Let’s put an image into your head.
“Dad, I want to be a skateboarder when I grow up!”
“That’s nice, son, but you ought to pursue something a bit more realistic. Something that you can make money from to support yourself.”
Consequently, the son gave up skateboarding and went to school for business. But his passion for skateboarding and the “what if’s” were a constant thought in the back of his mind.
How many similar stories have happened in the world? Most likely too many to count. There is an importance to picking a realistic career, but this type of parental wisdom has also squandered many dreams. It is hard not to think of the unmet possibilities. While some passions are meant to grow extinct, others stay with us, taunting our minds about the “what if’s.”
The good news is that you can still pursue your lifelong passions even while pursuing a successful career. Whether you decide to pursue it as a side hobby or incorporate it into your career in some fashion, your childhood dreams can be part of your new reality, especially if you are an entrepreneur.
How Can Entrepreneurs Turn Their Lifelong Passions Into a Business?
As an entrepreneur, you’re in the unique position of being able to turn your past passions into a profitable business. You’ll have a much easier time incorporating your love of baseball into your career than a lawyer would have incorporating their love of ballet into theirs. After going through the notions of learning about business and how to make a profit, followed by real-world business experience, you’re most likely equipped to grow a business from the ground up. And, ultimately, there is a market for any type of business under the sun.
Let’s take it back to the child with a heart for skateboarding. After following his father’s advice, he most likely has a business degree under his belt and may have gotten hired at a start-up. But deep down, he knows he still wants to pursue skateboarding. He decides he is going to begin his own company, selling modern skateboards and supplies. There is definitely a market for this business and an opportunity for him to build it into a franchise, but turning his passion into a successful business will depend on a few things:
- How familiar is he with the industry?
- Does he have a target audience?
- What are his long-term goals?
The questions above are considerations that any entrepreneur should put into the foundational steps of creating a business. But if you have a passion for the industry you’re hoping to start a business in, the chances are that you already have the answers to these questions squared away. Since you are part of the market, you will know what role your company will play in the market, as well as the ins and outs of the industry and what you hope to achieve.
Combining your passion with your entrepreneurial skills could end in one of the biggest payoffs of your life. Turning your lifelong passion into a business is an extremely possible venture. Rather than waste your potential, consider how you can turn your passion into a scalable business.