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Passion: The Great Equalizer

Not every business is an “A”.  Very few have Gillette’s compelling combination of recurring revenue and seventy five percent market share. Fewer still have the foaming at the mouth, “do no wrong” adoration of Apple’s customers.

Painting is not an “A” business: low barrier to entry and little recurring revenue. But, it’s relatively recession proof and offers decent margins. Let’s call it a low “B”.

My circle of friends includes lots of successful entrepreneurs and none of them operate what I would consider an “A” business. In fact, most solid businesses are “B’s”. So, why do some soar while others flounder?  The difference is passion.

Passion begets loyal customers, attracts and inspires exceptional staff and generates healthy profits. Read about Buffet, Trump, Pattison or Schultz, they all speak to passion. Passionate entrepreneurs are powerful.

Is it that simple? Sprinkle in some passion and Forbes comes calling? No, if you chose a “C” business you are in trouble. If you chose the wrong people, wrong customers and don’t step up, you are in bigger trouble! But, don’t obsess over developing the ultimate competitive advantage because in reality it ‘s probably not inherent to your business.

In my opinion, if you love what you do, if your team is dedicated to making a difference, if you are passionate, you’ll compete and win.

 
Dave Notte

About the Author: Dave Notte

Dave Notte is the founder of Wolfgang Commercial Painters, one of Metro Vancouver's largest commercial and strata painting companies.
 

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