the difference between a project and a business

On average I probably come up with about two business ideas per day. Usually both of them suck – something crazy like gloves to protect your hands while eating ice cream. But every so often, maybe once every three weeks, I come up with an idea that actually could make some good money. But just making money once is not really a business – it is a project. A business continually makes money into the foreseeable future.

Most of my friends who approach me for advice on web business ideas actually have web projects in mind. Websites which, if successful, would make money for at least a short period of time, but have no real opportunity for continued expansion or growth.

Some entrepreneurs argue that you shouldn't worry about tomorrow's dinner when your starving today – growth strategy isn't important, as you'll figure it out when you get there. I disagree with those entrepreneurs; as lack of solid growth prospects provides a disincentive to follow through with a business ideas. Furthermore, you have a finite amount of resources; allocating some of those resources to a project which you know won't have a long term pay-out isn't necessarily the most efficient way to allocate your most scarce resource (time).