From passion to profitable business: Transforming what you love into what you do
Do you spend hours at your desk at work feeling bored and wishing you could be doing something you really loved? Are you passionate about something and dream about finding a way to transform it into a successful business enterprise? Starting your own business is a journey that is bound to be filled with ups and downs, but it has to be said that if true passion lies at the centre, then the chances are that you’ll be able to overcome even the greatest of obstacles.
Do you spend hours at your desk at work feeling bored and wishing you could be doing something you really loved? Are you passionate about something and dream about finding a way to transform it into a successful business enterprise? Starting your own business is a journey that is bound to be filled with ups and downs, but it has to be said that if true passion lies at the centre, then the chances are that you’ll be able to overcome even the greatest of obstacles. There’s no better time than now to try and turn what you’re passionate about into a profitable business, and here are a few things to get you kick-started.
Define your passion
It’s one thing to have a passion, but it’s another to turn that passion into a money-maker. The first step is to define your passion clearly, which will make it easier for you determine whether or not there is in fact a gap within the market that it can fill. Having a firm grasp on what it is you wish to offer will give you clarity on whether or not it’s a feasible idea and worth pursuing.
Become an expert
You have to ask yourself this question honestly: Do you have a thorough understanding of the industry you’re wanting to enter? If your answer is “no”, then you have to work on acquiring information with the aim of becoming an expert in your field, because at the end of the day it’s really no use having an amazing idea, but very little knowledge about the industry in which it will live. You need to know the industry inside out so that you can know how best to operate within it (this will include knowing your competition, price points etc). How do you achieve this? You talk to people in-the-know, you conduct research and you network as much as possible.
Offer a solution
Once you’ve identified a gap in the market, you’ll need to work on how what you’re offering, be it a service or a product, can make things better. This will also include differentiating yourself and fine-tuning your USP (unique selling point) – something that can put you ahead of the rest. Essentially, it’s about proposing something that is sustainable and offers the best possible solution to a current problem/need.
Partner with the right people
As you attempt to launch your business, you will encounter many potential investors, some who will turn out to be frogs and others who will be your prince. The important thing to remember is to choose investors that are the right fit for you and your business. They shouldn’t only be your source of funding, but ideally they should also share your passion and be able to provide you with useful connections within your industry – connections that will help your business fly.
Bottle the noise
Finally: stop listening to other people and unwanted noise. Whilst it may sometimes be important for you to listen to certain opinions and advice within business, it’s just as important to follow your gut, live your passion and create your own destiny – you may just be surprised by how much you’re able to achieve.
You’ll be taking a leap of faith if you decide to make a career out of your passion, but with the right approach, guidance and planning, you may just be the next successful entrepreneur to take the start-up industry by storm.
Sage One can be there for you when take that leap of faith –contact us today and let us be by your side as you transform your passion into a growing small business.
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