Not focusing on one’s strengths is probably a very common mistake most newbie entrepreneurs commit when choosing a new business to start. Doing so makes the business more challenging for them. They end up spending more time and effort in the new business which is likely to fail, as I have experienced first hand.
A couple of years ago, I started my first business venture which is a small Laundry
Detergent Manufacturing Business. This was in the year 2001, around the same time I was introduced to the book “Rich Dad Poor Dad”. Pumped up with the new found wisdom, that having your own business is the key to financial success, I set out to discover the best business to start.
The Laundry Detergent Business first came to mind when I visited a business and technology training center that offers various business and livelihood trainings. The Laundry Detergent Business Training popped out of their brochure probably because I saw right away the market potential of detergents. Households, Companies, Hospitals, Schools, Laundry shops… you can’t think of any house hold or business that doesn’t make use of detergents. It was a “widely accepted need” that I can offer at a much lower cost to consumers. I saw the MONEY and then decided to pursue this new business without much consideration to other factors.
So to make the long story short, after going through the challenges of production, deliveries and employee management for less than a year, and being demotivated by the high maintenance and low revenue, I just decided to just discontinue my first business venture.
I guess things could have been easier if I have some background in the manufacturing business, if I have been a chemist or someone who has worked for a company like Proctor and Gamble or Unilever. The detergent business isn’t just my thing, and not focusing on my strength ended with me choosing a business that’s doom to fail.
I remember while I was busy juggling my time between the business and my day-time job (and starting to think what have put my self in to this time), I was still getting a few Web Development projects on the side. And the funny thing about it is that I’ve been earning a lot more from this “side-line” than my daytime job and my detergent business combined. And not to mention that I just do these projects a few hours at night and didn’t feel any stress in doing them at all.
Web Development is one of my core professional strengths and that I believe made the difference. It then dawned on me that if I’ve been getting better results by just putting in a few hours and very little attention to this “Strength”, how much more if I focus on it, develop it, and harness its potential in building a successful business. It was a wake up call that completely changed how I do business. I then decided to Focus on my Strength instead.
Twelve years moving forward, I now manage a profitable Web Development Business which not only builds websites for companies, but also grew in to a full outsourcing business that can pretty much handle everything and anything that an Internet Business needs to run its operations.
Focusing on your Strengths is not only important, it is rather an essential factor that every entrepreneur should consider in starting a new business. Focus on the things that you are good at. Put your talents in to use. Capitalize on your strengths and see your small venture grow in to a profitable worthwhile business.
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