Determining the type of business to be run is not a simple matter. Of course, you will have a lot of consideration before deciding. The hope is that the decisions we make will prevent us from making wrong choices that will make us suffer later. For example, such as a challenge to keep cash flow stable in the midst of a declining sales number.
Among the various considerations that exist, we are also required to choose between passion and trend. You see, not a few business actors have started businesses based on trends, call it coffee shop business opportunities or frozen food that have been sought after since the emergence of the Covid-19 pandemic. But on the other hand, passion is of course also needed so that business actors stay motivated and consistent. So, between the two, which one is more important?
In the business world, maybe the word passion is overused. You are certainly familiar with the term "Do what you love"? This statement is not wrong, but as smart business actors, we need to think carefully, whether the passion we have is really enough to build success in business.
To build a business, you must provide services and services that can be consumed by people. For example, if you like cooking, you can provide catering services for your customers. In addition, you also need to balance the interests you have with the available capacity. Someone who can recruit more than 10 employees can certainly cook more catering products than someone who only works with 2 employees.
So, before starting a business, make sure that you really believe that you can make a profit from the things you are passionate about. It is also important to prepare for anticipation in case of challenges when running it, for example, such as problems with cash flow and finding raw materials. Then, make sure to take into account the amount of profit that you can get through the capital you have spent. Meanwhile, if we are sure of our passion, what advantages can we get through doing business from passion?
It is only natural that as an entrepreneur, you put in a lot of effort to avoid failure. However, this will be a problem if you have excessive fear of failure. You see, if you focus too much on your fear, you might even be hampered from developing your business.
In fact, customers can realize, whether you are really offering a solution for them or just looking for profit. Therefore, business actors who only focus on sales will usually find it difficult to build good relationships with customers. Meanwhile, business actors who optimize their interests will present the best solutions and are appreciated by their customers.
When you put passion first, success will be your main focus. Therefore, you will also try your best to present a product that suits your business market segment. You will also provide the best customer service to maintain customer relationships.
In the business world, business actors must be creative by presenting innovations in their products and services. Even so, that doesn’t mean you can miss trends that have a huge impact on the development of your business, both in the short term and in the long term. In addition, following trends can also help business actors to maintain their business in the midst of intense competition.
Keep in mind that as a business actor, you cannot immediately create trends. You see, a trend arises from the understanding of business actors of what their customers want. So, business actors who are successful in presenting this trend will be able to excel among other business actors.
Basically, the success of a business will be influenced by its customers. Therefore, you must ensure that the products and services you provide are what customers expect. While we already understand the importance of a trend in business, what are the advantages of prioritizing trends?
In the business world, trends will always change, for example, such as the emergence of financial technology services that simplify and ensure the security of transaction processes. In addition, there are also AR and VR which provide new experiences for customers when interacting with business actors, both offline and online. Therefore, when you understand what opportunities you can do, you will not limit yourself to the outdated ways of running a business.
Following market trends will also give you a lot of inspiration on what kind of products are getting good response from customers. For example, if you know that your customers prefer to order online rather than come directly to the store, of course you can adjust their tendencies. Provide Cashlez App that accepts face-to-face payments such as Virtual Accounts and Link Payment.
Apart from getting a better understanding of customers, business actors who follow trends will also understand the business competition they are doing. So, you will find out what other brands are doing to grow their business. But keep in mind, understanding your competitors doesn’t mean you always have to follow the strategies they are running!
So, between passion and trend, we certainly cannot choose one. Both are needed to support our success in business. Come on, start establishing your passion and diligently following market trends!