Start­ing up? What’s your pas­sion?

Halifax Courier - - Business -

This week I thought I’d fo­cus on those of you who are maybe just think­ing of start­ing out on­line. Which busi­ness to choose? One of the big­gest mis­takes I see peo­ple make when choos­ing an on­line busi­ness is they choose a busi­ness be­cause of the size of the mar­ket. Now, you need a cer­tain mass of peo­ple who may want to buy from you but head­ing straight for weight loss or fash­ion is a fast way to fail­ure for most peo­ple un­less they have the pas­sion for their prod­uct. Sim­ply choos­ing some­thing be­cause it could make lots of money is usu­ally doomed to fail­ure. Pas­sion ver­sus en­thu­si­asm Most peo­ple start­ing out on­line have en­thu­si­asm, not pas­sion. En­thu­si­asm runs out pretty quickly and doubt can creep in when you’ve cho- sen a busi­ness for the wrong rea­sons. When I ran The Golf Chan­nel on Sky the amount of peo­ple who chose to sell golf re­lated prod­ucts be­cause “golfers buy any­thing and are loaded” was in­cred­i­ble. Sadly their prod­ucts of­ten weren’t great and they dis­ap­peared pretty quickly. Pas­sion is the thing that keeps you up un­til 2am, work­ing on week­ends and drives your friends barmy. When things get tough, as they can do on­line, its pas­sion that keeps you go­ing. Do your re­search Does any­one else think it’s a good idea? Talk to peo­ple who are your ideal buy­ers and see if you can sell the prod­uct to them be­fore you’ve ac­tu­ally com­mit­ted to large quan­ti­ties of stock. Pro­tect your brand early Now it’s time to choose and pro­tect your name. Years ago, you would go to Com­pa­niesHouse.Gov.UK check your de­sired trad­ing name was avail­able, then go to a do­main provider and buy your cho­sen web­site ad­dress. Th­ese days you also need to go to Twit­ter, Face­book, Google +, In­sta­gram & Pin­ter­est and reg­is­ter your busi­ness there too, on day one. This makes life a lot eas­ier in the long run. What’s your pas­sion, what are you pre­pared to give up to make this a re­al­ity? TV? Golf? Holidays? Have a great week­end!

Lee Kenny is Man­ag­ing Direc­tor at Hal­i­fax-based Snowflake Me­dia

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