00:00:10another edition of ask Evan in today’s
00:00:13video I’m going to answer a question for
00:00:14one of our readers Joey who asks hey
00:00:17Evan I want to know your opinion on
00:00:19penny auction sites I know this business
00:00:21model is quite big in the US and Europe
00:00:23do you think it will work in Asia Joey
00:00:26so Joey I’m going to give you an answer
00:00:30that maybe is not what you want to hear
00:00:31but I’ve never been a big fan of
00:00:33businesses that are just trying to make
00:00:35a quick buck I’ve always tried to
00:00:37encourage entrepreneurs and follow
00:00:38something they’re really passionate
00:00:39about and something that they can add a
00:00:41lot of value to and help people up with
00:00:43because those are the businesses that
00:00:44you’re going to have long-term success
00:00:45with a lot of entrepreneurs start a
00:00:48business try to make you know quick bot
00:00:50trying to get rich quick and usually the
00:00:52exact opposite happens and is the reason
00:00:54why most businesses fail a lot of this
00:00:56cuz they’re they’re chasing you know
00:00:58that quick money and they’re not
00:00:59actually doing something that adds a lot
00:01:00of value so if you’re thinking long-term
00:01:03value that you can add you’re going to
00:01:05be compensated in proportion to how much
00:01:07value and how much help you can give to
00:01:09your target customers so I would try to
00:01:12encourage you to look at something
00:01:13you’re super passionate about something
00:01:15you think you can really help people out
00:01:17and it could still be in the online
00:01:18space and try to focus all your energies
00:01:21on that as much as you can and is useful
00:01:23and helpful as possible and from there
00:01:26you’ll be able to develop your business
00:01:27model and at the end of they make a lot
00:01:29of money instead of trying to you know
00:01:31chase that quick buck if you look at the
00:01:33famous entrepreneur profiles that we’ve
00:01:34had all across our site almost all of
00:01:37them started because they had a strong
00:01:39intense passion to you know make that
00:01:42industry better than it was before you
00:01:44never see them starting off saying i won
00:01:47i want to get rich and usually when you
00:01:49you know try to get rich it doesn’t
00:01:51happen but if you try to add a lot of
00:01:52value then you’ll get all the riches
00:01:54that you’re you’re after so maybe not
00:01:56the answer you’re looking for but i hope
00:01:58that gives you some perspective if you
00:01:59guys liked the video please give it a
00:02:01thumbs up below I’d also love to hear
00:02:03thoughts if you want to leave
00:02:04comment and stay tuned for the next
00:02:06episode
00:02:13you
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