How to Turn a Passion Into a Thriving Business
Have you ever been so passionate about something that you heart beats out of your chest only thinking about it? Have you ever wanted to be brave, leave fear and doubts behind, and make your dream come true?
In over 3 years working at Online Retailer, I have met so many people that have inspired and motivated me about doing business. These people have been the ones that have followed their hearts, and put their souls into what they believed in. They have seen a need in the market, and they have used their passion to solve a problem.
But what does it take to be someone like that? What does it mean to be an entrepreneur these days, and how can someone turn a passion into a thriving business? We have asked Irene Falcone, Founder and CEO at the Nourished Life and Advisory Board Member of Online Retailer to share her thoughts with us.
Irene’s business started only 4 years ago and in 2016 it experienced a 900% growth. YES, you read it right. 900%! She must have done something right!
So here is what she had to say:
OR: How do you understand when a passion can be turned into a profitable business?
Irene: If your passion can be extended into a product or service, then it can be a profitable business! The best part is being able to earn a living doing what you are passionate about!
OR: What skills do you think are required at the beginning to be able take a passion to the next level?
Irene: You need to be very in tune with your intuition. You have to be able to trust your gut when you are sure that you’re heading in the right direction. It’s also important to remain dedicated, and remember what made you want take it to the next level.
OR: How do you combine passion with products for profits?
Irene: I’m extremely careful with the products I use on myself and my family, and my customers feel the same way. This can apply to any industry – don’t sell a product or service that you wouldn’t use yourself. I don’t think twice about turning away products that can make me huge profits, if they risk compromising my integrity.
OR: If you would talk to someone that is about to start their online journey, what would your top 3 tips be?
- Find your core target market and stay focused on servicing them!
- Surround yourself with a team of people who are just as passionate as you are.
- You have to be prepared to take on every role in the business. I come from a background in marketing and social media, however I have had to learn warehouse management, buying, accounting, and everything in between.
OR. Do you agree with people saying “Just Do It” or do you think planning is the best option?
Irene: When I started Nourished Life, I was so excited and motivated, so the ‘just do it’ approach worked for me. However, as the business has grown and people rely on me to make decisions, planning has become incredibly important. I try to plan what I can, but remain open to unplanned opportunities.
OR. What are the first retail technologies you have invested in when you started your business?
Irene: Simple online solutions are cost effective and easy to use! Shopping platforms like Shopify and accounting software like Xero can get a new business up and running in a matter of hours!
OR. What is #1 thing you have learned about creating a business in the past 4 years?
Irene: Nothing happens over night, no matter how much you want it to! It takes a huge amount of work, learning, and flexibility to achieve your entrepreneurial goals.
OR. You had 900% increase in sale in 2016 (*clap clap). What made the difference?
Irene: I believe the increase can be contributed to the huge growth and convenience of online shopping! With faster internet speeds, smart phones, apps, mobile sites and longer work hours, there is very little need to travel to department stores these days.
OR. What’s next for Nourished Life?
Irene: We plan to triple our product offering in 2017! Right now we are looking for a much larger premises to store everything!
OR. Can you share your number one actionable eCommerce tip for success in the future?
Irene: Be adaptive. Online commerce is going to continue to change and progress quickly, so be ready to change your strategy regularly
Irene is one of Online Retailer new advisory board member and will be speaking at the event on July 26-27 in Sydney.