Starting A Fad Business

How to work the short-term concept.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Before you start a business, you have to look at what the potential is, what your product or service is, and if there is a lot of opportunity to make a good deal of money over the long run. Or is it a "hit-and-run" product, where you're going to get in, make a lot of money, and then get out? That's not necessarily a bad thing; fads have made some entrepreneurs incredibly successful. But remember, once you're in business, one of the hardest things to do is to know when it's time to get out, to let go. And if you guess wrong, if you try to make a classic out of a fad, you are going to start losing all the money you have earned. And no one wants to do that.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur