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Lately I’ve been hearing a lot about “passion-based businesses.
In fact, I’ve even started using the term my self.
Passion or purpose-based businesses.
Same, same, but a little bit different.
Passion Or Purpose-Based-Business?
A passion or purpose-based business is a business based on purpose – or, the thing that you were
born to do. The thing that drives you. That inspires you. And that you want to share with every one.
The thing is, not every one might be as passionate about your passion, as you are.
So a passion, or-purpose-based business – your product or service – is something that both you, and your customers and extremely passionate about.
Before you head of creating a business based purely on your passion – that no-one wants – there are a few things you need to consider…
01 – You Solve A Problem
If you’re going to turn a passion into a business, you need to provide something, whether it’s a product, goods or services – that people want.
In other words…
- You need to know who your customer is.
- You need to know what they want or need; and
- You need to be able to give it to them.
And most importantly, you need to be passionate about THAT!
It’s not about saying “I love swing dancing, and I’m passionate about it, and I want to share it with the world.”
That’s all about you.
It’s more about saying “I’m passionate about helping people connect with them selves and their bodies, and swing dancing is a great way to do it.”
Be Passionate About Accounting
There are businesses that aren’t perhaps, all that exciting on the surface.
For example, to many people accounting ain’t all that hot – it’s spreadsheets and legal jargon and tax departments.
Now, I do love a good spreadsheet my self, but for a passion-based accounting business, it’s not about the spreadsheet. It’s about what the spreadsheet can do -help reduce the stress of tax time and provide people with maximum tax benefits, which ultimately adds money in their pocket and value to their life.
So firstly, you need to solve a problem so people want what you’ve got.
02 – You Love It – You Want to Get Up And Work Every Day
You know you’ve got a passion-based business (or career for that matter) when you love it.
You wake up and you want to work, because it’s just what you do.
It excites you and you rarely grow tired of it. In fact, it drives you. It gives you energy.
You never actually FEEL like you’re doing work – cause you’d do it even if you weren’t getting paid.
Which you are.
Which actually leads me to the third point.
03 – It’s Profitable
A passion-based business, in fact any kind of business, needs to be profitable.
Otherwise it’s a hobby.
In which case, there’s nothing wrong with it. Have all the hobbies you like – if you love them. If they make you happy.
If you’re just doing things you love, then it actually doesn’t matter whether it’s a business or not. Because it’s making you happy.
Wouldn’t it be amazing if you could actually combine your passion and hobby into a business that generates you income.
That way, it’s the best of both worlds.
You Get To Do What You Love
And, you get to make money too.
Wouldn’t THAT be something to be passionate about?
Join me at lizwatt.com and find out how…