Hundreds of companies have come and gone through here. Many no longer exist. Many remain strong and steadfast! This may be due to external factors beyond their control, such as cultural or technological changes, but among the controllable factors, one of the most important is the reason why the company came into existence.
Case 1: Driven purely by financial objectives. These are companies or brands created to make a profit, regardless of the industry. There is no affinity involved in the decision, only the glimpse of riding a trend and making the most money possible.
This model has a short life. As soon as difficulties arise or interest decreases, they close and go away.
Case 2: This is the model that comes from the personal professional aptitude of its founders. It is the almost infallible path of many such as lawyers, doctors, advertisers, dentists, chefs, and so on… These are companies that are born because their owners have a passion for their profession and cannot see themselves doing anything else, even if it pays more.
These are the ones that generally have a longer life. They face challenges, fall and get up again, reinvent themselves, always seek improvement, and do not intend to switch industries unless forced to.
Case 3: Some brands and businesses arise from passion, from love for an activity that often has nothing to do with the person’s professional background, but with a talent or interest in something else.
They usually start as hobbies, activities that people do at home because they enjoy them. Suddenly the hobby spreads among friends, relatives, acquaintances, and gradually becomes a business. Then you have people even more passionate because they do what they love.
It is also the model that suffers the most financially, as it is often more driven by love without caring so much about the financial aspect, which can lead to losses, lack of correct accounting, and administrative shortcomings.
So, which of these descriptions is closest to your case?