Passion Fuels Action but Vision Leads to Success

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Obtaining wealth may not be an entrepreneur’s primary goal when embarking on a business startup. Many entrepreneurs choose to go into business because they are deeply passionate about an idea, product or service, and hope to become wealthy as a bi-product of their ingenuity. 

Passion for an idea can lead to total involvement in the startup business; however, wealth can be compromised when a founder can’t step away, or when he/she is not able to relinquish control.

According to The Journal of Business Venturing on ScienceDirect.com, “Given the uncertain success of launching new products and services and the challenges of developing new organizations with limited resources, passion can become a key driver of entrepreneurial action.” 

When analyzing whether passion influences an entrepreneur’s need for maintaining control, due to being invested in the business idea, it’s also important to note passion for the idea can also fuel the need to fulfill long-term goals that impact future wealth.

There are different levels of entrepreneurship and one would assume that if a person is deeply passionate about their idea, then they would be less likely to let others make the “big decisions.” However, a high level of passion could lead someone to want to expand the business, create a franchise, or to get involved in founding a new venture. 

There are decisions to be made with a new start up business. Who will be the Chief Executive Officer (CEO) and what is the approach to organizational decision-making? How far and fast should the company expand?

Psychology Today confirms,  “entrepreneurs make huge emotional investments in their ideas….their business becomes their identity.  Any loss or failure is no longer just about time and money.  It is about their self-worth.”

It’s easy to understand how an entrepreneur may never want to step away from a business where they have invested so much or their time, money and a significant part of their core identity; however, this level of passion can lead a forward-thinking entrepreneur to even more success. More wealth can be obtained by what the The Journal of  Business Venturing refrences “The Corridor Principal,” indicating  “a long-term view should be taken, one that includes the likely possibility of multiple ventures.”

The movie The Founder is a perfect example of how the founder of McDonald’s Corporation, Ray Kroc, followed the Corridor Principal toward achieving a higher level of success by opening several restaurant franchises.

His vision for creating something much larger lead to growth and opportunity for the company.

In contrast, the original founders remained intimately involved in the day-to-day operation of the first McDonald’s restaurant, and they consequently sacrificed a significant gain in personal wealth.

Ray Kroc, as seen in the below Youtube movie trailer, is clearly operating out of a passion for the business on an entirely different level; focusing on wealth rather than control.

A passionate entrepreneur may want to maintain control like the original founders of the first McDonald’s restaurant; however, an equally passionate founder with a long-term focus can relinquish control, like Ray Kroc, in an effort to expand the business, gain more wealth or move on to something larger.

6 Replies to “Passion Fuels Action but Vision Leads to Success”

  1. I really enjoyed reading this post. I thought it was an interesting comparison to steer away from the “Rich v. King” debate, and instead analyze “passion v. wealth.” In the end, those who strongly believe in their vision will wind up desiring more control over their start-up than anything else.

    1. Zoe,

      Thanks for the comment. It’s interesting because I think regardless of the vision and how future focused a founder is related to business expansion and “thinking big”, there is always a level of control that an entrepreneur has over the organization when they stay involved. However, there ability to let go of control related to the smaller more operational aspects of the startup will lead them closer to wealth. After seeing The Founder for the second time, I realized that Ray Kroc was controlling other people, because his vision included “having” McDonald’s and owning the name. He just wasn’t controlling the day-to-day, but ended up having total control in the end due to the wealth he’d obtained.

      I appreciate your interest!

      Thank you, Jill

  2. Jill,

    I really like your response to wealth vs. control because it was more about the emotional side of an owners decisions regarding his/her business rather than about the strategic side – getting rich or having control. My favorite quote from your post was from Psychology Today, “entrepreneurs make huge emotional investments in their ideas….their business becomes their identity. Any loss or failure is no longer just about time and money. It is about their self-worth.” This quote makes me question what I would choose for my business, whereas five minutes ago I was definitely team ‘Rich’. Knowing how I am, I don’t think I could give up total control of my business if I had put blood, sweat, and tears into building it. I would still need to have a vote in the overall decision-making. Your post definitely makes me think, and I love that! So which would you choose for your business?

    Thanks for the read….. and thinking!

    1. Ashley,

      I’m really happy this blog got you thinking about your own business. If you are passionate about what you do, then you will definitely be successful no matter what avenue you pursue on your entrepreneurial path. As for me, thanks for asking! I was talking with my husband about this last night. My personality and work experience have led me to start many projects/programs, get them off the ground, and then I tend to want to move on to something else…a new challenge. So for this reason, I’m wondering if a serial entrepreneur will be my path. However, I also know that if I am really passionate about an idea, cause or concept, then it’s hard not to stay involved. Maybe focusing on expanding and developing the idea/business into something grander, larger or in a new directions would be a way for me to stay engaged. I’ll have to remain open to whatever is best for the future of the company. Thank you for sharing your thoughts and ideas, and for reading the blog! Jill

  3. Great post Jill! I like how you referenced passion, drive, and planning as it relates to “rich” vs “king.” I wonder if there are notable examples of founders who did the opposite of Ray Kroc and focused more on one thing or location, but still had the same success. I think many of our readings side with one perspective rather than being non-bias. It is almost implied that you have to have the “rich” mindset to be the most successful.

  4. Hey Jill,

    Wealth versus control through Wasserman’s book helps not only mine ideals of how I want to run my businesses but many different readers gain more of an understanding on how they might shape their ideas of how they would think about theirs as well. Your examples were really useful towards helping my overall knowledge of this topic regarding wealth versus control, king versus rich. Thank you very much for sharing your research and insight!

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