Start something you are familiar!

By Matthew Kwan, Principal Consultant, Adams Company Limited.
Copyright (c) 2009

Financial Tsunami is sweeping the economy with so much terrible effects. A lot of people especially those who are in middle management have become the victims of the downturn. I personally know a number of people already looking for jobs and opportunities.

It is an increasing trend people would consider startup their own business. However, my personal recommendation is to do only something you are familiar with in order to minimize your chance of failure. According to “Good to Great” by Jim Collins, you should focus your effort on things you are passionate with economy effect and something you can do better than others.

Though finding the sweetspot is difficult and this should always a strategy we should bear in mind when we plan out our business.