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Document #802


Description: Identifying your strengths and weaknesses

BEFORE YOU LAUNCH A BUSINESS at home, you need a clear understanding of
yourself, your capabilities and your limitations. You must know your strengths so you
can build on them, your weaknesses so you can shore them up.

Find out if you're a good home-business candidate by taking the following "test." There
are no right or wrong answers, of course; I just want you to do a little thinking about your
strengths and weaknesses. After you have answered the questions, ask a family member
or a close friend to answer them with you in mind. If there is disagreement, it could be
that you're trying to fool yourself, or you haven't let other people see the real you.

Yes    No

()     ()    I’m not afraid to make decisions, even though they may be wrong.

()     ()    I can take criticism and rejection.

()     ()    I enjoy taking charge of things and seeing them through to the end.

()     ()    I am an organized worker.

()     ()    I’m an independent, self-confident person.

()     ()    I get along well with most people.

()     ()    I like to work, and I’m willing to work hard for something I want,
             even if financial rewards are slow in coming.

()     ()    I am willing to do a lot of self-studying, research, and planning to
             make my home-business dream a reality.
As you may have guessed by now, the more "yes" answers you have, the more likely a
home-business candidate you are. Having a couple of "no" answers doesn't mean you
have to give up your business dream, but it could be a sign of trouble to come.

For instance, the person who is afraid to make decisions will certainly encounter
difficulty the first time a major business decision has to be made. The person who cannot
take criticism and rejection may crumble the first time a customer says "no" to a sales
pitch. People who are reluctant to take charge, or unwilling to accept responsibility,
should not subject themselves to the stress of managing a home business. On the other
hand, all of these problems might be overcome if one were to join forces with a partner
who did have these desired business qualities.

If you answered "no" to the questions about being organized, having confidence, or
getting along well with others, this is an indication that you would benefit from some
self-help books on these topics. With time and effort, anyone can learn the secrets of
organization, develop a greater degree of self-confidence, and improve working
relationships with other people.

I do hope you answered "yes" to the last two questions because a home business
definitely requires concentrated effort, time, and energy, to say nothing of the three P's:
Patience, Perseverance, and Planning. From experience, I can assure you that your home
business, whatever its kind or nature, will take twice the amount of time and energy of
any salaried job you may have held in the past; and, unless you are extremely lucky, it
will also take longer than you think to make a profit from your endeavor. Therefore, be
patient in your financial success expectations.

Allow at least two years, and as many as five, depending on your type of business, the
time, energy, and money you give it, and the skills and experience you bring to it.

Above all, remember that a successful home business requires PLANNING in detail and
on paper. "People don't plan to fail," goes an old saying, "they fail to plan." Trying to
build a business without any kind of plan is like riding an exercise bike: You do a lot of
pedaling, but you don't get anywhere.

An excerpt from the 5th edition of HOMEMADE MONEY How to Select, Start,
Manage, Market and Multiply the Profits of a Business at Home by Barbara Brabec
(Betterway). 1994 by Barbara Brabec. Reprinted by permission.

Author: Barbara Brabec

Source: Homemade Money

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