So, you’re planning to put up a business and trying to use your entrepreneurial skills for the first time. You’ve already made a list of products and services to offer. You’ve come up with new business startup ideas. You’ve even drafted several versions of the logo you want to use. But even before doing all this, you must first identify what your purpose is. Ask yourself why you want to start a business. Is it because you want to have your own mansion and a couple of Lamborghinis? Is it because you’re crazy about this product or service and want to share your version of it to the world?
Many people who want to start a business are usually in it for the profit they can make. To survive in this world, you’re going to have to earn or make your own money so that you can have your own house, buy your own clothes, spend for food, and all the other necessities of life. You could set a long-term goal and use that as your motivation to earn as much as you can. You can put up a private label business and pour all your efforts into your selling and marketing skills. Go-getters and determined individuals would do great at making a profit from putting up their own business.
People who turn their passion into a business don’t usually have it all planned out, at the beginning. It starts out as a hobby or a product they’re really into that soon turns out to be something they can actually make money from because people notice how passionate they are about it and how well it’s serving them. There are some, on the other hand, who intentionally choose to make their passion their business. For example, if you love music, you can decide to put up a music school and use that passion to make a living.
What makes for a good business is generally that which you’ll be comfortable doing. So, whether it’s all about making a profit, or using your passion, determine where your heart lies. That’s the first step to making your business a successful venture.