Two Most Important Keys to Succeed in a New Venture

Recently I attended a seminar about what makes some people click in their own entrepreneurial ventures while others just fade out in darkness after initial success. It was a good experience to hear few of the eminent speakers, but probably in their quest on blaming external, and few internal, factors for failure of various bright entrepreneurs, they forgot to focus on the psychological part of the issue. Let’s not forget ITS ALL UP THERE...

Today I would like to dwell on the two most important things which will help the 'entrepreneur' in you to succeed. Just like you, I have also heard some of these clich├ęd things often from everyone, "There are no shortcuts to Success", "There is no replacement for hard work", etc, etc. But there are two things which make us work hard and at the same time, help us achieve success easily.

Passion : A driver which gets you rolling

When a person decides to convert his idea into a business venture, he has to face many forces which suggest him to drop it. At such moments, one feels too weak and he needs a force which will not only make him counter these negative forces but will also energize him to fight his way through. Passion, for me, is that very force which makes one forget his/her difficulties and makes one fight through all constraints. Passion makes one sweat it out, Passion makes one forget hunger and illness, Passion keeps one awake through cold nights just to keep that 'lamp of idea' burning.

I have come across many people, who have greatest of business ideas, but when it comes to converting them into business ventures they just fizzle out. When I tried to find out the reasons behind this trend I found out all though few situations were against them, but they usually lacked the passion to work hard on their ideas and develop them. That is why I say Passion is the driver/force which gets you rolling through initial stages when other easier paths are ready to lure you.

Passion is that adrenaline rush which makes a soldier fight out, in spite of wounds and injuries, in worst of conditions. Even Venture Capitalists, or VCs, give a lot of importance to passion which a budding entrepreneur portrays while giving presenting his business plan to them. An entrepreneur needs to demonstrate his "love" for his idea, and where there is love there has to be PASSION.

Motivation : Keeps the flag flying high

Now that you have overcome the static friction, its time to dwell with kinetic friction. After setting up a business and getting initial success that one deserves, its often seen that people complain of lack of motivation to keep working. Boredom sets in and quite often and not, one tries to ponder over newer ideas to venture into. Motivation is that external or internal force which keeps spurring him to work hard. It helps in keeping complacency at bay and keeps one hungry for more success.

Motivation not only means keeping oneself spurred, it also means keeping your sub-ordinates and partners on their toes to fight out difficulties a venture may face. Setting Goals and giving incentives are some of the few techniques which can be used to keep people motivated.

One needs to understand that as in science, static friction is always greater than kinetic friction, similarly in business, setting up a business is more difficult than sustaining it. And after all the hard work of setting it up one needs to keep working a little less harder to keep it going otherwise it may just bite the dust soon. Any business start-up doesn't achieve success overnight, one needs to continue working hard to realize the full potential of the venture. It would be foolery to leave your dream project just due to lack of motivation. Instead, one needs to keep finding different ways to motivate oneself and one's team.

Passion and Motivation together can make anyone successful in life, and any business venture, a success story.

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