How important is it for an entrepreneur to be passionate about the domain?

In the context of entrepreneurship, passion is not about ‘This is my hobby” kind of passion. It is about “I am excited enough about the domain to consider committing my current life in building a business around it. I like doing what is involved in doing the business, around this concept”.

Passion or rather deep interest is important because every business will go through its challenges. If an entrepreneur is not passionate about a particular domain, and its potential to create wealth through a venture in that domain, investors are vary that the person may give up at the first signs of serious challenges.

On the other hand, someone who is committed to a domain because of an underlying passion/interest is more likely to survive the rough times.

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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

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