Jean L. Serio

While you may be champing at the bit to leave your unchallenging or go-nowhere job to start up your own business - or simply thinking about it -- it's essential to consider more than just the business you'd like to start. Before you jump into the fray it's priority one to consider the following:

1. Your Strengths

As always, it takes more than a good business idea and plan to create success. Before deciding on a business start up, it should be priority one to consider your personal strengths. First, doing this will considerably narrow down the types you're more qualified for, or capable of running; excluding those you aren't, or have no interest in.

Once you determine where your strengths lie, you're better able to decide what type of business you're not only capable of starting up and running, but which you'll enjoy running on a daily basis. In fact, before such companies as McDonald's sell you a franchise, they not only want your work history, but to know what your strengths are. It helps determine whether the business is a good fit for you as well as them. Remember, they want you to succeed.

Second, though this is a simple, yet essential process, it's often overlooked or ignored by those eager to start up a business. Yet doing it helps give you a greater opportunity to succeed.

For example: Considering a retail business where regular contact with customers is required, and/or making sales? If you're a friendly person able to casually approach customers and confident enough to close sales, you'll enjoy your work. If your strengths lie in behind the scenes work like developing marketing plans, purchasing, inventory control, for example, you'll look forward to coming to work and enjoy it's challenges. Be very clear about your strengths. Why wind up unhappy and exhausted in a situation which isn't a good fit for your strengths?

2. Your Weaknesses

Consider anything, and everything, which might negatively impact a business you'd like to start.

For example: Do you like sleeping late, working limited hours, not traveling more than XX miles to work? Stressful situations irritate you or make you angry. You have medical problems which can affect your work. Or, do you have children to pick up from school or daycare regularly? An ill relative to care for. Don't "do" bookkeeping or paper work. Have none or limited computer or other necessary skills. Don't like a challenges?

Many of these scenarios can - and will - negatively impact a business if not considered before starting up. For example, if you like sleeping late, and open your business late, depending on the type it's likely you'll have a hard time building a solid customer base. This is generally true with a retail biz - unless it's so unique hours open don't matter. If keeping up with your competition matters, you'll need to have a similar open and closed schedule. Because customers will go from one competitor to another to find what they need at a price they can afford. Opening late and closing early can bring about the same problems when you must drop off and pick up kids from daycare or school, or leave to care for an ill relative.

If any of these, or other, scenarios affect you, you'll need the financial ability to hire employees to work when you can't. Or figure out a workable system before opening your business, so all your bases are covered at all times. It's a fact. Many people leave good jobs, to start a business. Partly because of the need for unique work hours or to compensate for other personal situations. Keep your personal needs at the top of your list when deciding on a start-up. Don't let them become a problem.

Something else, which could be considered a weakness is being unable to deal with repetitive chores or what's called "busy work". For instance, banking, picking up or dropping off mail, bookkeeping, taking out the trash, packing or unpacking shipments. For many, these aren't difficult things, just dull or unchallenging. If you don't enjoy or appreciate them as small, yet integral, parts of your business, they'll quickly become tiresome and negative. Piling up with avoidance. Possibly creating financial problems. When considering strengths and weaknesses, always bear in mind the type of business you'd like to start. With some, what could be considered a weakness is actually a strength.

On the other hand...

People have started businesses or purchased franchises for which they had little or no experience, or were considered unsuited. Yet they've perservered to overcome these to grow and succeed. But - and this is a big but - bear in mind when you start off burdened with what are considered weakness, which can create problems, you'll struggle longer - perhaps become discouraged faster - than someone with the strengths needed to start up and run the same business. If this is your first start up, you'll need to be focused and strong enough to wade through the many details required to launch your biz.

Start your assessment now:

Take a pad and draw a line down the center. Label one side "Strengths", the other "Weaknesses". Write down your skills, experience and qualities on the strengths side; things you prefer not to do or incapable of doing on the weakness side. Also include such things as temperament, whether you like to work or sleep late, are an early riser prefering to work very early, for example. If you take the time to write down a comprehensive list of both your strengths and weaknesses, you'll be better prepared to determine what type of business best fits your strengths and weaknesses. And, in the long run, much more likely to succeed.

Jean L. Serio, the Women's Start-Up Biz Expert, Copyright 2007. If you're one of the 1.2 million women tired of the 9-5 grind, sick of worrying about making ends meet, starting your own business still remains one of the best strategies for providing you financial freedom. Discover how to start a business today with your own simple, step-by-step Action Plan, plus tons of valuable free resources. To ensure you receive the details, sign up for your Free "Women Start Up a Biz" Ezine. And receive your Bonus Report, "5 Mistakes Women Make Starting Up a Business". Go to: http://www.womensmarketingandbusinessnetwork.com