START YOUR OWN BUSINESSinto something that you really like, enjoy and care about. Passion is the
critical factor in determining small business success.
Peter Drucker wrote, “Whenever you see something getting done, you
find a monomaniac with a mission.”
Every business, and every product line within a business, needs a dedi-
cated champion who is passionately committed to the success of that
business. He or she thinks day and night about sale and profitability for
that business and product. Without a champion, without a person who is
passionately committed to making that business successful, the business
will definitely fail.
Even with a champion, there is no guarantee of success. But without
someone who cares more about the business, the products and services
and the customers than anything else, the business has very little chance
of surviving and thriving in a competitive market.
This is why it is essential that you pick a product or service that you re-
ally believe in and care about. You choose an area where you feel you
can really help customers by giving them a value or benefit that they
cannot get from any other product or service. Many people start busi-
nesses selling products that they enjoy using themselves. Other people
start businesses because they are passionate about the technology or the
science involved. Some people start businesses that are outgrowths of
their hobbies or their other interests in life.
Look for a product and service that you use personally and which you
can enthusiastically recommend to others. Identify the products and ser-
vices that you have the strongest feelings about. Look for something
better that no one else is offering. There may be a need or demand that
your current customers have that your company is not interested in sat-
isfying. Many people start businesses because their current companies
are not interested in their ideas and they are convinced that they can
make them successful.
Often people start businesses because of what is called a “significant
emotional experience.” Something happens in their life that triggers a
strong emotion, and propels them into entrepreneurship. Sometimes it is
the unexpected loss of a job. Sometimes it is the story of another person
who started his or her own business and become outrageously success-