As I was walking in downtown Toronto last week, I stumbled across a business called the Power Institute. Written on the window in bold letters were the words INNER STRENGTH. It is a fitness place, but I thought that is exactly what you need to build a business as an entrepreneur. Your inner strength of skill or experience or idealism can provide the engine for success.
If you are like many of us, the passion of your idea creates the business. It is the drive, the motivation and the excitement -all the elements that you need for success. Ideas for me have always been the fuel for my imagination and creativity. Ideas and their execution are my passion as a journalist, a producer and continues as a business development coach. Without the spark of ideas, the birthing of a new concept, production or business just can’t happen. That idea and passion need nourishment and also a clear reality check.
Here are a couple of tips to turn what you love into a viable enterprise.
Surround yourself with passionate people
Either partners or those you hire who share your zeal. It is crucial for your success you have the support of others. In my production business, I didn’t know my partners all that well. However, we shared the passion of wanting to make a difference in the productions we created. That shared passion kept us successful for over 12 years.
Keep the passion alive
Remember the elements you loved most at the start of your business, such as developing a new production or a product or meeting new customers and make a conscious effort to include some of those activities. Feed your passion with more of what you love. Sometimes you can get mired in duties that drain you, rather than nourish.
Don’t count on passion alone
While enthusiasm is a great place to start, it’s not enough to sustain your business for the long term. Before launching your business, do a reality check and make sure you have the other components needed for success, such as a willingness to work hard and a market for your services or products. Get as much feedback from potential customers as possible. No matter how great you think the idea is, you still need to understand what your market will buy.