Leading business with passion and self strength
One day in my class I asked students about their ambition or what they want to become in life. As usual many responded their career as their goals. To my surprise one of my students replied that he wants to become an entrepreneur of providing employment to at least hundred persons. He made it little more clearly by saying that hundred families should find their livelihood because of me. The reason is that, in his own words, “I want to raise the dignity of myself and the lives that surround me.”  Now he is running a business in many parts of Gulf countries, Australia and Singapore. Last April I met him in Dubai and we recapped that event in the class. 
We bid farewell to 2017 and now let's meet 2018 for innovative initiatives.  Many want to do business. Few succeed, but some fails.  Some are making greatest mistake copying others in business. Don’t copy others because each one is given different question papers in life. 
 Two things are very essential in starting and sustaining in business. One is passion the other is self strength. If we have these two the rest of the factors like capital, money, man power etc follow.  Almost every successful person begins with two beliefs: The future can be better than the present and I have the power to make so. 
Follow your Passion
Passion is our drive, ambition and the love of what you do and who you serve. It provides us with a very special view of the world that others often don’t see. For example, Steve Jobs had dreams for computers and Jeff Bezos of Amazon had a vision for a store that sells everything. 
It is incredible when skills and passion come together. Passion is what drives you. Passion keeps you going despite the difficulties that your business will inevitably come across. Are you passionate about your product or service?  The product can be the result of your knowledge, talents, abilities or mixture of all these.  If you are not passionate about “what” you’re selling, you can be passionate about starting a business or being self-employed. Remember working hard for something we don’t care about is called stress. Working hard for something we love is called passion.

Acknowledging self strength 
According to the Behavioural Economics the psychological level of economic decisions is very important. The strength of the mind and self image do affect our decisions in business. Generally speaking self esteem of people passes through three different levels. 
The first is a negative attitude (Poor self image). People with this attitude think that 'Nothing is good for me', 'No matter what I do nobody cares for me.,’ ‘everybody blames me for everything’,' 'If I had been in the hospital for two days, who knows who will come to visit me ...’.  These kinds of negative thoughts will not help them to proceed with their passion.  
The second one is that some people have a glorified self image. They think that they can achieve everything. They are the only persons to do it. They are driven by superiority complex and end up in total failures in business. It is difficult to work with them as a team. 
The real and balanced approach is to find our potentialities and limitations also the difference between the two. They follow a healthy approach to business. They have a passion driven and success oriented life style. They try to improve their potentials and reduce limitations by all means. They won’t blame others for the failures and in fact they take ultimate responsibility for life.

Increase Your Reach and Revenue
Owning a business will demand you to tap into your full potential so that you can be flexible and innovative. In Economics we use two terms namely Potential GDP and actual GDP. The former is the result of full utilization of your resources like time, energy, money, creativity etc and the latter stands for what you actually produce. The difference between the two shows your quantum of underdevelopment.  This is applicable to any individuals, system or institution. 
It is said that those who worry about the past and anxious of tomorrow are forgetting to live today. Yesterday is an outdated cheque. Tomorrow is post dated cheque, may or may not materialize. Today is the demand draft. So en cash it.  The experiences of 2017 should be the energy source for business in 2018. So turn your passion into action, money will follow. Successful entrepreneurs are rarely motivated solely by money.  Don’t follow money. Let money follow you. That is the secret of business. 
(The author is head of Department of Economics, in Bharata Mata College,  Ernakulam, Motivational speaker and trainer in Finance Management.  )

 
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