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why you should not find your passion in business

Does Passion for Your Business Lead to Failure?

why you should not find your passion in business

As always with our podcast and blog, you can listen to the content or read it. But in this case, we think you might get a kick out of hearing the fun story we share instead of just reading it. Just wanted to let you know. (Click PLAY to listen. Duration 5:13) ~ George & Mary-Lynn

This post was inspired by a great post over at Tech Cocktail called
How Passion Blinds Entrepreneurs. It’s part of their interesting series on The Psychological Guide to Starting Up.

They’re talking about the mental and emotional sides of entrepreneurship. We love it – it’s why we started The BIGG Success Entreprenurturing™ Center. Just like our brains, there are two sides to owning a business – the logical and the emotional.

The Tech Cocktail series is also very timely, since we’re celebrating
Small Business Week here in the United States. But we digress – back to passion talk.

If you’re an entrepreneur-in-the-making, you will often be told to “find your passion.” But we got to thinking…

Does passion for your business lead to failure?

Yes.

Here’s why:

When you start a business – it’s not a fling, it’s a marriage.

Trying to meet an idea

Picture yourself in a crowded bar. There’s you and a bunch of other future entrepreneurs.

You’re all there for the same thing – to pick up an idea.

You look around the room. An idea catches your attention.

You walk over to it and offer to buy it a drink. While you sit there, you get to know this idea a little better.

But there’s no chemistry. So you move on.

You repeat this process again and again. There are a lot of ideas in this bar.

But you’re starting to get frustrated. You’re about to give up. Maybe you’re just not meant for this life. You settle your tab and head toward the door.

Then all of a sudden…

Seeing the hottest idea ever

A new idea just showed up. Your head turns. Wow! You can’t stop looking at this idea.

It’s embarrassing. You hope the idea doesn’t notice. But it does. And smiles back at you.

You stop dead in your tracks. You approach this new idea. You start talking – you can’t believe how much you have in common.

And you just can’t stop staring at it. You can’t help yourself. This idea is hot! By far, it is the most attractive idea you have ever seen. It deserves your full attention.

You and the idea go out on several dates. You’re falling in love. You’ve never met an idea like this one. You just click. Romance blooms.

You commit to this idea. It’s your one and only.

And that’s when the trouble starts…

Falling out of love with an idea

When you were just taking the idea out on dates, you still had your own space. Now you’re sharing space. And this idea has some quirks which just drive you crazy.

The idea doesn’t fit in with the people who you want to help the most. They say they don’t get this idea of yours.

The idea requires more money than you ever imagined. You’re not sure if you can keep it happy. After all, you’re not rich – yet.

The idea also demands more of your time. This idea you’re hitched to is demanding!

The passion you once felt is gone.

You can’t take it anymore. You divorce the idea. Another marriage failed.

But it doesn’t have to go down like this in your business…

As with relationships, passion is the starting point in business. But lasting relationships move from the passion phase – where you don’t see the quirks – to a deeper love – where you clearly see and fully accept the idiosyncrasies.

So take your idea out on some dates. But be sure you’re looking at it without stars in your eyes. When you’re not just in love with your idea, when you truly love it, you’ll know you have the idea you can live with long-term.

And don’t ever forget – love is a verb. So take action. It leads to BIGG success!

Do you think passion for your business leads to failure?

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00866-061913.mp3

Image in this post from stock.xchng

Am I Paying My Salesperson Too Much?

Bigg Challenge
Max is a business owner. He hired a salesman about a year ago. Max put him on the same compensation plan that his other sales people were on (a small base salary with an incentive).

The guy has done a phenomenal job. Max’s company is showing record sales and profits, largely due to this sales person. But here’s the problem: this salesman is now making more money than Max.

Max wants to know if he should adjust his salesperson’s compensation.

Bigg Advice
What should you do about this, Max? Here’s what we think …

Nothing!

Here’s why …

Is it costing too much?
It is possible to over-compensate your people. You can’t design a system where a small number of top performers win bigg while the company loses money.

But that’s not the case here. You’re also making more money, Max. So if it ain’t broke, don’t fix it!

Handle with care
We’ve heard of great sales people who were let go when a situation like this occurred. It does happen. But remember the nursery rhyme about the goose that laid the golden egg?

This sales person is the goose. Handle him with care. Like the old Proverb says,

“Kill not the goose that lays the golden eggs.”

Your bigg payoff
Don’t miss the bigg picture. The bigg payoff for owning a business often isn’t what you make each year. It’s what you make when you sell it.

You’re building an asset whose value is based on the income of the business, sometimes called owner’s cash flow. As your bottom line increases, so does the value of your asset. That’s your bigg payoff.

How you can get paid more
You’re making record sales and profits so you can probably afford to add another salesperson. Before you do, look at your infrastructure and capacity to make sure you can support an additional salesperson.

If you can, then go for it!

There’s a good chance, if you do that, you’ll be the highest paid employee of the company again!

Model this employee
We would suggest cloning, but okay … we won’t go there! 

So try to find someone with traits and characteristics similar to this salesperson. To do that, think about what you know about him.

What industry did he come from, if he came from outside your industry?

What experience did he have?

What education?

Are there any other clues you can get from his background?

If you did a personality assessment as part of your hiring process, what did his look like?

And ask your sales person if he knows anybody who might work out well. Bigg goal-getters know bigg goal-getters.

Thanks Max for sending us your bigg challenge. We wish you bigg success!

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(Image by forwardcom)