There are a lot of people who start their businesses because they believe their ideas are fabulous and unique, and they also believe that the operation of a small business is going to make them rich. Often they believe riches will follow quickly if they get their businesses going.
Sadly, it is almost never the case. Most small businesses do not make their owners filthy rich, at least in monetary terms, and almost all small businesses take a rather long time to a) become profitable and b) start yielding significant profits. So what happens to these people who are motivated primarily by the money?
They fail. Often they give up. Typically people motivated by the money become impatient and disillusioned about the business, and pack it in, or worse, start vacillating between running a business and trying to get a regular job. They become bitter, and sometimes even feel betrayed by a world that isn’t giving them what they want when they want it.
It’s sad.
The reality is that if a person is motivated solely by the money, it’s not likely they will be able to maintain the work schedule and exhibit the commitment that will actually get them the money they seek. Small business is hard work, and impatience to make pots of money tends to be self-defeating.
Small businesses that succeed are run by people who want more than just the money. Yes, they want the money, of course, but they are motivated by other passions. They may love the small business lifestyle, including the stress, and sense of action and control. They may have a passion for helping people (their customers and clients), or motivated by challenges. They may love the area in which they do business (cooking, eating, crafts, sports).
But one thing is sure. Without a passion for things connected to the business that are NOT money, it’s very hard to get through the tough times that any small business will face. When the going gets tough, loving what you do, and not just the love of money, will get you through.
What’s your passion about your small business?
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