Starting a Business : For The Money Vs. Out Of Passion

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S
tarting your own business might be the most rewarding thing life has to offer. But then, come to think of it,

What motivates you? 
hat is the propelling force behind you starting your own business?

A lot of factors comes to place. However, whatever your notion is to start your own business, am quite sure everybody that starts a business for a reason or the other always end up doing something in common and that’s is rendering services and ultimately making money.

Starting a Business for Money

What is the sole purpose of starting a business? Is it not to make money? There is absolutely nothing wrong in starting your own business for the sole purpose of making money. Passion and money work hand in hand. Imagine I have passion the passion for helping the young, desolate and the motherless in the society, now that’s my passion, but then I need money to help this guy.

Why not consider starting a business for the sake of making money, it’s not a bad idea. Remember your passion towards helping the needy drove you towards starting your own business with the sole purpose of making money.However starting a business for money comes with its own danger.

It always takes time to break even in business most especially when starting your own business from scratch, you need to be patient and consistent with your business or else you will lose the drive to continue the business once the money is not fought coming.

There are a lot of people in the world today that started their own businesses with the sole purpose of making money, Donald trump and Bernie Maddoff are good examples.

But,

there must be something you must believe in so as to get the business going when the tough time comes.

Pros of starting a business for money

  • That drive to accomplish a lot with money in life and live comfortable good life might be the drive you need to propagate your business into a new level.
  • You don’t get distracted by things around once you are still making money

Cons of starting a business for money

  • You might make a business decision for a wrong reason, which might hurt your reputation and your business growth potential.
  • You might miss out of that inborn joy derived from doing something you really love.
  • You might have unreasonable expectations of getting rich overnight.

Starting a Business for Passion

Starting you own busy out of the passion you have for what you do might take you to greater places in life. Steve jobs, Bill Gate, Oprah Winfrey, and the Wright brothers all started their own business with the passion of what they love doing, today they are all billionaires.

But then,

starting any business without the sole purpose of making money might lead to the collapse of the business on the long run.

Yes, I agree with you that your passion is needed, but then your passion alone cannot keep the business going, you need to make money and expand the business.

If your reason to start your own business due to the passion you have for what you love doing without deep consideration towards making money, then you may need to reevaluate your decision to start your own business in the first place. You need the passion to get you going through ups and downs in the business, but then money must be made.

When the money is not yet pouring in, your passion for the business gets you going.

Pros of starting a business for money

  • Your passion sails you through the stormy days in your business
  • You will be very happy doing what you love

Cons of starting a business for money

  • You might have to sacrifice a lot, even from the small profit you are making.
  • You might go bankrupt in no time if the business is not yielding profit
  • You are likely to suffer from emotional setbacks and zeal when you find out it’s going to take time to become wealthy

Starting a business singly for money or passion may not be enough to see your business through and get you wealthy. You need passion so as to get you going in the business during tough times. Also, you need to make money so as to expand and grow the business.

Your passion for what you love doing and also the motive to make more should be the basis for starting your own business.

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