Experts will often say that only people who are passionate about their business can ever make a success of themselves. But there can be negative consequences of having too much business passion as well.
There are three main ways that passion can impact upon your business:
1. Driving your success It is possible to focus your passion in a way that sustains you even through the most difficult times. Unwavering dedication to a particular cause can sometimes be enough to power your business over the finish line towards success. Entrepreneurs like Steve Jobs and Richard Branson had moments in their working lives where it seemed impossible for them to keep following their dream, but their extreme drive and passion was enough to fuel their progress during those tough times, enabling them to eventually achieve their dreams.
2. Causing your failure Passion isn’t also always the best thing for your business and for many people a business fueled on passion alone can be a huge liability. It can get you into deep financial trouble if you continue to pursue a lost cause just because it is your own personal passion. Even perfectly sane people can have their judgement clouded by passion and make irrational decisions that are based on emotions rather than logic. If everyone tells you that you are making a mistake you should consider re-evaluating your position.
3. Ignoring your Finances Sometimes passion for a cause or project can be so strong that you find yourself putting aside any concerns about how much your business spends achieving its goals. In some ways this can be good because it will often ensure that the project actually gets completed – but what isn’t so great is if it bankrupts your business in the process! As a general rule businesses should always take good care of their finances using Accounting software to track the money that goes in and out.