Don’t Let Your Passion Cloud Your Entrepreneurial Judgment
“Do what you love!”
A general and easily dispensed advice nowadays floats on every social media and mobile chatting app—no? Everybody is passing on this line like a New Year greeting and does not care to stop and think for a moment what does it constitute. What does it entail to do what one loves, and how it is going to be helpful to build a career or an occupation?
Well, if you have been bombarded with this advice in the recent past, you are not alone. There is nothing wrong with it, but if you are going to start your entrepreneurial journey on something you love, you need to stop and think before you spend your time and money.
Consider before you do it:
Is there a target market for ‘what you love’?
Are you solving a problem in that target market?
Are you passionate about pursuing ‘what you love’?
Before you start your entrepreneurial journey, make sure there is a target market of what you are going to do—whether you love it or not is a secondary consideration. If there is no target market, your business idea is doomed to fail.
Then, you need to figure out the problem or the issue that target market is facing, and is your venture going to solve that problem or not. All further business considerations are also needed to be made, but this one is primary—if it is offering nothing new to the customers of that market, the journey is going to be very tough. It would not be entrepreneurial but entirely another shop in the market who may or may not get any share of that market.
Lastly, if you see there is a viable opportunity, and you can offer something, are you passionate about pursuing ‘what you love’ as a career or an occupation. It is a long-term commitment, and you should be aware that you will need to give in all of ‘you’ to make sure your idea succeeds.