Wednesday, January 2, 2008

What's better? Smaller portion or all?

On my post from 12/29/07, I mentioned that I had been presented with YABI (yet another business idea). Wow, what a GREAT idea it is!

Now, I have two business ideas, both of which are great ideas. Both of which will be profitable. Recall that my time is limited and certainly not four hours a week yet. That begs the question: Shall I continue with my original idea, of which I control almost all of it. Or, shall I become part of this other idea, of which I will be a minority stakeholder?

There are certainly many variables associated with a decision such as this. I want to do both! I will do both. But I can only do one at a time, and for me, I have chosen to focus my energies on participating in the smaller percentage business. Why?

  • Passion - The new idea that was presented to me is one that has a lot of passion behind it. It's one that I believe provides a service that will be very fulfilling to the customers.
  • Marketing - The potential market is beyond compehension. The business model lends itself to repeat and referral customers.
  • Applicability to 4HWW principles - The business lends itself very nicely to the concepts described in 4HWW.
  • Partners - It's great to have other people involved for sharing ideas and strategies.

This list is not entirely comprehensive. I believe my smaller portion in business number two will yield more income, but more importantly, more life joy than business idea number one. It actually makes me feel that I have some purpose and ability to add value to the lives of others. That is priceless.

I have used eLance to accomplish some of the tasks associated with this new business already (I discussed those in an earlier post). This blog will continue to exist but with a different product concept in mind. It's still proving out the concepts in 4HWW. I have a new found energy that I haven't had in a LONG time.

I'm going to continue with both business ideas, but just apply SIGNIFICANTLY more time and energy FOR NOW into business idea number two. I'll keep you posted!

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