What business should you start?

September 13, 2017

This is one of my old 911s outside a Country Club I bought a few years back. Loved that car. Can't say the same about the Club! Will let you know why in a sec.. Many people message me and ask me about what business they should start. I would say you have 3 choices. 1) You can start something innovative that has not been done before. This is the most difficult and uncertain route as it requires the idea, marketing and a lot of uncertainty etc. The rewards can be great though. But it’s not for everyone. 2) You can buy or rent an existing business and do something with it or 3) is to see something successful in an area far from you, and then start something similar in your area (or online). That’s why travelling is great as it opens your eyes. Of course, there are some rules. For example, if you see a successful beach toy idea on a beach and you live in the mountains in Austria, then that will not work. The most important thing is to have an interest or be passionate about any business you want to get into. Which brings me back to the Country Club. I bought the thing because I liked the view! I mean, how stupid is that? I wasn’t interested in a Country Club, I was too busy with other things and I wasn’t even in the same country. Needless to say I lost interest immediately after buying and had no time to devote to it. Basically my purchase did not fall into any of the above categories; most importantly, I had no passion or interest in it. Some of you may say why the hell am I dishing out advice then? I am giving advice because I have experienced immense success as well as having made some mistakes and learnt some big lessons from them. I would even classify the mistakes as more valuable than the successes. And of course, I am writing because you keep asking! 

 

 

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