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For Love or Money?

Don't start a business until you've answered this question.

By Karen E. Spaeder • May 5, 2006 Originally published Apr 4, 2002

Opinions expressed by Entrepreneur contributors are their own.

There are two different kinds of entrepreneurs in this world:those who start a business to do what they love, and those whostart a business to make money. There is, of course, some overlaphere--those who start a business based on their hobby or passiongenerally want to make a decent buck, and those who start abusiness based on profit potential want to enjoy what they'redoing. But there's no doubt about it: The ones who base theirbusinesses on their passion are generally not in thisentrepreneurial game for the money.

This brings us to a key question you need to ask yourself as youprepare to start a business: Are you doing it for love or money?Your answer to this question will help you determine how to proceedwith your business. If your answer is "love," and youknow you'd like nothing more than to earn some extra cash doingthe thing you do best, then starting your business will be slightlysimpler than venturing into a business where you're hoping tomake a million your first year.

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