Continuing my series of common mistakes entrepreneurs make, today I urge you to create your business ideas based around your passion.
Great Entrepreneurs Ideas
A great business is one that you care passionately about because you care passionately about how your business helps your customers and clients.
A great business has innovative products that offer real value for money while making a major difference to the people who buy your products and services.
You Can't Build A Great Business Without Passion
You can't create a great business if you've lost touch with that fire that you had when you first started to make a big change to people's lives.
At its very heart, every business exists to help its customers to solve a problem or to help it achieve great things.
It may be very black and white in my coaching business. One entrepreneur may call to enquire about coaching and express how concerned he is about current business problems and how the business is suffering in the recession. Another entrepreneur will call excited about a business opportunity but unsure how to go ahead and take full advantage.
But your business is likely to be similar because strip away the layers and every purchase in a business to business environment is made to help the company to make more money - to increase the top line revenue or to reduce the middle line expenses.
It's not so clear in the business to consumer markets because but often you will be meeting some emotional need.
What If You Have Lost The Passion
If you've lost that passion to improve the lives of your customers, how can you find products and deliver services that genuinely excite them?
You can't. You lose that emotional connection to understand and empathise.
Even worse, the business becomes stressful and a drain on your emotional resources.
Anyone who has done it knows that running a small business is hard work and the pressures can grind you down.
By losing your clear vision of the future, by focusing on the short term problems it's so easy for you to lose your passion for what made your business such a great idea at the beginning.
Your entrepreneurial dream comes to an end and you become trapped in a job with the business as your master.
What If Your Entrepreneurs Idea Never Had Any Passion?
Sometimes businesses start out of need or necessity. An employee loses their job and as Michael Gerber says, wakes up one morning with an entrepreneurial seizure and thinks "I can start my own business."
It can be very exciting but what your entrepreneurial idea is a TINA situation - T(here) I(s) N(o) A(lternative).
If you don't really want to be your own boss but you can't find a job. If you want or need more money than you will receive on social security benefits, you are effectively pushed into the world of self employment and small business.
Perhaps not shouting and screaming but without a clear vision and a compelling desire to improve the lives of customers.
A few months ago I told the story of someone telephoning me and saying "tell me what business to start that will make me lots of money." I explained that business coaching didn't work like that and he became abusive.
My caller had tried a number of businesses but none had worked.
Because there was no passion for the business and the customers. Each business was just a way of making money and when things got tough, he got out.
Corrective Action - Finding Your Entrepreneur's Passion
Look very carefully at what your business does for customers.
What problems do you help customers to solve?
How do your customers feel when they buy your product or service and they receive the benefits they are looking for?
How do they benefit if you deliver a service that surpasses their expectations?
How do they feel when things go badly? What happens to them if your business lets them down?
Your passion comes from the change you bring to your customers and the desire to bring those benefits to even more people.
This is why I talk about customer focused entrepreneurs throughout my blog.
When you care passionately about your customers, the difference shines through in everything you do.
Other Common Entrepreneur Mistakes
If you would like to read about the other common entrepreneurial mistakes: