Part 2 of our Lessons From Richard Branson series looks at knowing why you are starting a business in the first place – is it because you are passionate about your ideas or are you just trying to make a buck?
“Above all, you want to create something you are proud of…. That has always been my philosophy of business.
I can honestly say that I have never gone into any business purely to make money. If that is the sole motive, then I believe you are better off doing nothing.
I don’t think of work as work and play as play. It’s all living.
I’ve had to create companies that I believe in 100%. These are companies I feel will make a genuine difference.
Then I have to be willing to find the time myself to talk about them, promote them and market them. I don’t want to spend my life doing something that I’m not proud of.”
I have researched and profiled over 70 famous entrepreneurs on my website so far and one of the recurring themes that comes across is to start a business because you love doing it and because you feel you are making a difference instead of doing it for the money.
Starting a business requires a lot of hard work and effort. You will invest your time, your money, and a lot of energy to get it off the ground. Sleepless nights will be the norm and you will not get the chance to see your friends and family nearly as much as you would if you were working a 9 to 5 job – such is the life of an entrepreneur.
It usually takes a couple of years of hard work before a business really brings in any kind of serious revenue. Many of the most famous entrepreneurs in the world struggled for a decade, or more, before their company hit it big.
If you start a business only for the money then you are likely not going to be prepared to put in the effort needed to make it succeed. In addition, instead of loving what you are doing you will be forcing yourself to go to work, hoping that one day it will pay off.
Sure, you need to have a business mind and focus on trying to land clients so you can support yourself and build your company but it should not be your primary concern. Focus on your passion and on making a difference and the money will follow.
Evan Carmichael
