Which one would you choose as business? Your passion or what is trending?
Today, we will discuss if having a business on grounds of passion is better than what is trending (or vice versa).
But really, you won’t have this dilemma if you have my Ebook “Living Successfully in the Philippines” – I assure you that you will find that business that will suit you on my ebook, plus the details on how to establish them, which is GOOD.
Anyways, back on topic-
Business established from Passion:
Establishing a business from your passion is really beneficial, plus you know that saying “If you work on something you love, you will never work in your life.” – Problem is, that statement does not always happen without planning.
Though businesses that starts with this concept often becomes successful in due time. However, the business must still be founded not just on mere passions but also MARKET and VALUE.
Customers must be able to see your product and be convinced to take your offer, hence, a good market should always be a top priority. Also, your value as a seller and also of your products, must match the needs of the clients or customers. Failure to do so will only ensue a failed business, regardless if it’s your passion or not. The rule to follow is to ensure someone will buy consistently and your product must have a real life value i.e. NEEDED.
Businesses in Trend:
Trends on businesses often have 2 possible cause: (1.) Due to consistent quality or (2.) Due to hype.
A good quality product makes customers come back, and a latest product can be flocked by the masses – These are some words to live by in a business.
Plus, this is where marketing works its wonders too, but also, this is where marketing could also fail. As what we have said before, passion is not enough to establish a business – same reason you do a business research, watching out for TRENDS.
Trends for fashion, gadgets, hobbies, lifestyle… etc.
All of these are effective marketing tools but also a good footing for first time entrepreneurs because 60 to 70% of the market was already present. However, an entrepreneur should never let this get over his/her head because this could also be used to SCAM you on your desperate attempt to start a business or franchise (Talk about those Rogue MLM Schemes). Trending is not always good either, the last 40 to 30% of the market might just be hype itself – could be just a scheme or just another trap where the product value could fall anytime i.e. USELESS PRODUCTS. So, losing your money without DOING ANY RESEARCH is not a good thing – watch out for hypes.
So Which One Should I do?
As a tip on my Ebook “Living Successfully in the Philippines”, you should do your research and also your due diligence on whatever business you are doing. It must be something you also know, and the business needs to also have a market. Do this and its value will also rise in due time. That’s why, you need to get my ebook to ensure proper execution of such methods – my Ebook will teach you not only to be an businessman but also a SUCCESSFUL and INTELLIGENT INVESTOR.
As a final word, follow your passions – but do so while considering your target market or customers.
Do Business in the Philippines.