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Home Business Entrepreneurs: $120,000 Hindsight. Part 4 of 8

Mar 27, 2008
Are all home business entrepreneurs the same? During the course of my research the difference between each prospective entrepreneur became more and more noticeable. One person would make 50,000 GBP and another would lose 5,000 GBP with exactly the SAME opportunity.

If you talked with the successful person they would be delighted and full of praise for the business system. Yet the failed individual would usually be bitter and full of recrimination - about the same system.

Possibly The Single Biggest Obstacle

This observation, and after talking with hundreds of prospects, convinced me the main difficulty for the average home business entrepreneur is likely to be the person in charge. Themselves. Who wants to hear that?

The solution is also NOT the obvious one.

The straightforward solution seems to be to model the patterns and behaviour of successful entrepreneurs. There is some validity to this argument, but hands-on experience came up with a far more important aspect.

The Hidden Reason

Something I believe to be a major - if not THE major - player in this game is temperament or unlearnt tendency. I made the connection after listening to a young millionaire marketer. I realised that what he was using to increase his sales massively, would also be a hidden reason for success or failure for any home business entrepreneur.

This was a revelation and the more this was explored the more it became an unpleasant reality. Unpleasant because people are born and die with their own temperament. And as such all the self-help books and guides that are written can NEVER, ever, be used the same by people with different temperaments.

An Unprofitable Truth

I knew instantly that this was a massive obstacle. And also that it was not something people want to hear - or for that matter buy. Also there is no doubt success will be easier for some temperament types than others. However if we are aware of these traits then we can do something about them. In particular by acknowledging and compensating for our weaknesses. We then dramatically alter our chances of seeing success.

Luckily every temperament has a set of characteristics that are suited to at least one of the recognised business categories.

Reality Bites

I believe it is worth any prospective home business entrepreneur taking the time to assess themselves - their ability, their weaknesses and strengths.

Aside from temperament there is each individual's experience, expertise, specific talents or skills that every person has acquired. These may or may not be of benefit to one or more of the business models. The most important thing to consider is that you have a unique set of, and combination of, characteristics.

If you can assess the above impartially you will then be able to judge to which business category you are naturally suited. This is in my opinion the single most useful exercise you can do. And the very first exercise you should do. It could save you a fortune.

To paraphrase JFK:

'Ask not what a home business can do for you - rather what can you do for a home business?'
About the Author
Charles Challis is the managing director of Applied Serendipity Ltd. He has spent the last 3 years and over $120,000/66,000 GBP researching and testing home businesses. The company website: http://www.home-business-consultant.com is a must-read for prospective home business entrepreneurs. Visit http://www.home-business-consultant.com to save your time and money.
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