founder David Leppan discussed what made a serial entrepreneur successful. He said , “Passion is the secret ingredient. There are a lot of people with ideas, but you have to have the drive.”
To stop beating around the bush, Money and connection can make you start a business, what keeps you going in hard times is the passion. Never make your business depends on the market gains or profit but rather passion. When profit is out of sight, passion will keep you going even at a break-even.
Passion is the engine behind every successful business, passion was what made Bill Gate the richest man on this planet, Passion is what makes Mark Zuckerberg dropout of school to pursue what he believes in and today it has landed him on the Forbes list of the 5th richest man on the planet with about $58billion net worth. Richard Branson pursued his passion at age 16 to become the founder of the Virgin group and a world billionaire.
HOW TO TURN YOUR PASSION INTO BUSINESS
1. UNDERSTANDING YOUR PERSONALITY
Many people today don't understand who they are, what they want and what they want to be, they live a life of paying heed to noises and dancing to the tone of the crowd, but understanding oneself comes with the ability of isolating One's mind to the inner peace of existence, which helps in defining who you are and what you want to be.
There is a point when one need to stay away from the crowd and be able to identify what he wants and desire from what people demand of him. As an entrepreneur, you must first know yourself and your worth before you can be able to influence people to Love the product and services you offer. Understanding your personality goes a long way in building your customer relationship loyalty and understanding what they want and how you can meet those wants.
2. IDENTIFYING YOUR PASSION
Larry Page has a passion of providing information to people, so out of that passion comes Google which becomes the biggest search engine today, Jeff Bezos the founder of Amazon started this online store out of passion from his garage, that passion made him one of the biggest Internet entrepreneur. The most successful individuals that ever live on earth followed their passion, and this was what makes them persevere the period of business downturns as business comes with it ups and downs.
After understanding your personality, it then follows identifying what you find fun or happy doing. Bill Gate the founder of Microsoft identify computer programming as a passion while at a tender age he sneaks out of the class to the computer labs just to see what he can made out of it.
YOU CAN'T SUCCEED WITHOUT TURNING YOUR BUSINESS INTO A PASSION OR TURNING YOUR PASSION INTO A BUSINESS. Therefore, examine yourself to identify what you love doing or what you are passionate about.
3. DOES YOUR PASSION FILL A VOID
Everyone does have a passion for one thing or the other, It is obvious that not every passion can be a business idea, For you to be able to turn your passion into a business, first you must consider if the passion will fill a void or wants and needs of the market.
No one will be willing to buy your product/service unless it fills a void or it is an advancement of the traditional way to carrying out an activity. All I am saying in a nutshell is your passion should be marketable.
4. MARKET ANALYSIS/SURVEY
It will be a jeopardy for one to venture into a business without analysing the market conditions, whether they are favourable to his passion or not. You can identify if your product/service is of economic value by various means of research such such questionnaire, interview, and surveys of various kind. If by any chance your passion which has being transformed into a business idea is not economically viable, then there is no need to push ahead.
You can start this by asking your colleagues at work, family members and friends how they feel about the idea and never make a mistake of venturing into the business without proper market analysis.
5. BRANDING YOUR PASSION
Haven identify what you are passionate about, it is time to brand it into what you want people to perceived it as. According to Al Ries, the Father of Branding, “a successful branding program is based on the concept of singularity. It creates in the mind of the prospect the perception that there is no product on the market quite like your product.”
Don't forget that you must have an excellent business plan which forms an integral part of the branding, incase you are not an expert you can contract the Service of professionals(Richminers Blog) to help you with it. Branding comes with creating a picture of your potential customers, and determining what will attract their attention to your product/service. You have to create a picture of what your customers desire and then brand it into something unique that tells them this is what is right for me.
Your passion must be transformed into something that can attract market attention. This has to do with designing a logo for your business, a web site and a constant public attention by creating a constant online presence.
6. CREATING PUBLIC AWARENESS
This can be done by spending on Ads on popular blogs, radio and television stations and even word of mouth advertisement. Don't forget to create a facebook page, twitter, instagram and other social networks account for your products/services.
After creating public awareness, you must have a contact info with fast responses both online and offline.
Now that you are done knowing how you can spearhead a passion into business, you must act fast. Never wait for the perfect time because time waits for no man.
Let's get your comment to know how we can serve you better. Thank you and have a wonderful day.
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