How Passion Can Hurt Your Business
(Inc.) — Passion alone is typically what drives a founder to get a new business off the ground. Start-ups have little other fuel to make them go; their futures are completely dependent upon the founder’s zeal and dedication to the idea. Unfortunately passion and dedication are typically not enough. In fact, 80 percent of new businesses fail within the first five years, according to a study by Inc. and the National Business Incubator Association. So what’s the cause of this failure? According to consultant, investor, and author John Bradberry, the cause of these failing start-ups is also the same driver for many successful businesses: Passion. Bradberry argues that falling in love with a business can cloud one’s judgment when making decisions around the business.