When and I were kids we always wanted to own our very own business, we never had much of an idea what we would create a business in, but we always had a feeling that we wanted to be entrepreneurs. Stephen used to constantly call me with new ideas, and I would do the same with him, madcap brainwaves which we were sure could make us millionaires. We put together a couple of businesses in our late teens which ended up failing, never with damaging consequences. It wasn’t until we left college however that we realized why those businesses had failed, it wasn’t through poor management or bad ideas, but because we didn’t really care about the industries which they were in. Since then we have an online business which is where both our passions lie, and things have gone very well indeed.
If you wish to create a successful business, here is why you have to care about the industry and what you do.
A new business, any business for that matter, requires you to put all of your energy behind it, you should be working at 100mph to get the business off the ground and make its successful. Owners are always the driving force behind a business and this is exactly why you have to care. If you decide to open up a vegan restaurant because you are sure that it will do well, but you don’t really care about being a vegan or the industry, you can never expect to put the required energy behind it, because you just won’t care. You may do well, but never as well as you would if you really cared about it.
Looking For Gaps
When you care about a particular industry you dedicate all of your time to it and you instinctively know what is going on, what customers want, and most importantly how you can find gaps in the market. If you don’t care about the industry and you are just in it for the money, you are not going to be as in tune with the market as you should be and these opportunities will just pass you by.
Does success and money make you happy? It most certainly can, but not if you have earned that money and that success from a business which you don’t care about beyond its potential earnings. The feeling which Stephen and I both have of getting up and going to a business which we genuinely care about is something that I would struggle to put into words, and we never got that feeling in the past with our other businesses.
If you want to become an entrepreneur then you can launch any type of business which you like, if you want to become a happy and more successful entrepreneur, set up a business based on your passions and what you care about.