Last Updated Apr 5, 2011 5:40 PM EDT
"Sometimes, especially at entrepreneur conferences, I get approached by someone who asks me, "What's a good market to get into, where I can make a lot of money?"
My advice to them is, rather than have money be your primary motivator, think about what you would be so passionate about doing that you'd be happy doing it for 10 years, even if you never made any money from it, and that's what you should be doing. By doing that, it will actually greatly increase your chances of making more money. Your passion is what's going to get you through the tough times, and every business has its ups and downs. Your passion is going to be contagious, and rub off onto employees, and have a ripple effect on customers and business partners as well."
On deck for next Friday's Startup Tip: Angie Hicks, CEO of Angie's List.