Many folks end up becoming entrepreneurs because of a specific hobby, interest or passion. For example, many people enter the restaurant industry because they like to cook. However, they soon find out there is a lot more than good cooking required to make a restaurant succeed. Staffing, inventory management and customer relations all come quickly to the forefront of make or break issues these entrepreneurs face. Many are not prepared, and that is a big part of the reason why the failure rate can be so high.
Dr. Cornwall goes on to give an example of this from the dog boarding industry and to offer suggestions to people looking to make the swtich from hobby to business:
Before you start a business, particularly if it is built around your personal interests and passions, you need to slow down and look at it as a business.
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