What is more important for a new business - Passion or Products?
Thursday, October 19, 2017
Written by Jeff Frank
Starting a business in which you have no passion makes no sense.
It won’t be enjoyable and you won’t put in the extra effort that is necessary to make most new businesses succeed.
Marketplaces are constantly changing. Hot new products that seem to be a sure bet today can quickly lose popularity.
Hot product lines that continue to grow rapidly attract additional competitors.
If you have no interest in the product to begin with, there is little incentive to come up with creative alternative strategies or put in the extra time and energy needed to overcome the new competition.
Small companies begin with tremendous cost and marketing disadvantages compared with larger well-financed competitors.
- Success depends on finding small niche areas which can differentiate you from your competition. These areas may include:
- Superior product knowledge
- Customization and flexibility
- Superior service
- Local visibility
In each case the ability to succeed is going to be heavily dependent on your passion for what you are doing and how willing you are to work harder than your competitors.