The Risk of Chasing the Next Big Business Trend
In this reaction, Matt breaks down why following the latest trend may not always be the best path for entrepreneurs. While the advice to chase what’s “hot” like AI might sound appealing, the real key to success is aligning your business with what you are passionate about and good at. If your strengths lie in industries that are less trendy but you can bring a fresh perspective or unique value, that’s where you should focus. Don’t just follow the crowd—find what excites you and build a business around that.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
Here’s the most common mistake I see young entrepreneurs make. Think of it this way, there’s a piece of cheese and all the entrepreneurs are mice and they’re all scurrying around and they go after that piece of cheese and then tomorrow there’s a piece of cheese over here and everybody goes this way. Don’t get into a business that everybody else is getting into. Get into a business that’s going to be the next wave. AI. AI is still super hot. Get into that. You’ve gotta know where the puck is going to go.
Matt’s Review:
Yeah, I don’t know if I totally agree with this. Actually, I could say I don’t totally agree with this. I think if your strengths and ambition and passion lie in an area where everyone is not going or it’s not the next hot thing, or a lot of people already are, but you have a better angle on it, a better handle on it, you’re more committed to it, then that’s where you should go. If you’re good at construction, even though construction’s not hot. If you’re the best builder out there and you can do amazing things, then you should go get into construction. If you’re good in AI, you like tech, you’ve been following that, you’re ahead of the curve, you know where the opportunities are, then great, get into AI. But going where everyone else is going ’cause that’s the next hot thing seems to me exactly what he just said don’t do. So I would say, look at what you’re good at, look at what you enjoy doing, look at what you really can add value to and gets you excited. And go there. Do that. That’s the place to look around for businesses to start, not just where everybody else is going to go or what the next big thing is.
