Welcome to episode 27 of the Free and Fearless podcast. Today I’m going to talk about the reason why I do what I do, why this show and any other content I create exists, and why I am where I am today. That’s passion.
It’s what helped me start the business, what helped me keep going, and what always keeps me motivated to grow it no matter what.
I’ll share a bit more about the role passion plays in all this and why I consider it one of the main ingredients of any form of success, and also how you can start a passion-based business and what its main characteristics are.
Tune into the episode below.
- Why 90% of businesses fail
- An example of a passion-based business that turned into the 6th largest company in the world
- How to stay humble when your business grows
- 4 steps to starting a passion-based business
- Signs you’re doing what you love
The Role of Passion in Business
Your business is your way of leaving something behind, achieving financial independence, being totally free and flexible, and helping others. But passion is the fuel that gets your there.
It’s the thing that allows you to take up on new challenges and enjoy every step of the process.
It’s what allows you to work crazy hours when you’re building a business, and not complain about it.
It’s what will help you have a full-time business and build a lifestyle you absolutely love thanks to that. It might take some time, but as long as you stay in the game, there’s no other chance but to win.
The failure rate of startups is 90%. Which means most businesses fail. Some see that as a discouraging fact. But I know why that is. Most people simply give up.
There are 1000 reasons to give up, if you look for them. But if you’re passionate about what you do, it also means there’s no reality where you won’t do it. Most people, me included, admit that we would do that work for free. And we usually do, at least in the beginning.
Passion not only gets you started in business but it keeps you going forever.
That’s something that no business degree, investor, business plan, or amount of initial capital can even measure up to.
My mentors in life and business are people I’ve found online who are all self-made entrepreneurs, living their best life, and growing every single day. They are passionate about what they do, and – honestly – I don’t think I can ever learn from or invest in someone who isn’t that.
This passion in business helps you relate to your ideal clients. It lets you be as real as possible and this is magnetic. I can immediately spot who’s real in their content, branding, products and just how they share their story online.
I have no time to spend on their blog, listening to their podcast, checking out their updates on social, or buy a product from them if they aren’t real. It’s just not what I’m looking for.
But those that I truly admire are the people I keep on my mind daily. I know how they started from nothing, how they had $0 in their bank accounts when first starting the business.
I’ve read or listened to anything they share online, and I most probably invested in their book, course or membership. Because I want to learn anything they have to teach.
Not to replicate it, because every business and every journey online is unique. But because I want to know what mindset they had at every stage of the process over the years, what mistakes they made and how I can avoid that, what bold moves helped them 10x their results in a short amount of time, and just what they consider important.
I can feel their passion through every single word they write, picture they post, and anything they create and share. That’s the content and work that can change my life, and that’s what I try to create myself too.
So, passion plays a huge role in business. We can even say it’s the 1 thing that can let you be part of the 10% of businesses that actually survive and thrive. It’s because passion is stronger than the fear of failure.
Let’s take MarK Zuckerberg as an example.
Right now, Facebook is the 5th or 6th largest company in the world, and he is the 7th richest person in the world.
But the early days of that business didn’t look that glamorous. It was just him in his dorm room, coding for weeks or months and working on a project he was passionate about. There was no guarantee anyone would ever use the social networking platform he was building.
One more thing to say here is that the kind of success that comes from passion in business is just next level.
You aren’t in this for the end result, you love every part of the process which makes it easier. But when the time comes to reap benefits, you feel satisfaction that few other things in life can provide.
Those wins might be more income than you know what to do with, total time freedom and ability to travel anywhere, seeing your clients’ transformations, publishing a book, or meeting the most amazing people because of your business. Whatever that is, you will be there to enjoy it and you will feel deep gratitude.
I also think that the fact that you started thanks to passion makes you humble. This is crucial when you hit 6 or 7 figures, when you get some more attention online, when you start living a bigger life and those around you notice. That’s when your personal qualities and mindset will decide how you handle all this and what you’ll feel on a daily basis.
There’s no place for ego in business. And because you’re so passionate about what you do, because you aren’t just growing a company to sell it and make quick profit, you’re in this for the long-haul, to provide value and to do what you love.
Now let me share some steps you can take right now to make passion in business a reality for you.
How to start a passion-based business
I think life is too short to be spent working a job you don’t like. Not to mention the discontent and boredom that leads to.
One of your missions in life is to find your career path and follow it. It’s what will give you satisfaction, will help you exceed, motivate you to be your best self and let you contribute to the world by doing your best work.
You’re not born to get a degree and work a regular job in the same field. That career trajectory is long gone. We live in the era of entrepreneurship and there are countless opportunities for those willing to work hard and try new things.
If you’re tired of doing the same tedious tasks daily, if you feel like there’s potential within you waiting to be unleashed and that you still haven’t found what you love doing, keep looking.
Here are the steps you can take today to take control of your career path and get closer to the life you deserve:
1. Assess your current situation.
It’s really important to be clear about where you are in life right now, no matter how bad it is and how disappointed you are.
Sit down and have an honest conversation with yourself. Figure out what you don’t like about yourself and your life, what’s missing, what things you want but aren’t achieving, and what must be removed so you can be happier and more successful.
2. Know what you truly want.
Define your purpose, find your true calling, get out there and try things until you understand what your heart desires.
The only career you’ll enjoy and will reach the top of is the one that you’re passionate about, the one you’re destined to do no matter what.
So set specific goals, break them down into smaller steps and see what you need to get there.
Read also: The Passion Test: Have You Found Your True Calling
3. Build your portfolio.
You can start doing something on the side before you quit your current job and jump into a new field.
Experience is important and it will help you stand out and form relationships if you first do it on the side, and even for free. That’s how you can find your first clients, make mistakes and see what doesn’t work, and eventually get better before you start charging for what you do.
4. Don’t be afraid to dream big.
Don’t let others tell you what you can’t do. Be ambitious and know you can get better at anything if you want it bad enough.
Now let me share some traits of a passion-based business in case you’re wondering what that looks like and what are the signs that you’re actually doing what you love.
Traits of a passion-based business
You would do it even for free.
Working on your business is one of your favorite things to do.
When you talk about it, people see your eyes sparkle.
It started as a hobby.
You’re really good at one thing related to your business and you’re on your way to mastering it.
You miss your business if you take too much time off.
You lose track of time when you do your work.
You have no doubt you’re in the right niche, it found you.
Many other things in your life began falling into place once you started devoting time to your passion.
You also help people with what you do.
And you get other people on board because passion is contagious.
You go the extra mile with your content, products and when working with clients just because you want to.
You’re grateful for having found your passion every day, because you still remember what life was like before it.
You believe anyone has a passion and can turn it into a business and you encourage people to go for it if they feel the pull.
And last but not least, your business makes you a better person.
I’m curious what you think about all this, what your experience with passion in business has been, and – if you haven’t found your passion yet – what step you can take first to get closer to it.
The world needs more people who do work they love. That’s the work that deeply affects others and it helps you too.