I know it’s a bold claim, but this secret carries across all industries and niches.
Whether you’re starting a home business in sales, graphic design, writing, fitness, marketing, or basket-weaving, this secret will give you the best chance of success.
This secret will enable you to make MORE MONEY— and to make it MORE EASILY.
The #1 MISTAKE When Creating a Successful Home Business
The #1 secret to creating a successful home business is found in the #1 mistake new entrepreneurs make.
Newbie entrepreneurs often make the mistake of focusing on the dollars. Their main goal is to make as much money as possible and do it as quickly as possible. So, they start looking at ways other people have made a lot of money fast.
They do Google searches for things like "how to make money from home" or "fastest way to make money online" or "home based business opportunities".
Inevitably, they stumble upon things like real estate investing, affiliate marketing, e-commerce, network marketing, and so on-- all of which really do offer excellent opportunities to make money relatively quickly (especially when compared to more traditional pursuits).
However, when newbie entrepreneurs choose a career path based on someone else’s success, they usually fail.
Because they did not take into account their individual interests and their personal strengths.
In other words...
It doesn't matter how successful "Guru X" is in his or her business. If you're not aligned with the core tasks that MUST be done in order to get results in that type of business, you're highly unlikely to duplicate the results of Guru X.
And don't get it twisted... I did the same thing when I first started, so I'm not throwing stones. I'm speaking from personal experience when I say that to only focus on the money, is to not realize the FACT that regardless the endeavor, you will HAVE to put in work.
So, since you HAVE to put in work (and since success will be a process, and not and event), then the smarter play is to choose something that you're ACTUALLY interested in.
The #1 Secret to Creating a Successful Home Business
Therefore, the secret to creating a successful home business is to first analyze yourself.
The secret is to not look at what others are doing until you identify key characteristics about yourself. Once you identify these characteristics, then you should look at what other successful people with those same characteristics are doing.
The characteristics you need to identify are:
Now, there’s a good chance that you enjoy doing several different things and that you are naturally good at at least a few things.
So, you should start by making a list of what you enjoy and what you’re good at. Then, you can find the sweet spot.
That sweet spot is where your success lies.
Grab a pen and paper, open a Google sheet, or whatever note-taking method you prefer. In one column, list everything you enjoy. In the next column, list everything you are naturally good at.
Start with everything you enjoy. And I do mean everything-- not just “work” things!
If you like to read, put it on the list. If you enjoy hiking, put it on the list. If you enjoy hosting parties, cooking, meeting new people, discovering new places, building things, making spreadsheets, solving puzzles, wearing fancy clothes... put it on the list!
Put it on the list alongside other things you enjoy, like working from home, working on a team, and so on and so on.
Next, list everything you’re naturally good at. Whatever comes easy to you.
Are you good at motivating people? Do friends come to you for advice? Are you good at small talk? Are you good at writing? Do people compliment your design sense? Are you handy? Are you good at organizing? Are you good at completing repetitive, mundane tasks?
Whatever you can answer yes to, add it to the list!
Once you’ve completed your lists, you can compare the two to find your sweet spot.
The sweet spot is where what you enjoy doing meets what you are naturally good at doing. Endeavors that live in the sweet spot are what you should be doing!
For instance, I enjoy being on stage, dancing, teaching, traveling, and helping others and I’m naturally good at entertaining & edutaining crowds, encouraging others, and I have a lot of natural energy.
Now imagine that instead of considering those key characteristics about myself, I only considered how to make money fast. What do you think I would do?
Well, I can tell you what I would do because I already made that mistake—the #1 mistake I warned you about.
When I was a newbie entrepreneur, I spent $4,000 to go to a real estate investing conference. I knew there was a lot of money to be made in real estate and figured if they could do it, I could do it too.
Long story short, I was a real estate investor for a total of 4 days. Okay, I guess that is a short story short.
But let me tell you the moment I should’ve known my career as a real estate investor was doomed. It was when the instructor asked me, “What area of real estate are you interested in?”
You see, the particular real estate seminar I was attending had multiple paths students could choose from.
If we were handy and enjoyed rehabbing, then we could could choose the "fixing and flipping" path. If we were better at the mundane drudgery of going to courthouses and searching for properties with liens against them, we could go down the "make money from properties with tax liens" path.
The problem was that literally none of the half-dozen or so paths I was presented with jived with what I enjoyed, or capitalized on my natural skills.
So when my instructor asked me what area of real estate I was interested in...
And my response was, "Whatever will make me the most money the fastest because I'm broke."...
It should come as no surprise that he didn’t waste much more time on me. As a successful entrepreneur in his field, he already realized real estate wasn’t for me.
And he was right.
I quickly realized that my enjoyment and my strengths did not align with real estate. It didn’t excite me. It couldn’t keep my attention… not even for a week!
But even though I wasted $4,000 chasing after someone else’s success, it wasn’t a complete loss. I realized I needed to take a hard look at myself. At what I enjoy. At what I am good at.
Clearly, that hard look at myself led to me becoming the world’s best event emcee and a success coach for entrepreneurially-minded people. And that makes sense, right? After all, look at my list of my key characteristics again:
I enjoy being on stage, dancing, teaching, traveling, and helping others and I’m naturally good at entertaining & edutaining crowds, encouraging others, and I have a lot of natural energy.
Do you see where my enjoyment and natural abilities come together and point to doing what I do now—the job I love, the job I thrive at?
You can make a living doing what you love, too.
Your most successful home business lies in your sweet spot. And, the more that what you enjoy lines up with what you are good at, the sweeter that spot will be.
Do you love writing? Then why are you pursuing real estate investing?
Are you naturally good on camera? Then why are trying to make money building websites for people?
Are you an introvert who enjoys being alone and dealing with research and spreadsheets? Then why did you join that network marketing company where they insist on you walking up to strangers and holding house parties?
If your answer to any of these questions is, "because I saw So and So make money with the thing I'm not interested in" or, "because I think that the thing that doesn't play to my strengths will make money faster"...
Then throw those answers in the trash now.
Instead, take the time to make your two lists, and then connect all the characteristics that could work well together. Then, and only then, start identifying career options that lie in your sweet spot.
That is the secret to creating a successful home business!
To help you lay the foundation of your success, I have created a completely free 7-day challenge to show you how to stop playing small and step into who you are meant to be.
Let me help you avoid the mistakes others have made (including myself) and help give you a jumpstart to success.
Read Next: The Goal is NEVER the Goal