Choosing The Wrong Business For A Business Essay

1149 Words Oct 14th, 2015 5 Pages
There’s a reason why so many people prefer to be on someone else’s payroll, rather than running their own business. It’s called failure. Many new businesses fail, and that’s what keeps more people from trying their hand at self-employment. But there are ways that you can avoid becoming one of the new business casualties that litter the economy each year.

Before starting the business, do your best to get upper hand in these five critical areas.

Choosing the Wrong Business

People often choose a certain type of business because they believe that it’s profitable. They often believe this because they saw it on TV, read an article, or know someone who is succeeding in the business. But whether or not that’s true, it’s not a good way to choose the business that you will be entering. Choose the wrong business, and you are practically guaranteed business failure.

When choosing a business, it’s more important to make sure that it’s right business for you. That means that it needs to be consistent with your skills and abilities, as well as your personal desires. The business should be one that flows naturally with your talents, and involves a product or service that you feel passionately about.

This will not only increase your chances of success, but it will also shorten the learning curve. Even if you convert your current job skills to a business, there will be a learning curve. Performing a service for someone else for a guaranteed paycheck is not the same thing as selling to a…

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