What’s the difference between a passion and a viable business idea?
Great question. It's important to distinguish between the two, especially when you're considering leaving the security of a corporate job for freelancing or entrepreneurship.
A passion is something that fuels you from within. It's what you naturally gravitate towards, what you'd spend time doing even if you weren't getting paid. It's essential for maintaining personal satisfaction, especially when the going gets tough. My passion for creativity, for example, drove me to leave engineering and explore new paths.
A viable business idea, on the other hand, is about meeting a need or solving a problem in the marketplace. It's not just about what you love—it's about what others will pay for. A viable business idea requires market research, understanding your target audience, and knowing how you can uniquely offer value.
Here's how to turn passion into a business:
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Capture: Collect and jot down ideas, feedback, and insights whenever you notice a connection between your passion and a market need. I started by identifying where my skills intersected with a demand—writing about the journey out of corporate life.
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Develop: Dig deeper—test your ideas and see what sticks. Develop prototypes, offer services on a small scale, or create content that resonates with your audience. During my pivot, I tested various freelancing gigs to see which could sustain my lifestyle.
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Expose: Put your refined idea out there. Share your product or service with the world, solicit feedback, and be ready to adapt. This exposure can validate your idea or help you pivot to something more viable.
Start small, test often, and remember that the best business ideas often require a blend of passion and pragmatism. Keep an eye on both your personal excitement and the market's response. This way, you create not only a business but a fulfilling life path.