I almost made a huge mistake last week that could have killed my consulting business before it even got off the ground. I was so in love with a specific market – one that felt perfectly aligned with my passion and identity – that I was willing to ignore every red flag screaming at me that it wasn't ready yet. The problem? When you're emotionally invested in making something work, you become dangerously good at rationalizing why obvious warning signs don't matter. You'll emphasize every tiny positive signal while minimizing the glaring negatives, all because you want it to work so badly. But here's what I learned from my mentor that changed everything: sometimes the market you love most is the one that will bankrupt you fastest. In this episode, I'll share the counterintuitive advice that saved my business and show you how to pursue your passion market without letting bias destroy your judgment.
Show Notes:
- Why being "too in love" with your target market can be more dangerous than having no passion at all
- The devastating bias trap that makes smart consultants rationalize away obvious market warning signs
- When to pull back from your dream market to build financial stability (and how to return to it later)
- The "too early" advantage: How to position yourself ahead of the curve without going broke in the process
- Why small passionate markets can kill your business faster than boring big markets
- The three-option framework for when your favorite market isn't viable yet
- How to expand a small market's scope by identifying profitable adjacent opportunities
- The risk management strategy that lets you pursue passion projects while paying the bills
- Why every market has multiple viable "Y" solutions – and how to find the profitable ones