Two Directions

By Forrest Smith -

It seems like there are two directions an entrepeneur can take. One direction is to research a good market to enter, find a need, build a project, and hopefully make some money. The other direction is to just create a product that meets one of your needs, with the assumption that there are others out there who are looking for the same solution.

On the surface, the first option seems like it would have a higher chance of success, and it may very well be true. Taking the time to find a real need and building a solution to it makes perfectly good sense. However, the second option has a couple of advantages. Usually, when you are building something for yourself and that you are fully interested in, you’re more likely to stick with it when times are tough. Perhaps you work harder when times are good as well, just because you’re so excited to work on it. While the whole goal is to make money building a project, there is also the added benefit that if you pursue the second path, that if you fail, at least you still have a cool little project that you can use for yourself.