Know your strength, and weaknesses before engaging in a business.

[Natalim]

High pressures and stress are part of running a business, so if you are totally weak and have no capacity to make a business work, then you should not be making decisions that will link to entering business. It will only be a waste of money, time and energy on your part.

Instead, know your strengths and capacities first before going into business, as well as identify your weakness as it can be one of your future strengths when the time comes the market will require it.

Having business does not require perfection, but the challenge here is to focus and maximize your strengths and turn your weakness as your motivation to keep going and improving the kind of business you have.

[lombok]

High pressures and stress are part of running a business, so if you are totally weak and have no capacity to make a business work, then you should not be making decisions that will link to entering business. It will only be a waste of money, time and energy on your part.

Instead, know your strengths and capacities first before going into business, as well as identify your weakness as it can be one of your future strengths when the time comes the market will require it.

Having business does not require perfection, but the challenge here is to focus and maximize your strengths and turn your weakness as your motivation to keep going and improving the kind of business you have.

Indeed, the whirlwind of stress is a part of the life of every entrepreneur on a day to day basis. Not being able to withstand the impact of economic crisis results in quick destruction of the initial resources, thus making the dream of financial independence transform into disappointment in the competition.

Before doing anything else, it is critical to evaluate one resilience. Developing all the positive qualities, at the same time fixing all the gaps, contributes to creating the basis of an effective leader and provokes the desire for self improvement in a difficult situation.

[Zaka1221]

Many businesses are failing today, not because reasonable amount of money was not invested, not even because they are not located in a good site, but they lack the strength that will make such business a successful one.

For business to be successful, money is not the only thing that is required. A person might have good amount of capital and also choose a good location for their business but if they are not willing to give their 100% or they are not willing to put in all the time and don't know how to deal with customers, cannot handle losses and also adapt when things change or go wrong, the business still fails.

It is as important to know your limit as it is important to know your strength. Sometimes people become a part of a business simply because they see someone else doing the business and making money from it. They only see profit but they do not see the years of experience, stress and also the failures that they have to face behind the success. But it is also true and we should not assume that a person should have all the skills before starting any business.

Some skills can be learnt through years of experience but what matters the most is having to do things to learn to adapt and stay consistent when the business does not perform as expected. Both experience in business and right amount of capital and mindset are required for a business to survive in difficult times.

[Crypto_Timothy]

Many businesses are failing today, not because reasonable amount of money was not invested, not even because they are not located in a good site, but they lack the strength that will make such business a successful one.

Running a business is so much so easy to do when it's just talking but when it comes down actually running a business just like you said, alot of persons dnt have the mentality strength to withhold the stress that comes with running a business. I'm pretty such some persons here are probably looking at signature campaigns and thinking "Is it not just checking everyone's profile after 1 week and paying them if they complete X numbers of posts", well yes, but if you think it's that easy I think anyone is welcomed to try.

All I'm saying is, it is easier to talk when you haven't done and then to do, you must be mentality prepared for failure, absolutely no body wishes to fail but failing is  a genuine part of the process and you really can't rush the process, you only just postpone the inevitable.

[stadus]

I honestly believe that our weakness have no room in doing business. But it actually turned out that our weakness can be our biggest strength knowing it can uncover operational blind spots that could pave way for our business growth and success in the future.

And while you're at it, keep on working on your strengths as well because they will be your best drive and motivation, and easily recover from lapses and losses because youre strong enough and resilient.

[abhiseshakana]

Based on my personal experiences running export business and freight forwarding business for almost 23 years i agree that before start any business we must recognize our abilities and limitation especially when our small businees getting bigger and become real business. When a business evolves into an established system, the owner can no longer remain the sole driver of operations. So, we are required to know every single detail of the operation, so that we can create a system that makes it easier for us to exercise control.

