In rounding up our entrepreneurship theme for the month of May, let’s talk about why it’s important to start a business for the right reasons.
We’ll begin with a quote: “You can only become truly accomplished at something you love. Don’t make money your goal. Instead pursue the things you love doing and then do them so well that people can’t take their eyes off of you.” – Dr. Maya Angelou
The gist of this quote is this: Success (and therefore money) comes when you follow your passion.
Could that be the secret to success?
How many times have you heard people say, “I’m going to start this business on the side so that I can make enough to quick my day job and do what I really want to do.” Or, “I’m starting this business on the side so that I can make some income while I focus on building up my real passion.”
And unfortunately they probably weren’t that successful, because if your heart isn’t truly in your business, it’s obvious – to everyone. It’s obvious to yourself, your customers, and you audience. It will be nearly impossible to sustain your business because it doesn’t have heart, passion and purpose.
In today’s hyper-competitive markets, people not only want to feel seen and heard and understood, they want to know that the companies they are supporting care. They want to know that these companies are dedicated to something more than just profits. These are the companies that have a definitive and inspiring reason for being in the world that goes beyond just financial profit.
Remember this not-so-inspiring fact: nearly half of all businesses fail in the first five years.
Unless you have a strong enough purpose for your company to exist, you will most likely not follow through on both the determination that it takes to launch a business and the stamina that it takes to keep it going.
Being an entrepreneur requires relentless persistence day in and day out. The most successful entrepreneurs are not motivated by financial gain. They’re motivated by: a drive to make a difference, a deep love of the game, and a desire to use their talents to impact the lives of others.
While building anything from the ground up is incredibly challenging, if you have the right reasons, you’ll have the resilience and perseverance you need to become a success.
Bottom line: don’t start a business to make money, start a business to make a difference.
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