Turn Your Passion Into Profits

Dan’s audio Turning Your Passions into Profits is one of the best I’ve listened to when it comes to providing some great ideas for starting a small business. I’m a firm believer that a person should always look at themselves first, before making a decision as to what type of business they want to start. Typically, people who succeed in business do so because they are passionate about what they do; however, passion is not always the sole determining factor in whether a small business makes it big or goes “belly up”.

Often, it comes from simply finding the right opportunity at the right time. In today’s changing market it’s not always about what you like to do. You also have to determine if there is a market for what you want to do. I recently read an article about the two founders of Black River Produce in Proctorsville, Vermont. When Mark Curran and Stephen Birge first started their business back in the 70’s, they knew absolutely nothing about their product. Instead, they were looking for the right business opportunity and found a great one in establishing a wholesale produce company that supplied local restaurants with fresh vegetables. Passion, in their case, came from finally working for themselves.

Most of the time, it’s the passion that comes first. I posted a blog earlier this week about an ex navy seal who took many of the basic calisthenics he did while in the military and turned them into a deck of fifty cards called FitDeck. Phil Black, the inventor took something that he enjoyed doing as a soldier, and found a niche market for it among those who are conscious about staying fit but don’t have the time or money to go to the gym.

Ideally, both passion and marketability are essential for success. If you’re looking to start a small business, you must understand where your strengths are and, of course, where they aren’t. Those who are passionate about their service or product tend to focus their attention on this aspect alone—leaving the administrative and market research side to chance. In this case, it’s helpful to develop some discipline or pay someone to help you with this aspect. On the other hand, if you are the business opportunist, you can be too caught up in market research, and probably need to work on adding superb value to your product or service. Click Here for a working business plan questionnaire.
To access the links in this article, go to www.careercalling.com/Archives.htm and read the February 25Business Management Articles, 2005 edition of The Coach’s Career Tips and Resources!