As business owner, I make it a requirement for myself to be competent and qualified / expert in the business I manage, starting from regulations until operations. I don't need to do everything myself but I must understand everything, because delegation without understanding turns into dependency and the worst thing we can not detect fraud. As owner we become last problem solver. As an owner, it is unacceptable to say when a problem arises, I don't know, it was an employee's task. Because in the end employee handle the task and we as owner handle all consequences, by understanding every part, the owner knows exactly which thread to pull when a problem arises.

[#CapsLOck]

It's helpful to be aware of your weaknesses, but I believe the next step is to determine what to do about it  is it a weakness that should be stopped or managed? A business owner need not be adept at or skilled in all the jobs. For instance, you might have a strong background in sales. But weak bookkeeping skills. And as long as you have the right accounting software or accountant. It can help you handle that weak area of your business. It is important that you are honest about what you are not able to do and have a plan to do that. While being self-aware is helpful. It can be equally important to address your weaknesses as a system.

[Wind_FURY]

This is the importance of doing research first before starting, because by doing research you will know about what kind of business is feasible to run in the sense that it has good potential to be profitable and can also compete with competitors with similar types of businesses, by doing research you will also know about what things should be highlighted from your business, competitor weaknesses will be an advantage for you if you can see the opportunity.
Perseverance, accuracy, patience, management and consistency are also some of the factors that can drive success.

ALL the technical side like research, cash management, location, and all those won't matter. A person MUST FIRST KNOW if he has the side that you have already mentioned - Perseverance, patience, motivation. BUT I'm very confident that a person will not have them IF he/she doesn't have belief and the love for the business he/she is starting.

A person must feel challenged instead of feeling difficulty during hard times, and that only happens when you truly love what you're doing.

[Hewlet]

Many businesses are failing today, not because reasonable amount of money was not invested, not even because they are not located in a good site, but they lack the strength that will make such business a successful one.

If you are too conscious of the risk that is involved in any business, you might not be able to do a single business at all. Every business comes with a risk and as the founder. you don't have to allow all the pressure hit you alone. if there are areas you are not so strong in, you can get others to help you with those areas while you utilize your strength in other areas.

If you are the smartest person in your business team, it means that you are getting it all wrong. you might not be good at marketing like your marketing lead for your business to succeed, what you need more is that leadership ability that allows you to combine all the factors of production that are useful in the daily working of your business in ensuring maximum productivity.

[Die_empty]

Based on my personal experiences running export business and freight forwarding business for almost 23 years i agree that before start any business we must recognize our abilities and limitation especially when our small businees getting bigger and become real business. When a business evolves into an established system, the owner can no longer remain the sole driver of operations. So, we are required to know every single detail of the operation, so that we can create a system that makes it easier for us to exercise control.

As business owner, I make it a requirement for myself to be competent and qualified / expert in the business I manage, starting from regulations until operations. I don't need to do everything myself but I must understand everything, because delegation without understanding turns into dependency and the worst thing we can not detect fraud. As owner we become last problem solver. As an owner, it is unacceptable to say when a problem arises, I don't know, it was an employee's task. Because in the end employee handle the task and we as owner handle all consequences, by understanding every part, the owner knows exactly which thread to pull when a problem arises.

You have lots of experience in business, so I want you to check my thoughts to see if they are right.

First, I believe running a business is not for everybody. Entrepreneurs have some traits that must be in place for them to succeed. Some people are naturally impatient and cannot wait for the business to grow. My conclusion is that some people are designed to be employees instead of employers.

Second, the health condition of people would determine if they can run businesses. I have been involved in a farming business, and I know how my health was affected negatively. The risk and uncertainty that are involved in business can make people with high blood pressure suffer complications. Those whose health might not withstand the risks involved should stay out of self-employment. 

[Dunamisx]

Every person has their own capacity for what they can do. There is also an opportunity to improve one's ability over time. Before starting any Enterprise, we should try to make some feasibility studies to assess what are the things that needed to be in place before we start at all. This talks about the setup required and what other management practices we need to put in place before we stage our business; when we plan effectively in this manner, running the business will not be a hectic task ahead of us because the foundation is already made strong with adequate preparation.

[Pi-network314159]

Engaging oneself in a business is a good thing because is a medium through which one can grow, and make financial fortune. Also, it is important to know that the success of any business is not entirely determined by how much you have invested in that very business but your ability to withstand the pressure that comes from doing such business.

Yeah, I really agree with you. Ones success is not determined by the amount you invest but will solely depends on your ability to withstand what come your way and how you are able to handle it. This reason is why many people who venture into business where unable to succeed because they couldn't handle the sensitive part of the business which would have been morely focused but rather chose profit over deep learning and research.

One cannot be good in every business, therefore if you want to go into any business, you have to consider the things you should do or what that business requires to be successful, and know if you can be able to do it. Some persons will see someone running a successful business, and would like to venture into it without considering what is involved, those zeal that the business requires to be successful.

This is where many people fail to understand. Some people think that since Mr A can do it, that they can also do it and succeed without thinking if they have thesame zeal as Mr A. Everyone want to be successful but are not willing to pay the Price. Business grow when you have the zeal and you are able to identify error in your business and correct them as quick as possible. And you also need to be self deciplined and learn financial management. Sometimes you need to work on yourself before venturing into business. Because if you don't work on your weaknesses, it may still affect your business.
 

[bitLeap]

As a co-owner of a small computer and other equipment repair service, I can say that finding money for a business isn't that hard. Finding a location isn't hard either, but if you're not mentally strong enough to work with clients 8-10 hours a day and listen to all their complaints, it will be difficult to run a business. Business takes a lot out of your health.

Do you have to deal with complaints all the time? not really

If you really understand how to satisfy different consumers then there is no need to be a loyal listener to every complaint that arises. You say capital is easy? if it is true that capital is easy why in business concepts always put capital into the main foundation that must be obtained with difficulty and must be prepared thoroughly?
At least saying "finding money for a business isn't that hard" should be accompanied by a concrete explanation. Don't say easy based on your references but without explaining how to achieve it.

[Byebyebtc]

So it is very important to know what you can do, and what you can not do while choosing the kind of business you want to go into, and this will help in making your business a successful one.

On the contrary know what the business needs and you have to do it regardless of if you can or not, that's why people are trained so they can keep up with what a business demands. Of cause you don't expect one to abandon a business because he or she is can not do some certain things, you have to learn and adapt, business doesn't have favorites the ones that try so hard to meet up to demands regardless of weekness are the ones that will excel in that business.

If you notice your weakness, your next stem should be to go and train your self and turn that weakness to strength, attend to them one by one and go back to the business that's how life is...

[hyudien]

I've tried several times to build a business in the past, there is a total failure and some can only be said to only be able to return the capital alone, it is true to recognize the advantages and disadvantages of ourselves before building a particular business is another important thing of the many things that must be owned, in the end our ability to understand and run the business also determines the results.

[Obim34]

As a co-owner of a small computer and other equipment repair service, I can say that finding money for a business isn't that hard. Finding a location isn't hard either, but if you're not mentally strong enough to work with clients 8-10 hours a day and listen to all their complaints, it will be difficult to run a business. Business takes a lot out of your health.

You need to be squared all round, financially, mentally, strategically, and in some way experienced.

The best one can do before starting a business is to gain experience, in my part of the country, young men learn business, they spend nothing less than five years learning how to trade from a master, by the time they are done learning and free to stand on their own, they've not only gained experience but also raised money they can use to start up their own business.

I can say that finding money for a business isn't that hard

This is a strong line, money has always been the biggest challenge for starting up a business, and the reason some businesses close down.

[Somto9Light]

If you are too conscious of the risk that is involved in any business, you might not be able to do a single business at all. Every business comes with a risk and as the founder. you don't have to allow all the pressure hit you alone. if there are areas you are not so strong in, you can get others to help you with those areas while you utilize your strength in other areas.

