The Secrets of Making Certain the Business is the Right One for You

How do you know if you have started the right type of business for you and that you will
remain committed to it in the long-term?

It’s kind of like choosing a donut. If all you really want to eat is a simple glazed donut,
would you be happy with a frosted donut covered with sprinkles? Sometimes, the
simpler the better.

Many people start businesses not because they are passionate about it, but because
they fall into it. It may have been inherited from their family, or an opportunity to
purchase an existing business was too good to pass up. Often, business owners are not
passionate about these businesses, and merely fall into them without thinking about the
long-term demands on their family time, finances and how the industry they are in will
change.

A good example of this type of business owner is a donut shop owner, who thinks that
cooking is easy and everyone loves donuts, because everyone has to eat breakfast. But
the business owner may have little to no experience with owning and running a
restaurant, and becomes quickly overwhelmed by the pressures of selling more than
just donuts, baking donuts at 3:00 a.m. every morning, paying suppliers, and managing
staff, and everything else involved with running a donut shop.

Before you jump into any business venture, ask yourself these questions:
● Does it match your experience?
● Does it match your education or are you will to get the necessary education or
certification to be successful at it?
● Do you have the personality of an entrepreneur?
● Do you like change and are comfortable with uncertainty?

Business owners can also be grouped into two general categories where their strengths
are obvious for the long-term success and growth of the business:
● The Order Fulfillment Personality — This is the personality where the business
owner fulfills the order. The order can be anything. It could be the widget you sell
to the service you provide like performing a tax audit. There is something needed
and a service is provided with a specific outcome. These personalities tend to
like order, control and predictability.
● The Order Acquisition Personality — This is the personality like likes to hunt for
new business and bring it back for others to solve. These folks tend to be great at
sales, and are great at building something successful but become easily
distracted when they need to maintain and keep the business going. The thrill is
in making the sale and starting something new.
When you own a business, you will have a combination of the Order Fulfillment and
Order Acquisition personalities, though one will be more prominent than the other.

For me, I tend to have a stronger Order Fulfillment personality given my tax and
accounting background, and the years I spent in corporate America where there was a
well-defined, predictable career path.

It is extremely important to leverage your innate talents, rather than trying to overcome
your weaknesses. When it comes to small business accounting, the field is so complex
that it is extremely challenge for an order fulfillment person to keep up with the changes.

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