There have been talks lately if it’s truly wise to follow your passion when starting a business. AllBusiness, a contributor to Forbes, says that it definitely is. Building a startup requires deep and lasting commitment, and if you’re not passionate about your industry, your motivation will not be sustained. But what if you have 100% passion, but zero business experience?
Sure, you can get an MBA, but know that this doesn’t guarantee success. Not all successful entrepreneurs have business degrees. However, they maximise different means to learn business — reading books, subscribing to publications, and attending formal classes.
Get guidance from mentors
Learning straight from those who have ‘been there and done that’ beats learning from business books. Network with successful entrepreneurs and you’ll definitely find someone willing to guide and give you advice. Make sure they’re someone you trust and not somebody who will steal your business idea, though.
Consider being a franchisee
Entrepreneur and author Chris Guillebeau says that he doesn’t believe in what people say that you need to fail a lot to succeed. Building your own business from scratch is a huge risk, but there’s a safer and more conservative choice. For example, if you’re passionate about marketing in the digital age, explore a digital marketing franchise. This could be a great way to learn and perhaps start your own eventually.
Hire the right people
The right mix of people in your team will be an incredible success indicator. As a newbie, you want people who will be as involved and dedicated to making your business succeed. You want trustworthy and capable team members who will share in the ownership of your business.
When starting a business, it’s wise and practical to follow ideas that make you excited and looking forward to what is ahead. You can always work double-time to learn the ropes of business and entrepreneurship if you want.