PASSION NOT ENOUGH

PASSION NOT ENOUGH



Passion is a driving force that gives you energy which brings your dream from your subconscious to reality to give you maximum satisfaction .when you are passionate you operate on a high level of performance and gives you the courage to overcome any hurdle that might come your way. Passion might get you to start a business but it is profit that will keep it afloat.

Business must have the purpose to pay salaries. targeted audience for sales targeted price, profit base, must have healthy competitor, longevity [create room for growth], must have quality control, sustainability capacity, must add value to users, meet the need, customer base oriented, business that can outlive the founder, business that create growth, challenges the workers to build capacity, create an environment for teamwork.


POINTS THAT CAN KEEP LOSS AWAY IN BUSINESS

-There is a teething period in every business, when the output does not tally with the input. Establish a strong bond between you and your staff, you are the visionary they are to support your vision, so they will need so much instruction, teaching procedures, organizing adequate training for them so that they can master their roles and functions in the business and that will help them execute perfectly and reduce loss. Also, you must make sure there is no communication gap between workers and their supervisors so that all mistakes can be averted quickly.

Communication is very essential between the owner and the managers, the production line is the lifeline of a business, it must be detailed when it comes to organization, delegation, materials input, and following to the letter the act of processing to the end of production of a product. law and order in the organization must be upheld. Any misconduct in trying to reduce the quality of input into production can cause great harm by losing the targeted audience.

If a business after tax cannot forge on with the expense and see to the day-to-day running activities of the business, then it should not be allowed to continue being existing. At this stage passion cannot play a major role in a choice that determines its existence.

Adequate and appropriate training of workers for professionalism opens the business up for great opportunities, and informed staff run with passion facing the right direction keeping at bay every hazard, it’s like putting round pegs in round holes while an untrained worker is an uninformed one who sabotages the efforts in the name of saving the day but just burying the organization, you can have skilled workers to handle some menial jobs in the organization but when it comes to the department that determines the existence and the continuous growth of the business you cannot afford to hire nonprofessionals. Passion will only keep you afloat for some time but when you put in place all the necessary measures and your product is what the customer is ready to buy into and pay for, then you can be sure your passion will be relevant.

Quality and authenticity of your product must never be compromised even when output is little but you can initiate a substitute in an item that will still give you good result, if it still meets the purpose and add value and helps in sustainable of price. In my 25years of doing business, I have learned to identify what gives customer satisfaction and what they are ready to pay for and that is originality, the customer is ever eager to enjoy and have value for their purchase, they can travel miles only to have quality .also discover that the same effort and energy will be exact in producing the quality products will also be used on substandard products. It is a decision that business and service providers must come into and carve their niche on what they want to be known for either originality or being fake.

Income multiplies when friends and family give reference to your company due to the product or service received from your company, even if the cost of the product is a little higher, it will always pay off because of the traffic you will have the pull to your web page or store. The amount of customers that patronize a product equals the level of awareness its been created and the income that is been generated. When you follow your dreams with no purpose of been accountable or been professional it will lead to nothing and bankruptcy will set in because you keep fuelling the dream that has no sales prospect.


Customer can accommodate your flaws for some times, your inadequacy towards timing, your inability to have enough produce for supply, accommodate imperfection of product, staff slackness to work, unprofessionalism ability for a period of time, shortcomings, it is not a good image for the organization when you always come up with excuses why you could not deliver as aspected, also customer becomes irritated when they do not get value for their money and when it has become obvious that the management is trying to cut unnecessary cost at the expense of given value to their clients. It is professional when you treat every problem no matter how insignificant as long as it pertains to your customer’s satisfaction. Every little move you take is noticed and this is one the reason your fan will stick with you accommodating you, ready to grow with you until you are able to find your feet. Do not take your customers for granted, they will always have an option, you have competitors who are ready to offer better solutions.

Business must have records of income and expenditures, there must be, up to date bookkeeping, it must not be jeopardized, ability to keep good records will help determine if the business is progressing or have the structure that can be sustained,

Where passion is not enough is when the business income cannot pay for the expense, when you will have to borrow from peter to pay paul.

Passion will not be adequate if the existing business does not yield income to compensate for the energy exacted. Profit is the grease that oiled the machine of productivity, every effort put into business must bring an equal level of profit or more.
Passion is not enough to keep business going when employees will not have their salary at the due date, it results in a reduction of morale and affects productivity.
Passion should not keep a business that affects the smooth running of another due to its incapacitated, if a business is unable to meet with the day to day running of its existence then passion is surely not enough.

A sustainable business creates room for expansion, an opportunity for workers to grow, give them a sense of ownership to improve on their skills, increase motivation due to growth and positive influence amongst its users, when instead of achieving these, it is frustration, debt increment, waste of energy and resources due to stagnancy in business development, lack of ability to stand out are the vibes the business is creating then passion will not be able to come to its rescue.

Profit is the lifeline of developing, established business, your income after tax is deducted from your profit and if there comes a stringent policy that keeps the profit at bay or unavoidable factors, if the cost of running the business is totally out of control if the growth becomes stunted after the adequate supply of assistance from other sources, then there is need for a reviewing of the existence of such business, if what goes into it does not commensurate with the income then passion will not be enough.

I will advise not to bank your entire savings on pursuing a dream but be adequately informed on the business and product you want to invest in, to know if it is what customers are ready to buy into. Startups entrepreneurs need to investigate and test the business atmosphere before embarking on the journey.