The way I see it, there are two ways a person is drawn to run their own business. First, you can come up with a great idea that you think will make you money. Second, you can follow your true passion to its full extend until you make money.
For example, I was watching an episode of Shark Tank the other day and there was a young man pitching the “Hoodie Pillow”. The Hoodie Pillow is a pillow case with a drawstring hood attached to it. It’s basically the Snuggie of pillows. Was this a great business idea? Well, the Sharks seemed to think so because multiple funding offers were put on the table. But I thought it was missing one major component—passion.
Maybe the Hoodie Pillow was this guy’s biggest passion. Perhaps he felt innately compelled to help people relax and shut down in this hectic world. To me, it just seemed like he had an idea that was so bizarre that it went viral on Facebook and national TV and he got excited about the potential cash. Who’s to say?
My perception was that if he didn’t get funding from Shark Tank or didn’t see much public interest, he wouldn’t pursue it. That’s because that unshakable passion and drive wasn’t there in the first place. He’d just move on to the next idea and hold his breath and cross his fingers.
On the other hand, if you’re a musician, for example, and since as long as you can remember, it’s been your ultimate dream to share your music with others, you will not fail. You can’t just move on to the next idea because there is no next idea. This means when you get rejected, you just keep moving forward. Then when you get rejected again, you don’t give up your dream. Because for you, what other choice do you have?
David Hooper, author of Six-Figure Musician says, “As tough as it is to win, the cost of giving up and walking away is 1000 times more. The cost of losing is always wondering what could have been. The cost of losing is spending your life watching others from the sidelines. The cost of losing is being stuck at a job you can’t stand. When you think about things this way, you really have no choice but to win.”
Hooper is right. When you have that unrelenting passion for what you do, you have no choice but to win.
Is there a right or wrong way to get into running your own business? No. But with whatever you do, you have to have a deep-rooted passion for it to get through all the rejections, hard times, difficult decisions and uncertainty that will ensue along the way.