| The best answer to the unemployment problem lies | | | | say differentiation, we mean uniqueness. You have to |
| within us. Instead of blaming the government for the | | | | be sure that your business is something different from |
| current state of the economy, we can actually initiate | | | | the competition, so that people will have reason to |
| solutions by ourselves. The solution is called | | | | choose you over the others. If your business is just like |
| entrepreneurship, that is, starting your own business. | | | | everybody else's, then your target market will be the |
| However, there are three major factors to consider | | | | proverbial donkey that is torn between two identical |
| before getting starting a business, and here they are. | | | | stacks of hay. |
| The first major factor is whether you have a passion | | | | For example, coffee shops are everywhere. If you |
| in the field you're getting into. You must have genuine | | | | have a passion for coffee, do not just open a regular |
| interest in the prospective business, or risk an early | | | | coffee shop with a very predictable menu. Experiment |
| death for the venture simply because you will | | | | with exotic ingredients until you find a coffee recipe |
| eventually, inevitably get bored of it. Find something | | | | that is so unique and delicious, that people will kill each |
| that you love to do, and then start figuring out how to | | | | other just to have a cup. |
| make money out of it. | | | | The third major factor is scale. Determine how large |
| For example, suppose you love knitting sweaters. | | | | your business will be at the onset. Sometimes, starting |
| Knitting sweaters, however, is quite tedious, and | | | | small is preferable because it minimizes financial risk. |
| making money just by knitting sweaters one by one is | | | | However, some business should start big for them to |
| impractical. However, if you know that you have had | | | | be practical, especially those ones which give very |
| much experience at knitting sweaters, you can write | | | | marginal profit. |
| instruction manuals or create new designs for | | | | This is entirely dependent on your field of choice, so |
| sweaters so that other prospective knitting enthusiasts | | | | think about it very hard. It is everyone's aim to succeed |
| can learn from you. | | | | in business, and to do that, you need these three. |
| The second major factor is differentiation. When we | | | | |