Passion Vs Profit: Relevance in Business

Passion Vs Profit: Relevance in Business!

"Never forget that you are in business because you love what you do and whilst doing so you are also making profits"

Entrepreneurs go into business for various reasons; whilst some do so with the aim of making money, others may find themselves in a certain line of business because it’s currently trendy. Truth be told, who doesn’t want money? Everyone who decides to start a business today would not mind smiling to the bank! So why are you in business? Whatever your reasons are; whether you are passionate about a particular type of business or you just want to make some quick cash, both passion and profit are relevant for your business to grow. Here are a few reasons you need the two Ps in your business. 1. Without Passion, There Is No Drive: Starting a business can be quite tasking and sustaining that business can also be difficult. Without a flair from the onset of a business, the long haul of the business is challenging. In every business, you need something to push you towards achieving your goal. 2. Without Profit, There Is No Business: Profit is what aids a business’ turn over; this is why it is important every business creates its own financial projections right from the beginning. To know more about the relevance of financial projections in your business, consult our very own resource, The Startup Star. 3. Profits are Synonymous With Revenue: If you make profits in business, it proves that there is room for growth and also helps attract investors who may want to fund your business. Any business that is devoid of this will likely crumble sooner than is expected. 4. Passion Makes You Creative: Whether you have a small scale business or a big business, there should be a part of you that believes strongly in what you are doing. The orange seller who puts on a suit to sell his goods on the road is definitely passionate about what he does. Both passion and profit cannot be done without in business. So never forget that you are in business because you love what you do and whilst doing so you are also making profits. Follow us @bigstartupco on Instagram where we run our #AskBSU sessions to answer those mind boggling business questions! The Startup Star book is available on Amazon, iTunes, Barnes and Noble, Kobo, Bambooks, Lulu. The hardcopy is available for sale at CURA building. New 3, Old 6, Ogbunike street, Off Josephine Fingesi, Off Wole Olateju Street (the turning by Avalon opposite Diamond bank) , Off Admiralty way, Lekki Phase 1, Lagos. Wonuola Okoye Author of Startup Star & Principal Coach Big Startup Sign up HERE for one of our tailored services, designed to meet the needs of new and existing fashion entrepreneurs and you’ll be on your way to building your fashion brand and becoming a Startup Star.