1 episode
LaunchLab - Passion Vs. Viable Business YaarnboxPrime
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- Business
We all have passion for a number of things and over time as we grow and get better exposure in life; this list of things we are passionate about also changes.
Reality check: When it comes to commercialization of an idea/product/service; it must make busines sense (there must exist an addressable market of customers who are willing and able to exchange money in return for a product or service benefit).
Is it possible for a passion to be commercialize? Yes, however, the passion (product or service) must be seen to be solving real market frictions.
Business is all about profit!
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Passion Vs. Viable Business
Shouldn’t I follow my passion?
Well, we’ve all heard that a number of times but is this completely true?
We all have passion for a number of things and over time as we grow and get better exposure in life; this list of things we are passionate about also changes.
Reality check: When it comes to commercialization of an idea/product/service; it must make business sense (there must exist an addressable market of customers who are willing and able to exchange money in return for a product or service benefit).
Is it possible for a passion to be commercialize? Yes, however, the passion (product or service) must be seen to be solving real market frictions.
Business is all about profit!