Never follow your passion in business
The idea of an individual following their passion for e-commerce is a common one. Because someone loves skating they decide to start a business related to skating. When you ask them why they started a skating business online they always reply that it has always been their childhood passion. The advice that seasoned business expert will always tell you is that you should not follow your passion. You should always focus on the most profitable economic venture. No one has a passion for oil, but when prices are high oil is a lucrative business to enter. In e-commerce or any other online business, this is the same principle. Passion an expertise in a certain field are different from each other. A love for something usually clouds one’s mind. This is the reason why passion in business always ends in failure.
When it comes to starting an e-commerce business months of research are very important. This means you have to have at least some prior knowledge in the field. Market research is important. You need to estimate how large the market is. If the market is t congested then I would suggest that you choose a business niche that is more unique and less flooded. Some businesses are actually easy to start than others, however, some e-commerce business niches have a larger market.
How building a business on passion easily goes wrong
When most people who are building a business on passion discover that their business actually is not doing well they continue pumping money into the business and this results in them becoming bankrupt or owing a lot of money. This is due to the fact that they end up borrowing too much. Love for your passion doesn’t always guarantee success in your business venture.