Should you choose passion over a paycheck?
Posted on Mar 02nd 2021
Job hunting spikes up on graduations, work anniversaries and milestone birthdays. Experts believe that such momentous life events give us an idea of self-evaluating and considering a fresh start.
In case you are stuck in a job, would it be a good idea for you to remain essentially because you're fortunate to have one or face a challenge on your meaningful venture? In case you are merely entering the workforce, would it be advisable for you to invest energy for a job or focus on building a business of your own?
There are numerous components you need to weigh before settling on these choices. Following are some questions which can help you understand whether you should passion over your profession.
Is my passion project solving some problem?
If you have a business idea which does not solve a real problem, you might end up investing your time and energy into the wrong project. It would be best to have useful insights into the problem and its solution to your customers and community.
You need to figure out if your project will make their lives easier and willing to pay for your product. When you get enough evidence and information, connect it to your initial idea and determine if you are going in the right direction or need to restart.
Does my product work?
Even after you approve your hypothesis, you need to test your base feasible item. An MVP is a practical model with barely enough highlights to pass on your thought in its most comfortable structure. The objective is to fabricate something that your client can utilize to give you primary criticism on what is working and whatnot.
Fundamentally, you need to utilize this phase of product advancement to a) form a community inspired by what you have to bring to the table and b) sort out a plan of action that serves their necessities dependent on their feedback. Doing this will empower you in two ways: First, it will help wipe out the gap between your item advancement and income generation. Through your MVP, you may have the opportunity to make a good income before officially launching the product. Second, you can utilize any income you make to help you build the next version of the product or service.
Do I have the resources and skills to manage the business?
Getting some work experience can help arm you with the essential administration abilities you need to get a business going. But, as a business visionary, you need to comprehend what you're innately good at and like to do and what you need help with. You don't have to have all the abilities required to maintain a business. Still, you should have the option to discover individuals with capabilities that complement your own to help you make progress. Monetary and time investment for your project is very crucial. So, you also need to figure out these things before starting the project at full swing.