Here is an article written by Donna Fenn for BNET, The CBS Interactive Business Network. To check out an abundance of valuable resources and obtain a free subscription to one or more of the BNET newsletters, please click here.
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Welcome to the first installment of BNET’s Startup Tip of the Week. Who better to kick it off than Tony Hsieh, bestselling author of Delivering Happiness and the CEO of Zappos, which he sold to Amazon in 2009 for $1.2 billion in stock.
“Sometimes, especially at entrepreneur conferences, I get approached by someone who asks me, ‘What’s a good market to get into, where I can make a lot of money?’
“My advice to them is, rather than have money be your primary motivator, think about what you would be so passionate about doing that you’d be happy doing it for 10 years, even if you never made any money from it, and that’s what you should be doing. By doing that, it will actually greatly increase your chances of making more money. Your passion is what’s going to get you through the tough times, and every business has its ups and downs. Your passion is going to be contagious, and rub off onto employees, and have a ripple effect on customers and business partners as well.”
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Donna Fenn is the author of Upstarts: How Gen Y Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit From Their Success and Alpha Dogs: How Your Small Business Can Become a Leader of the Pack. She has more than twenty years experience writing about entrepreneurship and small business trends as a contributing editor at Inc. magazine, an expert on Business.com, and a featured expert on SBTV.com. From 1988 to 1992, she lived in Riyadh, Saudi Arabia, where she was a correspondent for The Associated Press and covered business, culture, the economy, and the Gulf War.