You’ve wanted to start a business. Reading a magazine you see a list of hot market trends. You get excited by one of the trends. Dollar signs begin to swirl in your head.
Dollar signs are nice. But once a hot trend is in a popular magazine it’s not a trend. At this point your on the back side of the trend.
There are valuable trends in markets. But are you the person to meet the demand.
During an interview at StartupNation Guy Kawasaki shared the following regarding what business trends were worth investigating:
“It’s not like you get up in the morning and say “I want to be an entrepreneur. Should I make chips, software, a dry cleaner, desks?” That is the wrong order. The right way is you love dry cleaning or software or chips and because of that love of and knowledge of that industry, you are going to change that industry. If you want to be an artist, be an artist! But don’t do it because you read in BusinessWeek that the market for art is getting bigger. Quite frankly, you might not have the talent.”
Before you consider trends you must know yourself. What do you like? What are you good at? You need to understand your strengths and talents. It takes more than a hot trend to create your business.
Where is the connection between your strengths, talents, and passion? Now you have a place to start from.