Every business has its own risks but the ability to manage these risks effectively is whar makes a business owner to stand out. It is true that a business owner shouldn't allow all the pressure to hit on him alone but it depends on the size of the business that will determine if the business owner will need an extra hand to make the work easier for him. There are some small businesses that are very hectic, you can't employ an extra hand in such business since the proceeds are not enough to manage the business and pay a staff.

[Pablo-wood]

Every person has their own capacity for what they can do. There is also an opportunity to improve one's ability over time. Before starting any Enterprise, we should try to make some feasibility studies to assess what are the things that needed to be in place before we start at all. This talks about the setup required and what other management practices we need to put in place before we stage our business; when we plan effectively in this manner, running the business will not be a hectic task ahead of us because the foundation is already made strong with adequate preparation.

Beyond capacity and feasibility study it won't be out of place to spend time to learn a trade or business from those who have been in the field long enough to coach others. This tradition has been tested over the years and has proven to be effective. From the little experience I have gathered over the years I believe business is a skill like any other soft skill out there and should be learnt regardless of what area of business we intend to venture into.

It should be treated just the same way soft skills are treated where people spend months and years learning. It becomes easier when we understand for ourselves the hidden mechanisms behind running a business.

[hafiztalha]

I agree with you that a lot of business are failing because of poor management and in most cases, businesses don't just collapse simply because there wasn't enough funding but rather the more cases we see are that of poor management and that is why is it prefer to do what we love and love what we do and by so doing, we derive pleasure in doing our job and it then becomes easier for us.
I also agree with you that, it is always best that we do a proper review and assessment of the job and business we intend to do because I think this would safe us from investing wrongly and even if is always seems slow, it is still far better than "had I known"

I do not agree with your idea that if you have passion for something, then business becomes successful. Sometimes you do not have the required amount of skills, have no market demand, and have no financial planning but still you enjoy doing a particular work they do not have the discipline that is needed to run a business and turn the capital into profitable revenue.

A good business is not all about having passion for a particular thing or interest it is about the customers, the competition, cost and also about the cash flow. It is good to do proper research before investing in a business but sometimes doing the best research can also not able to remove all the uncertainty because the market changes on daily basis, suppliers fail to provide the material and customer demands can also drop at any time. Waiting for perfect assessment, it is better to start with a manageable Idea and learn from mistakes.

[Yeesha]

Engaging oneself in a business is a good thing because is a medium through which one can grow, and make financial fortune. Also, it is important to know that the success of any business is not entirely determined by how much you have invested in that very business but your ability to withstand the pressure that comes from doing such business.
One cannot be good in every business, therefore if you want to go into any business, you have to consider the things you should do or what that business requires to be successful, and know if you can be able to do it. Some persons will see someone running a successful business, and would like to venture into it without considering what is involved, those zeal that the business requires to be successful. For instance, some persons can withstand staying in a shop from morning till evening selling their products, but not everyone can do that. Some other persons might like the business of moving from one point to another. Also, in a business there are some people who have high risk tolerance, while some persons are afraid of taking risk in their business. So it is very important to know what you can do, and what you can not do while choosing the kind of business you want to go into, and this will help in making your business a successful one.

Many businesses are failing today, not because reasonable amount of money was not invested, not even because they are not located in a good site, but they lack the strength that will make such business a successful one.

Exactly, every business comes with difficulties. It is important to know exactly where you are heading to, know your abilities and capabilities. Knowing your strength and weaknesses is all about knowing your how strong you are to handle your business, and also know exactly what will be your problem in the future. Before starting a business you must be skillful, you must have sufficient funds that is enough to cover up the expenses of that particular business, to ensure the availability of all the required resources. And also you must know the quality that will lead to the progress of your business in order to be successful. Being confidence in yourself is important and don't be overflow with overconfidence, ask for help and support where it is necessary and improve the areas that need improvement.