SFS Minute 1007: Passion

Already this week, we have addressed the fact that entrepreneurship is not about creativity or risk. Most entrepreneurs copy their ideas from somebody else; they just do it a little bit better. They prove their idea for less than $5,000, and most of them bootstrap after that and own most of the business with very few outside investors. There's another myth about entrepreneurship I'd like to bust. I'll do that right after this. Common business advice says, "Follow your passion." It sounds so inspiring, but it's actually wrong. Most entrepreneurs do not love their industry; they would rather be with their family on vacation. They do not love commercial cleaning products; they didn't dream of becoming a janitorial supply company. No, passion usually follows success, not precedes it.