'Passion is nice. But passion with positive cash flow is so much nicer.'
By Andrea Feinberg
Hey, new business owner: Congratulations on making a huge leap. Your choice to risk it all (and I’d say a predictable income, resources and benefits are pretty huge to leave behind) takes enormous courage, persistence, and a plan. And, many would say it takes a strong devotion – some call it ‘passion’ – to the service or product you plan to deliver.
Well, I have a suggestion and I hope you’ll take this personally (not a typo: I want you to take it personally because your business will be among the most personal relationships and responsibilities you’ll ever have.)
I’m going to suggest you shift your thinking: don’t start a business; solve a problem. Unless your product or service can solve a specific problem (or, secondarily, expand on an opportunity) for a recognizable category of customer, you’ll never make a penny. READ MORE →