Would You Work Your Business for Free?

Wednesday, November 1, 2006 at 10:15am by William Quisenberry in Innovation

Everybody seems to be chasing the dream of entrepreneurship these days, which is ultimately good I guess. However many individuals fail to really think about what business they want to start or what field is right for them to venture into.

I see it all the time, in fact I’m guilty of it myself. People will venture into some unknown field that they really don’t care much about and think that they will just “wing it” and learn as they go. Instead many of these same people end up getting winged, wasting money and ultimately valuable time.

Once I tried to create a business on impulse that I really wasn’t very familiar with, didn’t enjoy or have related experience in the field. I thought to myself, “I don’t have to like this business area in order to make some big bucks in it.”

This statement is true to a certain extent, but succeeding in a field that you find boring, (which is what I thought of this particular business) is a far greater challenge. Really when creating a venture money should almost be viewed as a reward, like icing on the cake if you will.

However I feel that money should never be the driving factor for you creating your venture, that’s just my personal opinion. I’m almost certain that many entrepreneurs would obviously disagree with that statement and say that business is all about “Benjamin’s!”

I feel when you start to relax, begin having fun and also discover goals and motives other than money when operating a venture, this is when things really begin to kick into high gear and profits ultimately will be an indirect result.

Before you start a business make sure you’re in the right field. Find something that your good at, in fact today’s marketplace is at all time competitive highs, so really you need to find something that your excellent at.

It is plain stupid to get into an area of business that you really are not very proficient in or at least passionate about. Just like it wouldn’t be smart to become an engineer when you don’t know your multiplication tables.

When you find something that you’re good at and also an art that you absolutely love doing, knowledge, expertise and creativity will begin to flourish in strong multitudes.

Besides finding a niche area or product that you would like to be apart of, also try to find something that you view as simple to understand that others typically dislike or would consider difficult. When you’re able to succeed in an area that others usually don’t, it helps limit your competitors and also give you a creative advantage over others.

So in closing when trying to figure out what type of venture to create try to look for:

1. Something that you’re exceptionally good at and have knowledge about.

2. Something that you find easy to understand and to perform that others around you label as difficult or struggle with.

3. Something that you truly enjoy doing and that you would do for free of charge if you had to.

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