From Passion to Profession?

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October 5, 2005 by Dane Carlson | 0 Comments

Business Week:

Everyone feels passionate about something. For some, it might be computer games, handmade candles, or chocolate cream-cheese crunch cake. For others, it may be skydiving, scrap-booking, or just good old-fashioned loafing around.

Whatever your fancy — no matter how eccentric, exotic, or mundane — you enjoy it, and that’s all that matters. But invariably, some enthusiasts have the proverbial eureka moment, becoming convinced that they have a million-dollar business idea on their hands. So how can you tell whether or not your particular passion has what it takes to make it out of your basement and into the big leagues?

Step back.

Begin by vetting it like a standard entrepreneurial endeavor. “It’s not any different from any other business,” says Gene Fairbrother, lead business consultant for the Dallas-based National Association for the Self-Employed. “You’ve got to determine first if there’s a market for it, then determine how much profit is in it.”