3 Things To Think About Before Starting a Business

By David Finkel Executive Insider

Image CEOWORLD magazine

The startup phase is always an exciting one. It’s full of promise and possibility and for many serial entrepreneurs, they get a rush out of creating something new and fresh. But the startup phase can also be full of uncertainty and doubt, which can make it really easy to lose interest or dismiss an idea before it even gets to market.
Knowing What to Pursue and What to Abandon
The secret to a successful startup has to do with knowing what to pursue and what to abandon. After working with businesses for over 25 years, I have been able to distill which businesses you should take a chance on and which businesses are better left in your idea notebook. For most entrepreneurs, the most successful business ventures have three important factors.

1. It Makes You Excited.
   Building a business from the ground up takes a lot of work and dedication, and when things get difficult, it’s your passion that keeps you motivated to move forward. So if you don’t love the idea, the industry or the business …don’t pursue the business idea.
   After twenty-five years of working with business owners, it is very clear when you ask a successful business owner what they do for a living. You will see a noticeable change in the way they compose themselves. They love what they do and while that doesn’t guarantee success, it certainly doesn’t hurt when things get difficult and the business has yet to prove itself in the marketplace.

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