Passion for Business vs. Passion for the Business

Freundlich had worked in his family's food business for years, and had always been passionate about tea. However, he was not pleased with what was on the beverage market at that time.

"I am an avid iced-tea drinker and have been drinking Snapple and Arizona for many years. [But] I was never satisfied with those products; their use of high-fructose corn syrup as a sweetener was never to my liking, for health reasons," Freundlich explains.

Being passionate about the product can be crucial to certain types of small businesses. "You need the passion to be your own boss, to make your own decisions and handle the pressure of the day-to-day duties," says Winkler.

Still, sometimes passion for a particular product or service can force this type of entrepreneur to spend too much time in the quest for perfection. "My passion for tea got in the way as far as timeliness is concerned. I refused to settle for something that didn't meet the taste profile that I was looking for. Where formulation should have taken three to four months it took us nearly seven months to perfect," says Freundlich.

No matter what an entrepreneur's motive for starting a business, it will require the best use of one's native skills -- and a lot of hard work.