20 Feb '12, 3pm

Starting a Business: Focus on Profits, Not Popularity

Starting a Business: Focus on Profits, Not Popularity

Last week I gave a presentation to a group of a few thousand people on how to create a richer life — one that is filled with more time, money, and meaning. Afterward, several people approached me to discuss their ideas for starting a business. What I heard was both exciting and disturbing. The best business ideas were those that were unique, thoroughly researched, and were focused on making money. While it may sound obvious for a business to focus on making money, I heard more than a few business ideas that seemed to neglect this critical aspect. Instead of dollars, their focus was users and views with no strategy for converting popularity into profit. While companies such as Facebook and Twitter have created billion dollar enterprises without any focus on profits, they are not good role models for you and me. If you want to start a business in your free time, you must con...

Full article: http://www.care2.com/greenliving/starting-a-business-focu...

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