OK, that is a bold statement! Passion not needed for starting a successful business! Everyone and their cousins tell you that the number 1 thing you need to start a successful business is having "passion" for your products or services. The theory is that if you have passion for what you do, you will do your best. Of course, it makes sense and there is a truth to that!
The problem is that many people who have no foundation for starting a business, have not done their homework, have not planned well and have not prepared for the financial, family and time challenges they will face, simply start a business just because they have passion for it! Imagine you have taken yoga classes for years and you LOVE it! So, after listening to experts about 'passion' (and after a week of hell at your 9-to-5 work) you start a yoga studio, you invest all your savings (and borrowed money from your Mom) and you quit your day job! Do you really think that your passion will do the trick for business success? May be if you work super hard, and yet the chances of failure is extremely hard - if and only if - you did not do business planning, market analysis, market research, competition research, audience (prospects) analysis, financial forecasting for at least first 6 months and much, much more!
Now hear me out! What if you have NO PASSION for yoga business on the other hand? But you did everything else right. Your yoga studio thrives because of all your advance planning and market research. Now, you are part of a community (staff, customers and suppliers). You will be so fulfilled and happy, not because you LOVE yoga, but mainly because you feel the love, fulfillment and passion for creating a community; hiring great people and giving them hope, job security and peace of mind. You will suddenly feel a passion for the community you created and how you are serving that community of clients, staff members, suppliers and others.
You see, I am not saying that 'experts' should not mention 'passion' is a very important ingredient of success. What I am saying is that we should talk about realities of finance, adequate business experience (from the past or the willingness to learn at the job - fast) and serious study of the market, services, products and the audience. If you take care of the essentials AND you have passion for the business, the sky is the limit.
Oh, yes, LIVE WITH PASSION as Tony Robbins always says. Nothing will be as fulfilling as starting and sustaining a successful business where you created, nurtured and took care of a community around you.... And have a great week.