Part time business - Start something you love or follow the trend


6

This is an article that will answer the hot question from people – whether to start a business that you love or start a business on something that is profitable. If you confuse with this decision, I also suggest a proper way to solve the confusion in this article.

One of the hot question that most people ask when they want to start their own business is whether they should start something around what they love or something that is hot, trendy and profitable. Yes, I also think that this is a very important question to ask before you start any business. Your decision is going to be your main business theme in future.

Let’s discuss the pros and cons of each decision so you will have a clear idea on the options that you have.

 

Part time business - Start something you love or follow the trendDo What You Love, and the Money Will Follow You

In recent years, there are a lot of experts suggest that we should start a business around something that we love. Their advice will be “Do What You Love and the money will follow you”. This is a quite a interesting and attractive idea to start a business and it is no doubt that the book “Do What You Love, The Money Will Follow”, by Marsha Sinetar can be such as hot seller.

There are a few benefits to follow this advice:

  • It may sound easier for you. I believe no people will complain if they are given a task that they love to do. I also believe that people will spend all their time on something that they love. I even believe that people will be happy if they spend time on their hobby every day and make money from it. So if you start your part time business around what you love, the chances that you will success are higher. You can spend most of your time on it without feeling any boring and weariness.
  • You are the expert. If you are passionate on something, you can easily become an expert on it. Since you have spent so much time on it, your know-how, experiences and skills are higher than others. Well, people like to deal with those people they think is expert. So this is the way your part time business can grow.

Now, don’t you think it is great to start a part time business on your hobby? But please wait a minute and read on.

Yes, it may sound great that you can make money from your hobby. However, there is a myth on this – There are no guaranteed that you will succeed on this. This is because its risks!

Some of the risks are:

· The market is not big. You start a business around your passion. You passionate about it but not everyone in this world. So your market may be very niche until it is hard for you to really make money from it.

· Competition. If your hobby is too general, then chances that someone already start their business on it. If there are hundred thousands of people doing it, then the chances your business can survive will be low.

· The unexpected factors. Maybe you underestimate the cost to start your business around your hobby, or maybe you overestimate its potential, or it takes more energy and efforts to succeed. All this unexpected factors may ruin your business.

While pursuing your passion sounds great to everyone, however, there are more you have to think and plan. Maybe because of this, I found there are another group of business owners start their business in a totally different way.


Follow the Trend, the Money will Follow You Too

Generally, for this idea, you go out and find a trend which is hot or going to hot soon. Then you start building a part time business around it and make tremendous of money from it. There are many examples who have built their success using this simple theory: Jeff Bezos(Amazon), Ebay(Pierre Omidya), Michael Dell(DELL) and many others.

Some of the advantages to start a part time business are:

  • It is Hot.  You are starting a business on something that is hot and highly demanded by market. That’s mean your business can grow like a fire and spread out faster than you can imagine.
  • Less Effort. Sometime you don’t really have to push your business that hard as you can leverage the trend and it will push your business to the next level.
  • The potential of growing. I found that many businesses that start on this way can grow to a level that is hardly achieved if you start your business with the first idea.

Of course, there are also some disadvantages too:

  • It is not easy to find the hot trend. What I mean is it is not easy to find a trend that can be remained for a long time. For example, Olympic Game is a hot trend but it is a short term trend and it is hard for you to start a stable long term business on it.
  • You have to be fast. Trend is just like a current and sometimes you have to act fast to capture it. But in some cases, it is hard for us if we are new to everything about business.
  • Competition. Just like your hobby, some trend maybe too general until the competition is quite high.

Well, my first impression about this business starting advice is it doesn’t sound easy at all. I just think that it is quite confusing for a newbie to start business by finding a trend. So what can we do?

 

 

What I have chosen – Combine Both Advices

I knew and understand that I can start a part time business in 2 ways. I also confuse for quite some time to make my decision. I have to decide how to start my online part time business. I really don’t know what to choose. So in order to overcome this confusion, I made my decision that I can combine the 2 advices together!

First, I start a business around my passion and something that I love. This will ensure I can spend most of my time on the business (doing something I like) and learn how to run or build a business. After that, I will keep searching the trend. As my experience increased, I can start finding the trend in my business field and analysis it. Once I find the correct trend, then I will start another business according to the trend. The skill of market research is important here and we can learn it from our first passionate business.

My theory is quite simple and is easy to understand and follow. If you have any new ideas, you can share it here with us.

Related posts:

  1. Steps to Start a Part Time Business Around Your Passion and Hobby Before this I wrote a post about the first decision...
  2. Business & Income : Simple Steps to Start Business I always believe that to achieve financial freedom, we don’t...
  3. How to Start a Part-Time Business that Protect You Financially The other day I just wrote a post about Guide...
  4. Should You Start a Business During Recession? Global economy is in hot water now and everybody is...
  5. You want to start a business? Please research your market! So you have a business idea? You want to start...
  6. Part Time Business, Do you have What It Takes To Start One? This is an article that discussed what it takes to...

Comments (6)

[...] Check it out! While looking through the blogosphere we stumbled on an interesting post today.Here’s a quick excerpt This is an article that will answer the hot question from people – whether to start a business that you love or start a business on something that is profitable. If you confuse with this decision, I also suggest a proper way to solve the confusion in this article. One of the hot question that most people ask when they want to start their own business is whether they should start something around what they love or something that is hot, trendy and profitable. Yes, I also think that this is a ve [...]

[...] Journey to Financial Freedom asks Part time business - start something you love or follow the trend? [...]

I believe in doing something you love when it comes to business. No matter what there will be challenges, competition, good days and bad. If you are passionate about your business, nothing will slow you down. If your main goal is just to make more money, you may have trouble finding the stamina to keep going.

Hi Ryan, thanks for the reply.
Well, I believe those entrepreneurs who start their business by following the trend have a different motivation. Some of them might choose “making money” as their main purpose until a level it just motivate them enough to keep going. Besides that, the entrepreneur gens inside them also give a lot of motivation to them. They simply enjoy the process to start a business according to the trend. What do you think?

You have made two very important points here.

Doing what we love and doing what the trends dictate.

I agree that these are pillars for any successful business. I am also writing a series on this having been inspired by FMF’s articles on alternative income.

Thanks for the guidance.

You’re welcome, Fathersez. Once your series is ready, please let me know too.

Write a comment

Bad Behavior has blocked 411 access attempts in the last 7 days.