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The number one thing you need to start a business?

 

Coming from an accountant you may assume that I am going to say money, right?  No, actually I believe the most important thing an entrepreneur can possess is Passion.    Whether you are going to continue a trade you have previously learned “the right way” or you are starting a business you know little about you must have a passion for the venture.  Sure everyone likes the idea of being self-employed, the freedom and opportunity to pick and choose when you work, for how much and for whom.  We self-employed individuals jump out into this great big world ready to take on whatever may come.  If we make all the right moves, successes begin to come in, and we, as entrepreneurs see a client base begin to grow, we begin to turn a profit it is great and exciting.  

I think back to one of my business mentors and my pre-leap (from the corporate world to self-employment) questioning of what it was like when you were your own boss.  I said to him, “It must be great to love your job each and every day.”  He quickly corrected me and said there are days he watches the mail carrier outside walking through the snow and thought that was a better job than what he had.  I thought he must be crazy or just pulling my leg as I thought to myself, how can you not enjoy every minute of being in business for yourself?

 

Inevitably in business there is going to be a time when things are tough.  It may be the loss of a large account it may be that we are so busy we can’t keep up, but we also can’t afford to get help.  Whatever the challenge is reality comes marching in at some point.  As high as the good times are, the tough times are the lowest of low. 

 

They say most businesses fail in the first 3 years.  My opinion is that an entrepreneur just gets tired of the struggles in owning a business.  My company had its share of ups in its infancy and downs and there were several times I thought about closing the doors.  My passion is what got me through the bumps and bruises what kept me on tract.  I have found in business that when you hit that breaking point, if you have that Passion to succeed you find a way.  You find a way to grow, to make more money, to make your job easier, to be more efficient, and to do what it takes to move back to the good times.

 

Now when I run out of steam I realize that it is normal, and I begin looking for that next door to open to move forward with the success of my company.  That is not to say it isn’t stressful, because it is.  It is tough, it is work, and sometimes it requires a lot more hours than my old “job”.  But at the end of the day, I am reminded that I love what I do.  Keep the Passion alive in your business, take a moment to consider your successes, and learn from your failures.  Celebrate your new contracts and big accounts, being mindful of where you came from and your original clients.  OVERALL, enjoy your company -you have earned it.