www.PartnerUp.com - Small Business Community
 
6

Joe Burns posted a new Starting A Business thread on 3/27/2008

Does Passion = Success?

I am looking for a little insight in starting a business. Everyone tells me to do something I am passionate about and the success will come. The areas I am passionate about seem to be extremely saturated with businesses and highly competitive.

What advice do you have for a struggling young entrepreneur?
0
 
PartnerUp! Share This
Mark As Favorite
Mark As Spam Reply!
 
 
Sort Responses by : | |
11

James Williams Responded on 3/28/2008


Joey... The best advice I can give you is to keep exploring as many business ideas as you possibly can. Many people struggle to find their passon. If you try and research multiple ideas you might actually stumble upon something you did not know you had a passion for. Best of luck to you!
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
11

Jim Paulson Responded on 3/28/2008


My advice is to look for an unmet need that you are passionate about wanting. That will be more effective than saying I like scuba diving so i'll start a scuba diving tank company.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Christopher Clermont Responded on 4/7/2008


My first advice would be to change the way you think a little bit. Don't limit where you can start based on what is already there. It is important to think and stay positive. It is better for you if your going into a saturated market, that means people are already interested in the area you want to get into.

Just think of what hasn't already been done.

Example from above, scuba diving... How would you like to get paid to scuba dive? Ever heard of underwater logging?This is just an example I believe underwater logging is illegal at the moment.

BTW anyone interested in underwater logging there might be a way to get around the obstacles... Could be expensive to start though. Ask for more details.



0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Reid Robbins Responded on 4/9/2008


Definitely be interested and passionate about what you want for a business. I have always been told that businesses that I was in were over-saturated. It just meant that occasionally people would get out of them leaving their customer base behind.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
11

Bill Seneff Responded on 4/13/2008


Passion does not always equal success, but it helps start you down the path of your dreams. Passion creates great opportunities and great ideas but it must be profitable for you to be successful. profitability after all is the objective. Evaluate the profit potential of your dreams before you start. Start knowing where you want to end up. And Good Luck.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Demetrius Kilgore Responded on 4/19/2008


Well thats whats so complex about starting a business, its the uniqueness of whatever product or service you offer. If it is a saturated market then u can market your services differently than your competitors. Thats basically what market research does. alot of millionaires, and billionaires would not be what they are today if they did not take risks. always remember the higher the risk the better return or ROI. In short having a passion for something is a powerful tool with business,and the moral to that is sticking to your guns and always trusting your instincts.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
11

Bill Seneff Responded on 4/24/2008


Changing the way people do the things they need to do and making the process more reliable or affective is a way to find real rewards.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Glenn Wang Responded on 5/1/2008


My passion made me loose over $500K serious at one time,so i dont know if gutfeeling and passion always mean success
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
6

Stephanie Fernhaber Responded on 5/8/2008


Passion is important because starting and running your own business takes a lot of time, energy and persistence. If it is something you are passionate about, you are more likely to stick with it.

That said, I think your issue here is more about how to identify an opportunity in what you call a highly saturated / competitive industry. I offer some ideas for brainstorming on my blog (http://entrepreneurialprocess.blogspot.com/search/label/Ideas) and would encourage you to try and further examine a niche within the industry and/or how you can link something you are passionate about to another industry. Best of luck!
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Abe Sabir Responded on 5/9/2008


Passion in itself is something that will give you an additional margin of safety by bringing forth contentment in what you are doing, thereby enhancing your enjoyment for your work, however, it will not equal success in and by itself.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Abe Sabir Responded on 5/9/2008


Does Success = Passion?

Perhaps you will find the answer to your question in analyzing it from reverse.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Chris Benjamin Responded on 5/10/2008


I'm a startup consultant, and I deal with a lot of entrepreneurs, or those wanting to be. Definitely you have to be passionate about your idea. It doesn't guarantee success. Passion + Execution are what help get you there. Lot of people with 10 new ideas a day, but they aren't vested in any of them and as such don't really get into them enough to execute properly.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
1

Demetrius Kilgore Responded on 6/5/2008


Very Valid Point Benjamin !!!

-Demetrius
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
11

Bill Seneff Responded on 6/6/2008


Bottom line, passion does not always equal success, it is only one of the tragedies of ignorance. It requires a strict mind-set and variety of skill sets to be a successful entrepreneur. You need to understand finance, marketing, COGS, break even and what it could do to your family if you fail. Being an entrepreneur is a calculated risk no matter what stage in life you are in. When you are young and single it only affects you and your lifestyle. When you are married and contending with household liabilities it can affect the rest of your life. It is similar to investing in one stock in the market, can you afford to lose it if the thing tanks? We are not all designed to operate a business successfully. Most people do not understand what it takes it get from the beginning, to the middle and then urica we struck it rich. It is a lot harder than it looks.
0
PartnerUp! Mark As Spam Share This Add Comment
 
 
 Respond to thread
( Paste a youtube link to embed a video. eg: http://www.youtube.com/watch?v=dQw4w9WgXcQ )
Share on:



 Latest Business Articles

Learn more about being in business
The PartnerUp's Community's "How-To" content provides a deeper, more complete look into the topics and issues facing small business owners.



Read more..


 Explore The Community



 Helpful Resources


 
 
Home » Forums » Starting A Business » Does Passion = Success?