We have often heard people talking about following one’s passion. There are mixed views about this in the real world. Some say passion is the fuel for success whereas others claim what you are passionate about might not always be entirely practical. This brings us to a very interesting argument when seen from the perspective of entrepreneurship. Unlike most other professions or ways of making an income, entrepreneurship is something that is truly driven by one’s passion. If you start a venture on something that you do not really believe in, there is no reason why the rest of the world will believe in it for you’re your business to take off. Thus, it is in true form the essence of what entrepreneurship should mean. What is even more interesting is the fact that this concept is going to hold true for a long long time and here is why:
- The market is filled to the brim with competition. The old and tested ways have been used and reused so many times that hundreds of people are trying to display their versions of the same thing. This not only makes it hard for your brand to stand out but also doesn’t leave any unique trace of it behind. In the decade to come, this is only likely to get worse with the ever increasing competition and population. Having a venture based on your passion makes sure that you stand out of the general league. This is something which is going to be significantly important in the years to come where almost everything will be touched and a unique passion project will be the only thing which will be able to stand out.
- The concept of value creation is going to define the future. Unless your venture gives something that is unique and valuable to the people they will have endless alternatives to go to. With a passion based enterprise in hand one tends to keep giving it some personal touches which are so desired to create value. Not only are you likely to work better at something that you are more passionate about, but eventually a sense of self gets reflected in your work which is what transforms your brand identity. It is safe to say that a lot can be extracted from a passion project without going an extra edge to make it seem like something unique. The same is likely to be true in the years to come. The value that you create for your brand will eventually make it a known name far more than its services. In fact, one must understand that people will only be able to avail your services if they know you exist. Thus, your passion project by bringing value to the table will reach heights of success owing to its genuine quality.
- The commerce of the scenario is something else to be kept in mind. It is essential to understand that having a monopolistic or duopolistic form of the venture should be the aim. The success of your business will definitely depend on whether someone else is able to provide a similar service for a better price. We can see this in so many instances in everyday life. Just like while booking a cab, we tend to compare the fares between Uber and Ola to travel at the best price, people tend to do that in pretty much everything else too. Having a passion based unique project lets you have a monopoly on your kind of venture. This is sure going to bring you more success since what you provide would not be offered anywhere else. You will have the ultimate control over setting your profit margins instead of being pressurized by competition to remain relevant.
Thus, passion-based entrepreneurship has a brighter future than most people recognize. If you can truly harness the possibilities of a unique idea, the benefits will be sure to multiply tenfold within the next decade. An idea is all you need to start. So it is high time you stop chasing the crowd. Follow your passion for entrepreneurship and rise to heights!