People who are “interested” in getting into their own business often ask me to keep a lookout for a “good business” for them. You know the kind of business that turns a good profit, with a good history and a bright future. This is an understandable request. You yourself may be looking for the same thing right now and, I can see why you would want it. Unfortunately unlike, Real Estate that virtually stays the same no matter who owns it, a business changes forever from day one of new ownership. The history of the business is just that…History!!
Why does one restaurant or dry cleaners or sandwich shop fail? When right down the street the same type of businesses selling the same products are growing and thriving. We see this everyday and still have a hard time grasping the obvious. I think it’s because the answer involves self responsibility. The truth is that there never has been or will be an honest, bad business, only bad management. The difference is always the way the place is run. The difference is the owner and leadership to the organization. When looking for the perfect business for yourself, I believe you should spend most of the time searching inside your head, before you venture to the business opportunities section of the newspaper.
Many people of my own generation have no idea that A&P food stores at one time were the largest retailer in America. They had over 15,000 store locations across the country. When asked about how they have fallen so far from grace an employee said it best when he said, “We just lost Mr. John”. Mr. John was the last of the family members to have a stake in the company. An owner or any true leader has more than an “interest” in the success of a business, this person has a Passion.
That passion instills a never say die attitude that permeates the entire organization. It feeds on itself and finds a way to get through the impossible times. How is it that a hard working immigrant who can hardly speak the language can flourish in this country, while many of us with all the advantages that we are born with, struggle to stay afloat. We all make bad decisions but the one we should never make is to get into a business because “the numbers look good”. The real question is do you have it inside you to make the numbers become good. Come hell or high water you will succeed. That attitude only comes when you are doing what you were born to do. That is the thing that keeps you up at night. It is called passion, and its good business.