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"How to Keep Your Entrepreneurial Passion in Check"

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Passion has been too often cited as the most valuable currency of the entrepreneurial world. It's what drives most to start the business in the first place. It's what gave perseverance when problems and troubles enter the scene. It can also be the fuel for creativity, persistence, and most importantly, excitement.

However, it's also no secret that passion will fade over time. Surprisingly, studies also suggest that excitement and passion about a business, and the entrepreneurial identity, tend to drop the most during the first 10 months after the founding of a venture.

Could it be one of the main reasons a lot of businesses, big and small, tend to fail at the early stages? It could. Thus, we learn that passion, like many other things in both personal and professional life, must be managed well.

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How to maintain passion from diminishing? Here are some ideas:

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1. Avoid sticking to the plan

Most business advice will tell you to develop a clear, laid out business plan before you start any venture, and it's not by all means a bad advice. A business plan can help guide your steps to achieve your milestones and goals in an efficient manner.

However, we should remember that a huge majority of the business plan is forecasting, which is an attempt to predict the future. No matter how good we are at predicting the future, sooner or later, we will fail.

When realities didn't meet our forecasts, it can cause disappointment, which can be a major cause for loss of passion and excitement.

Instead, stick to your business plan with a trial-and-error mentality. Divide your business plan to a set of milestones, and when something didn't go according to plan, be flexible and pivot.

For example, you might build your business with a certain target market as your focus. You develop your product for a whole year only to discover that the market doesn't react well to it. Pivot and explore more opportunities, revising your product if necessary. By maintaining a flexible mentality, you can also keep challenging yourself, and maintain your passion in the process.

2. Get Feedback (and Criticism)

When you start dreaming and realizing to be an entrepreneur, your reason may be to get that freedom to be your own boss. However, it can also be a two-edged sword. Having no managers or supervisors to tell you how you perform can be counterproductive, subconsciously, we are always getting motivated by feedbacks, both positive and negative.

Feedback can help you refine ideas and know where things might go wrong. Surround yourself with trusted people who might give useful feedbacks. Remember to not only having people who will tell you what you want to hear, but also people who might criticize you that you can trust, both in their competency and honesty.

Simply knowing where the problem lies and hearing it from someone you trust might keep that passion in you alive and well, no matter how hard the situation is.