Dreaming of starting your own business? Many of us do, but taking the first steps to make this dream a reality can be difficult and a bit terrifying. Oftentimes when the moment and opportunity arrives, we back out in favor of preserving the status quo.
More often that not, we put our dreams on hold because we’re afraid to jump into the unknown; we prefer to play it safe. But ultimately, ignoring our dreams can be one of the main reasons we’re so unhappy in our jobs in the first place.
If you feel that the time has come to make that big change, it may just be time to finally turn your passion into a business.
Does your customer share your passion?
It’s easy to fall in love with your own idea, whether it’s a product or a service, but it’s always good to stop and ask yourself: does my passion help solve my customer’s problems; does my expertise bring added value to them?
If the answer is no, consider how you could modify or tweak your business idea to generate revenue. At the end of the day, if your business isn’t profitable, it won’t last – no matter how passionate you are.
As an entrepreneur, it’s not enough to be good at what you do – you need to be able to manage a whole range of business operations. Are you using the right tools for invoicing and bookkeeping? How about keeping track of transactions and receipts? Running a business can be confusing and time-consuming, especially if you’re not organised.
It’s easy to lose sight of your vision in the day-to-day routine of running a business. Keep your passion alive by focusing on the work at hand and doing the tasks you enjoy. Outsource tasks that you dislike, and don’t waste your valuable time on work that someone else can do in a much shorter time.
Why all this talk about passion? Because it’s what keeps us going even when we face setbacks (which you will).
When difficult challenges appear and you’re working hard to push your business forward, it’s important to remember to take care of yourself, to take some time for yourself so you don’t burn out. You’ll get a new perspective when you take a break once in a while and let your brain rest.
Another great tip for freelancers, sole traders and other solo entrepreneurs: get some peer support. Find fellow entrepreneurs in online communities, or seek company in your local meetups. If you’re running your business internationally, check out the Estonian e-Residents’ Facebook group to find talks about digital nomadism and solutions to your entrepreneurial challenges.
Optimise your time and focus on what you love
Your passion is the backbone of your business, but let’s face it: being an entrepreneur means dealing with the not-so-fun tasks as well.
If bookkeeping isn’t your favorite thing, let someone else do it. If storing and categorising receipts isn’t what you’d like to spend your Sundays doing, get the right tools and spend as little time as you can on it. Or, get an invoicing tool for your mobile device and invoice your customers on your train ride home. You can find such tools in Holvi.
Do whatever you can to save time and energy so you can focus on what really matters – your passion and your customers!
Holvi Payment Services Ltd is regulated by the Financial Supervisory Authority of Finland as an Authorised Payment Institution. The current account issued by Holvi is a payment account and the funds held on the account are managed as segregated customer funds. Funds on the payment account are not covered by deposit insurance and the funds do not accrue interest.
Mastercard is a registered trademark of Mastercard International Incorporated. The Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to licence by Mastercard International Inc. WDCS is authorised by the Financial Conduct Authority (UK) to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051).