Posts Tagged ‘Scratch’

Should You REALLY Follow Your Passion?

Wednesday, November 12th, 2008

There are two main schools of thought when it comes to whether or not you should build a business based on what you’re passionate about.

Some argue that if you pursue your passion the money will follow. Others say that you may not be able to build a sustainable or lucrative business based on your passion. You might be passionate about building things with toothpicks… but whether you can translate that into a business is another matter.

My view is this: just because you’re passionate about something doesn’t means you’ll be able to build a business around it.

HOWEVER you do need to be passionate about your business to be successful.

Depending on who you are, being passionate about the subject matter of your business may be optional. It’s not optional for me - I need to be passionate about what my business does in order to stay interested in it - but I’m well aware of successful business people who have nothing more than a passing interest in the products and services they sell.

What I don’t think is optional is a passion for your customers. Not if you’re going to start a business from scratch and build it into something GREAT. Equally, I don’t think being passionate about business itself is optional.

Unless you love the cut and thrust of building a business, it’s unlikely you’ll have the persistence, resilience or “opportunity radar” required to overcome the inevitable challenges and seize the opportunities that come your way.

Workaholicism: The Curse Of Self-Made Entrepreneurs?

Friday, August 22nd, 2008

Tell me, are you able to take a break from work without feeling guilty? Do you want to be able to take a break - you know, enjoy the fruits of your labor - without feeling guilty?

Because if the answer is “no” and “yes” respectively then perhaps its time to address the issue of… your workaholic tendencies.

I think this is a trap for many self-made entrepreneurs. I definitely include myself in this category. After all, you spend years making sacrifices and working your butt off to create the income and wealth you’ve always wanted for yourself and family. And finally you succeed!

But somehow you haven’t quite overcome the fear that if you don’t keep on putting in 60+ hour weeks, you’ll start slipping… you’ll get lazy… you’ll stop doing everything… your income will drop… you’ll lose everything!

This sounds illogical… but I’m not talking about logic here. I’m talking about an irrational fear that drives some of us to work excessively. Especially self-made entrepreneurs who had nothing to begin with and built their companies, brick by brick, from scratch.

So what’s the answer?

Well, firstly, let’s be honest. For some self-made entrepreneurs, there is no problem. Being obsessive and compulsive about work is just who they are. They’re happy!

But if that’s not you - for example, you don’t just want to build a successful business, but also want a happy home life and enjoy other things in your life, then there is a problem. Workaholic tendencies will interfere with those other desires.

In any case, workaholicism doesn’t just jeopardize your personal life… it may also jeopardize your business. Yes, the very thing that you’ve worked so hard to build!

Not being prepared to take a break means not letting your brain rest, recuperate and recharge so that it’s firing on all cylinders when it comes to work-time. Just as no serious athlete would train hard every day, every week, every month or every year… neither should a serious business person!

Athletes vary their training schedule to ensure there’s always recovery and repair time after hard training - it’s during rest that their fitness and strength improves! Business people are well advised to take a similar approach. If you want to be at your peak when you need to be, work hard… but rest hard too.

What’s more, the entire direction of your business depends on your ability to let go. I truly believe that if you can bring yourself to hire and trust more people, and overcome your desire to control everything, you will not only modify - if not overcome - your workaholic tendencies, but also grow your business well beyond what you, individually, are capable of achieving. Ideally, you will also have more fun inside and outside your business, because you’ll be able to focus on those activities you enjoy the most.

If you don’t let go… you won’t really have a substantial business. Not one that will significantly grow or run without you anyway. You may be fine with that, but realize that this is a choice you’re making.

And with that said… go and enjoy your weekend!