How to Transform Your Passion into a Successful Business
Starting your own business is like jumping on an emotional rollercoaster with the highest of highs and lowest of lows — all the while, wondering if the ride will come to a screeching halt. Anyone can start a business but it’s infinitely harder to grow and sustain it. When a company faces challenges and falls on hard times (and it always does), it’s your passion and commitment that ultimately get the business through to the other side. If you don’t have a true passion for your business, everyone can sense it: your customers, team, advisors and investors.
That’s why focusing on your mission is of the utmost importance. This will enable you to make faster decisions and help you manage through the rollercoaster ride.
Here are three steps to help transform your passion into a successful business:
Do you know enough? If not, start asking. You have a passion and want to start a business! Do you know enough about the industry? With industry background and know-how, you’ll be ahead of the curve and can hit the ground running — producing products, building a customer base and forging your company vision.
If you have a great idea, but aren’t familiar enough with the field to get started, use your network, speak with people who’ve started businesses in your industry to help you get up to speed quickly. This is like building an informal advisory board of people who’ve gone through a journey similar to the one you’re embarking upon.
When I started NatureBox with my college buddy, Ken Chen, food was a passion of ours, but we honestly didn’t know much about running a food business. We began networking and discussing our idea with seasoned industry innovators to glean insights and learn strategies, tips and tricks for successfully running a food company. Our big breakthrough came when we attended a food tradeshow and met a few suppliers who were willing to work with us. Until then, we didn’t know how to find manufacturing partners.