Chapter 1: What Makes a Good Business Idea?
Arguably the most important thing to consider when starting your first or a new business is passion. If there’s one commonality among all startup industries, it’s that founders will need to pull 16 hour work days often, sometimes for months, to get the business off the ground. This type of all-encompassing mental and physical commitment is only sustainable if you are truly passionate about the project you are undertaking, and even then burnout is likely, if not inevitable (more on this later). One of the best ways to go about coming up with a new business idea is making a list of the things you are already passionate about. The best business is a hobby that you can turn into an income generating source. Don’t ask yourself, what can make the most money? Ask yourself, what can I do for 16 hours a day for 6 months that won’t make me want to kill myself, and find a way to monetize whatever that might be.