{"id":55351,"date":"2018-07-01t16:00:56","date_gmt":"2018-07-01t20:00:56","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=55351"},"modified":"2018-07-17t08:21:17","modified_gmt":"2018-07-17t12:21:17","slug":"running-on-passion-or-running-on-empty","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/07\/01\/running-on-passion-or-running-on-empty\/","title":{"rendered":"running on passion, or running on empty?"},"content":{"rendered":"
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feinberg<\/figcaption><\/figure>\n

‘passion is nice. but passion with positive cash flow is so much nicer.’<\/strong><\/p>\n

by andrea feinberg<\/em><\/p>\n

hey, new business owner: congratulations on making a huge leap. your choice to risk it all (and i\u2019d say a predictable income, resources and benefits are pretty huge to leave behind<\/em>) takes enormous courage, persistence, and a plan. and, many would say it takes a strong devotion \u2013 some call it \u2018passion\u2019 \u2013 to the service or product you plan to deliver.<\/p>\n

well, i have a suggestion and i hope you\u2019ll take this personally (not\u00a0<\/em>a typo: i want<\/em> you to take it personally because your business will be among the most personal relationships and responsibilities you\u2019ll ever have.)<\/p>\n

i\u2019m going to suggest you shift your thinking:\u00a0don\u2019t start a business; solve a problem.<\/em>\u00a0unless your product or service can solve a specific problem (or, secondarily, expand on an opportunity) for a recognizable category of customer, you\u2019ll never make a penny.<\/p>\n

the first problem you need to solve is this: why do you want to be a business owner when a job means you know how much money you\u2019ve got from week to week? what will business ownership do for you that another job or career won\u2019t produce? what is there about business ownership that no other path can offer and that you really want? and be real; don\u2019t think in terms of big money and independence \u2013 those are not typically the first \u2013 or 2nd \u2013 things you\u2019ll enjoy with biz ownership.<\/p>\n

the 2nd problem you need solve is the one experienced by your prospects that no one has yet solved in quite the way you will. what? you\u2019re not thinking about problems to solve? you say you\u2019re just so excited over your gizmo that the world (not an ideal client,\u00a0the whole world<\/em>) will crash your site and clog your inbox with orders?<\/p>\n

oh honey, do wake up.<\/strong><\/p>\n

passion is nice. but passion with positive cash flow is so much nicer. please, do this before you hand in your 2-week notice: research.<\/em><\/p>\n