April 10, 2017

It depends.

Remember this always - "Entrepreneurs bring value to an idea."

One of the most common types of startup businesses is when someone decides they want to make their hobby into a business.

But let's be clear here.  Not all hobbies translate well into a business that creates an income.  I always advise fledgling entrepreneurs to follow their "interests", which may not exactly be a hobby.

For instance, if my hobby was collecting sewing thimbles or drink shot glasses from all over the world - that may make for an interesting hobby but it's doubtful I could get anyone to invest in it.

The great thing about business principals is that you can apply the same questions to a bootstrapped startup as you can a major startup funded by $10 million from a venture capitalist.

Ultimately, who is your customer?  How do you acquire/market to those identified customers?  What is your profit on each unit or service sold?  Do you have enough capital to sustain the business?  What makes your busines...

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