Tuesday, October 7, 2008

The Most Pofitable Businesses

By Scott Abraham

A very wise man once said: "A man is but a product of his thoughts - what he thinks, he becomes" (Ghandi). What he was getting at is that if you surround yourself with positive thoughts, then good things will happen to you. If you've ever met a successful business owner you will know this is true. They rarely dwell on the negatives, as they know that this is part of the game. Rather, they relish in the positives and enjoy their successes, especially since they took so much work to come by.

So if you are considering taking a crack at the lucrative small business market, you need to apply Ghandi's principles. Think positive, act positive, and good things will happen. The great thing about this is that even when bad things happen they won't seem so bad after all.

Above all though, you need to be realistic. A business is not going to be successful if it's principles are not based on realistic goals. A great idea is one thing, but if it isn't followed up by facts and research supporting the profitability of the idea, then no amount of positive thinking is going to keep it from going under, and dragging you down with it.

Despite What all of the books that try to sell you some magical code of success tell you, there is no key to having one of the most profitable businesses. In reality, most of these highly profitable businesses were started by people who already had a lot of money. They would use this money in an intelligent way to make even more money by investing. I am not saying that it is impossible to start one of the most profitable businesses without a lot of money. Nothing is impossible, and it has been done before. I am just saying that you probably have a better chance of winning the lotto. Start with reasonable goals and you will not get discouraged. Leave the dreaming for the dreamers.

If you do have a truly visionary idea, however, what you need is to be pragmatic. Rarely are the most profitable businesses started without sound financial backing. Start up businesses can struggle for years, not because they do not have good ideas or good leadership, but simply because there are bigger fish in the sea. If you are absolutely driven to make money, you probably will make it one way or another, but it requires a lot of hard work.

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