"Getting Into the Right Business"
In his book, "Ready, Fire, Aim: Zero to $ 100 Million in No Time Flat," author Michael Masterson says that one of the biggest mistakes that new business owners make is choosing a business they know nothing about. This is a sure path to failure. Start with what you know and build a business from there. You will not only succeed, you will succeed faster.
These seven principals will help you in choosing the business that is right for you:
1. To get into the right business, you need the knowledge for that business.
"Go with what you know." Most people, when starting a new business, do not realize they are sitting on a goldmine of information. By mining the information you already have in your mind, you may start your business faster because you do not have to do a lot of research. You'll also have a wealth of information for creating products.
2. Having the right knowledge and skills does not guarantee your success.
Even if you already have the necessary talent, it does not guarantee you will succeed. Hollywood is a good example where some people who have tremendous talent but for whatever reason does not become box office sensations.
If something comes really easy to you, it's a natural talent. To succeed, you must not only cultivate that talent, but you also need to use that talent. Never stop developing and improving your talent.
3. You have to use the tools you have in the right way.
It's not enough to use your talents to succeed. You must use them in the right way. If you are not using them in the right way, you either need to further develop those talents, or you need to learn how to use them properly to succeed.
4. You can get rich in any business, but you will have to develop your tools along the way.
If you do decide to start a business on a topic you know nothing about, your first step is to develop the knowledge and tools you need to succeed as you go along.
Read everything you can on the topic you are interested in. Do your research and find out if there is a market for what you want to do. Do not waste your time developing products, or yourself, in topics no one is interested in knowing about.
5. Do something you want to do.
No one wants to do things that hate doing. When you choose a business, choose something you are interested in and will enjoy doing. Do not waste your time on a business you have no interest in because you heard it's a great way to make money. If you're not interested in it, you will not take action.
6. The best way to change your business environment is through growth.
If you want to change from one business to another, or you want to start your own business and leave your job, …