in the early 2000s I was in the
automobile business I was working for a
fantastic company called autonation and
Lee Iacocca family friend of mine gave
me some really good advice he said if
you want to be really successful in
business you have to be a big fish while
I think you'll be successful in the car
business it's a very big pond so he
recommended that I got into the RV
business because he felt like it was
fragmented and it was ripe for
consolidation he was right I may not be
the biggest fish but I'm not the
smallest guppy I think the best way to
think about entering into the business
world and being a big fish in a small
pond is to really think about your local
trade area first I call it the basic
trade area that's the environment that
you live in or you want to do business
in and there's a given radius to it four
miles five miles if you want to get into
a business where you're going to be a
big fish then you should really study
that environment you should understand
what type of businesses exist there and
which ones don't and then once you make
the list of the ones that don't do a
little research and really understand is
that a business that I could learn do I
understand something about it and most
importantly am i passionate about it if
you're not passionate about it you don't
understand it I don't care how big a
fish you think you're going to be you're
going to get fried hey CNBC fans thanks
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