Jenny Munford on Why Passion Is Important In Business
Posted on October 7, 2016
Photo credits to Roman Kraft at www.unsplash.com/@romankraft
When running a business, it’s important to ensure that the passion you had when starting the business doesn’t fade out and die. The characteristics that many people consider when evaluating the success of an enterprise are normally discipline, persistence, finance, ambition and talent. Often, passion isn’t included in the recipe for success. Perhaps this partly explains why 50 percent of new businesses fail in their first year of operation and the number rises to a staggering 90 percent failure rate in the first five years. Importantly, you should not underestimate the passion you have for your business.
At times, passion can be the most important ingredient that makes all the difference in the life of your business.
What is passion?
The meaning of passion, bar the romantic connotation, is the strong feeling of enthusiasm inside you. Everybody has a compelling desire or zest about something. When you are starting a business, you normally have this burning desire and intense emotion to succeed in your venture. However, for many people, the compelling enthusiasm for their business cannot be seen after some time. After all, running a business is stressful. On a good day, passion just comes naturally and other days are exhausting. However, if you manage to re-ignite and sustain passion in your business, then you’d be setting yourself on the path to reaching true success.
Importance of success in business
Running a business is taking a risk and it comes with many strains and obstacles. However, when you’re enthusiastic and passionate about your business, you’ll be in a better position to overcome the various impediments that you will surely come across in the course of running your business. Additionally, with greater enthusiasm to succeed, you will be more inclined to direct more effort at improving your business processes. This will have the effect of continuously making you better in what you do.
It’s not a secret that the people who have achieved the biggest successes in what they do are truly passionate and enthusiastic. Examples include mogul Warren Buffet, former Apple CEO, the late Steve Jobs, stocks magnate Chris Gardner and Facebook CEO Mark Zuckerberg.
This is why passion is so important in business:
Passion exudes confidence
When you have passion, you’re basically radiating confidence. Confidence has a way of creating value for yourself as well as others. Confident people lead the way, they support and they mentor others. Passionate professionals are respected by their peers and they earn the confidence of their followers.
Passion fuels excitement
With excitement in your business, you’re able to create and share systematized value, not confusion. When you’re enthusiastic, you’ll be able to make your team exited and they’ll be keen to work hard and achieve their targets.
Passion helps you focus
Passion helps you to become resilient and gives you the impetus to learn as well as strive to gain more competence in what you do. It endows you with the capability to focus and accomplish complex tasks.
Passion is infectious
If you’re a passionate businessperson, the people around you will also ooze with passion, and everybody wins in such an environment. Passion helps you create the right group dynamics and avoid dissension. Enthusiastic businesspersons are able to maximize their teams’ energy and are regarded as great leaders.