Running your own business takes guts, commitment and an undying passion for what you do.
Unfortunately, only the first two of these character traits are likely to see you emerge victorious after what is likely to be a tough race. Allon Raiz, CEO of business incubator Raizcorp, believes that owning your own business is like being in marriage: you may start off with an incredible feeling of euphoria that makes you believe that no problem is too big to conquer. “But then the euphoria wears off you become aware that not everything is going according to plan, and those problems you thought you could brush off seem to become massive challenges that you can’t overcome.
It is at this point that commitment, rather than passion, comes to the fore,” says Raiz. “While passion may be what attracts you to your life partner, commitment is what keeps you together. Commitment is shown in the conscious effort you make to stay together through thick and thin; or in the decisions, you make each day to do the things that need to be done, even if they’re boring or difficult.” He says that, for entrepreneurs, passion is the spark that ignites an entrepreneur’s business, but commitment is the fuel that keeps the engine turning over for the long haul.
Whenever he hears entrepreneurs complaining or commenting that they easily get bored and should perhaps move on to a new challenge, this sets off alarm bells as it signals a lack of commitment.
His advice to entrepreneurs who feel they are being worn down by how hard it is to get everything done and start considering packing it in, is this: hard is not wrong. “When you find yourself in your darkest moments, doubting your ability to carry on, it’s time to step back and re-evaluate your commitment to your business,” he says. “Owning your own business is hard work.
The entrepreneurial journey is a tough one. When you combine your resilience with commitment and allow your passion to inspire you, the result is one of the hallmarks of successful entrepreneurs: perseverance.”
Key takeaway: Passion will carry you only so far. Commitment and perseverance, even in the face of the toughest challenges, is what you will need to draw on to succeed as an entrepreneur.