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Business Week article examines questions you should ask yourself before deciding to turn a hobby into a business

Quote:But invariably, some enthusiasts have the proverbial eureka moment, becoming convinced that they have a million-dollar business idea on their hands. So how can you tell whether or not your particular passion has what it takes to make it out of your basement and into the big leagues?

Full Article:  http://www.businessweek.com/smallbiz/con...=rss_smlbz

Quote:many enthusiasts try to distinguish themselves through lower prices, but Rogers says that's one of the worst ways to compete, since it's almost impossible to maintain once the market grows saturated.

I'm all for competitors underpricing themselves out of business.  :twistedevil:

[quote author=valleygirl link=topic=626.msg6830#msg6830 date=1135906909]

Quote:many enthusiasts try to distinguish themselves through lower prices, but Rogers says that's one of the worst ways to compete, since it's almost impossible to maintain once the market grows saturated.

I'm all for competitors underpricing themselves out of business.  :twistedevil:
[/quote]

You should start selling on ebay then...lots of people who underprice themselves out of business on a daily basis.  There are the people who engage in pricing wars to offer the lowest prices until selling prices drop way below the break even point, and then there are the people who list items at $0.01 expecting a bidding war and are shocked when their item sells for only $0.01 with 1 bid.