Success at home-based business is dependent on many factors including:
– specific skills
– specialized knowledge
– an efficient and functional work space
– structures and processes
– ongoing learning
– a strong support team and mastermind group
– a genuine interest and love for helping people
– a vision and a plan
All of these elements and many others play an integral role in your success, however, if you don’t have the following three core competencies, the above elements alone will not guarantee long-term success and fulfillment from your business.
The three core competencies you must possess are:
The absence of any one of these three competencies will create struggle, overwhelm, confusion, frustration, fear, procrastination and eventual failure in your quest to build a profitable, reputable, enduring home-based business.
Discipline – The ultimate test of this competency is created when you transition from the corporate or “outside” work world to operating independently from the comfort of your own home.
The exhilarating rush of freedom and permission to make your own decisions on your own terms can so easily consume you that you don’t initially realize you’re allowing yourself to become distracted and deterred by the activities of daily life.
Accepting personal phone calls and visits during work hours, taking extended breaks, accepting invitations to go shopping or for lunch may be regarded as rewards or treats to yourself for your accomplishments, however, it’s important to maintain strict rules of conduct, business hours and a professional mindset as you build your business.
Working from home creates an automatic feeling of comfort that can easily overlap into your business performance by nurturing a laissez-faire attitude. Working from home might also provide you with a continuous reminder of the laundry sitting in the hamper, the dust on the bookshelf and the dirty dishes by the sink.
If you’re contemplating starting a home-based business, honestly assess your level of self-discipline. Even if you regard yourself as highly disciplined, you will be put to the test on a daily basis, especially during your first couple of years.
Evaluate this competency in depth before quitting your job or investing serious time and money into a new business. No level of specialized expertise or creative genius will compensate for lack of discipline if you want to achieve business success.
Desire – How strong is your desire to not only run your own home-based business, but to work in the specialized niche you have chosen? If you’re in it for the money, this is rarely enough to carry you through the hard times, challenges and setbacks that are a natural part of business life.
Desire fuels your energy and keeps you going when everything else around you seems to come to a grinding halt. Desire keeps your spirits up and keeps you motivated and willing to be and act in ways that may at first seem uncomfortable or unnatural.
Desire will give you strength and persistence when naysayers try to sabotage your efforts or undermine your actions. It will also help you seek out creative solutions to unusual challenges, give you courage when situations warrant, and an unwavering determination as you travel through areas of discomfort and unfamiliarity.
Without this core competency, it will be very difficult to get through the hard times with a positive outlook and the resolve to press on. Make sure you have a strong desire to succeed at the particular business and niche you have chosen. At times it may be the one thing that keeps you going.
Belief – How strongly do you believe in yourself, your business and your right to succeed, enjoy wealth, have beautiful things and be happy? Your mind is your most powerful asset, yet can be your most powerful adversary.
Your beliefs alone can make or break your success in life and business, and you would be amazed by how many intelligent, gifted, creative, dynamic people fail because they don’t believe in themselves.
Self-limiting beliefs and negative self-talk can be the poison that kills your dream, so it’s important to look inward and take an inventory of your beliefs in the areas of your personal rights (what you’re entitled to), money, relationships, your role as a mother, father, son, daughter, life partner, human being, entrepreneur, etc.
Many home-based business owners fail because they are continuously measuring themselves against others, focusing on their personal limitations, kicking themselves for not having all the answers or for not being perfect.
Some have a subconscious belief they don’t deserve success or put a limit on what they think they’re entitled to, so they unknowingly sabotage their own efforts keeping success at arm’s length.
Can you see how no amount of specialized skill; the perfect workspace, structures or processes will be enough if you don’t have the discipline, desire or belief to support the entire process?
As you contemplate starting your own business or if you’re having difficulty bringing your business to the next phase of growth, assess your levels in these three core competencies and determine their impact on your decisions and actions.
Are you willing to make a shift where needed to produce the results you seek?
Might a lower level in or non-existence of one of the competencies indicate the need to perhaps change direction or look at alternate options?
A lower level doesn’t indicate a deficiency on your part, but may provide a clue that you need to look in a different direction or to open yourself to options you may have never considered.
Conduct this self-evaluation not to judge yourself, but to provide a benchmark or a compass that will guide your decisions in a direction that will give you real happiness and genuine success.