Discover the Secret to Long-Term Business Success with Passion and Value

Hi, I'm Evan Carmichael, and welcome to another edition of #AskEvan. In today's video, I'm going to answer a question from one of my readers, Joey, who asks, "Hey Evan, I want to know your opinion on penny auction sites. I know this business model was quite big in the US and Europe. Do you think it will work in Asia?" Joey. So Joey, I'm gonna give you an answer that maybe is not what you want to hear, but I've never been a big fan of businesses that are just trying to make a quick buck. I've always tried to encourage entrepreneurs to follow something they're really passionate about and something that they can add a lot of value to and help people out with, because those are the businesses that you're gonna have long-term success with. A lot of entrepreneurs start a business trying to make, you know, a quick buck, trying to get rich quick, and usually the exact opposite happens. And there's a reason why most businesses fail. A lot of it is because they're chasing, you know, that quick money, and they're not actually doing something that adds a lot of value. So if you're thinking long-term value that you can add, you're going to be compensated in proportion to how much value and how much help you can give to your target customers. So I would try to encourage you to look at something you're super passionate about, something you think you can really help people out in. It could still be in the online space, and try to focus all your energies on that and add as much value as you can and be as useful and helpful as possible. And from there, you'll be able to develop your business model and at the end of the day make a lot of money, instead of trying to chase that quick buck. If you look at the famous entrepreneur profiles that we've had all across our site, almost all of them started because they had a strong intense passion to make that industry better than it was before. You never see them starting off saying, "I want to get rich." And usually when you try to get rich, it doesn't happen, but if you try to add a lot of value, then you'll get all the riches that you're after. So maybe not the answer you're looking for, but I hope that gives you some perspective. If you If you guys liked the video, please give it a thumbs up below. I'd also love to hear your thoughts if you want to leave a comment, and stay tuned for the next episode.