Originally posted by Eugene Kononov:
Two economists are taking a walk. One says, "Look, there is a dollar on the ground". The other one replies, "It's a fake one, -- if it was real, somebody would have picked it up already." There are great many entrepreneurs in America, all looking for the highest profit for the lowest possible risk. They balance the ratios. Sure, there are some distortions here and there due to legal or regulatory restrictions, but overall, the playing field or reward/risk ratios is leveled across the different types of businesses. You may find a dollar on the ground, but you can't expect to make a decent living roaming around and searching for them.
For example, one type of business is daytrading. It's a great business, -- you have no employees, clients, or production facilities to run. What are your chances of survival? About 1 in 10. Compare that to a typical small business, -- a few disgruntled employees and a few hundred customers some of whom are suing you in court. Chances of survival: about 2 in 3.
So, what's the best business? It's the one where your passion is, not where you think the money is. Any business will do, -- just run it better than your competitors.