The most successful entrepreneurs are those who have the drive, enthusiasm, and persistence to achieve their visions. They have passion.
The Merriam-Webster dictionary defines passion as “a strong liking or desire for or devotion to some activity, object, or concept.” It drives entrepreneurs to keep doing meaningful work towards the goals set up by the business, even in the face of challenges.
Harry Wayne Huizenga Sr. is one of the most successful entrepreneurs today. He built three Fortune 1000 companies practically from scratch: Blockbuster Video, Waste Management, Inc., and AutoNation. He also owned several sports teams in the fields of basketball and hockey. In an interview in the book “There’s Always Room at the Top” by Alan Becker, Huizenga stressed the importance of keeping the passion alive:
We still have a passion for what we do. it’s not making the investment for the sake of making the investment. It still is having fun. If you are enthused and excited about it, you work at it harder. And you get up in the morning and you’re still thinking about what you should be doing and so forth.”
Here’s how passion can help you in your business and achieve success:
Passionate people are motivated.
Entrepreneurs who are passionate about what they do and their business tend to be more motivated. Starting a business can be tough, and oftentimes it takes long hours of work and persistence before their efforts pay off. It takes a massive amount of motivation to keep going and going even if the expected results are still far from the grasp.
Passionate people are more persuasive
Passion can affect how the entrepreneur and the product are viewed. It shows a significant level of commitment that will help persuade customers, financers, and employees to support the venture or vision. Passionate people give off a confident vibe that helps persuade those around them to become as excited as they are about the business.
Investors love passionate people.
Aside from a well-thought-out product and strong business model, one important quality investors are looking for from entrepreneurs is passion. They want to see whether the entrepreneur is pursuing an idea they are truly passionate about. They don’t want to give their money to those who will buckle when the difficult challenges barrel through.
Passion can help overcome the fear of failure.
Passionate entrepreneurs are more likely to overcome their fear of failure. While the risks and fear of starting a business will always be present, passion helps them work harder to achieve their dreams, and minimize the risks. They believe that they will succeed, and that belief will win over the fear.
Passion helps with long-term success.
When you possess a passion for your business, its success is the main focus. This means the entrepreneur is more likely to work harder (and smarter!) to create products that the target market would want. As a result, they tend to have more sales, income and their businesses tend to grow faster than entrepreneurs who are not passionate about what they are doing.