Oyebode Rofiat

“ The most successful entrepreneurs are those who are passionate about solving a problem and making a profit while doing it.”_unknown

More than simply engaging in business, being an entrepreneur requires an intentional effort and attention. It is making your business grow and survive in the unending world of competition for business owners. But how do we survive this competition as an entrepreneur? This brings about what is known as “The Instrumental Ps of  Entrepreneurship.”

The first one being “Passion” and the other being “Profit”.

Passion, according to Merriam-Webster, is “a  strong feeling of enthusiasm or excitement for something or about doing something”. This is the driving force of an entrepreneur and can also be the thrill that comes with being the sole owner of a business or the thrill of being the sole decision maker of a business.

As much as this thrill is pulsating, the danger associated with the overwhelming and overstimulated feeling that comes with the aspirations of being the director, delivery personnel, and sales assistance cannot be overlooked.

The passion, as well as the reasons, that initiated the idea is the only thing that keeps one’s momentum in this kind of challenging situation. For instance, a fashion designer and new entrepreneur might get overwhelmed with customers’ orders, complaints, requests for adjustments, and other things that need to be done, but the passion of being a business owner is the only thing that prevents such a person from getting worn out. As an entrepreneur, one thing that keeps you going is your passion for what you are doing, and that is what propels you farther  in the entrepreneurial world. 

Now, to the second “Instrumental P”, Profit. Apart from being passionate about your business, it is of no doubt that when you do not get returns on your investments, the passion starts to decline and this withers away the solid foundation you have developed for yourself as an entrepreneur. Profit is the reward that an entrepreneur leverages on and it keeps the oil of the passion burning.

As a passionate entrepreneur, making no profit despite toiling relentlessly, projecting the break even year and anticipating the returns in your favour keeps one uncertain, apprehensive and discouraged. It might get to a point where your passion and interest for the business start to dwindle with time. This shows and places importance on the role of profit in the entrepreneurial world. It is important to meticulously draw up a business plan, carry out feasibility studies, foresee possible setbacks and possible backup plans to ensure the continuity of the business.

In conclusion, being an entrepreneur requires two main elements, which are passion and profit. Both are like the wings of a bird, balancing each other. If one is compromised, the entrepreneurial world will crash, and business growth will be hindered.