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1. Know your Passion
The days of picking a business concept based on what experts say is a hot market are over. Flipping businesses gets little respect, whereas building businesses gets all the respect. Sure there are markets and products that are trending toward growth as understood by consumer behavior studies. There are also plenty of other lessons to learn from. However, the true bottom line is that if your heart isn’t in it, don’t do it. Too many times business owners start businesses on what people tell them to invest in when in fact they know little about the business or what it really takes to be creative and successful as a new competitor on a long-term basis. This sets owners up to grow tired, disillusioned and skeptical about where they are investing their money. This is a formula for long-term disaster. With the technology and resources available today, an owner can start a business at any level. There is no need to follow “experts” who don’t put their own efforts where their mouths are. So why not do what you want and what you love? Business owners are successful when they are self-aware and invest in what they believe in. When they have a true passion for their work, they are creative problem solvers. They create solutions that are intuitive and growth savvy. Growth-oriented business concepts can originate from anywhere (a basement, a bar napkin, a dream) but regardless, some aspect of the challenge must come from a passion somewhere in the owner’s bones for it to be developed into a successful outcome. |




