Here’s what that looks like using the model called the Four Stages of Competence:

1. Unconscious Incompetence — You don’t know what you don’t know. That’s when people get blindsided, underestimate what they need to learn, or get scared off and give up. This is a stage where you are particularly vulnerable to:

• Being sold a business that might take you too long to take over successfully
• Investing in a franchise or buying a business without impartial due diligence (i.e., only relying on a broker, seller, or franchisor to “guide” you)
• Launching a business idea that turns out to be more difficult than you initially thought. This is when new business owners say,

“I had no idea how hard this would be!”

2. Conscious Incompetence — Now you do know what you don’t know. It’s uncomfortable, but it’s progress. As a future business owner, this is when you have clarity on gaps. You can:

• Identify the most critical skills to learn first
• Choose the right path: start from scratch, buy a business, or go with a franchise
• Decide who to hire or outsource to complement what you bring to the table
• Capitalize on your knowledge with the right business for you

3. Conscious Competence — You’ve learned enough to do the work, but it still takes time and effort. Now you can:

• Keep learning by doing to become an expert in this skill: using your time (not always the best choice if you want to grow)
• Or outsource this skill to experts: using money to save you time and focus on more strategic activities.

4. Unconscious Competence — You’ve got it down. It feels natural. You trust yourself to make good decisions. You and your business thrive.

Most new business owners are stuck in stage 1 or 2. That’s why starting with what you already know is so powerful. You’ll move faster through the tough parts and build confidence sooner.

The Right Business Right Life ™ roadmap helps guide you through these steps, so you don’t get stuck or give up.

Why This Step Is So Important

When you’re starting a business, there’s already a lot going on:

☑️ Legal stuff
☑️ Marketing
☑️ Sales
☑️ Systems
☑️ Customers
☑️ Hiring help

Now, imagine adding totally new skills or an industry to that pile. Talk about overload!

The more time you spend learning, the longer it takes to earn money.

And the longer it takes to earn, the higher the chance you’ll burn out.

Starting with your existing skills and experience gives you a shortcut.

You’re not starting from scratch — you’re starting from strong.

Your Strengths Are Your Competitive Advantage

Think about your work history. Your hobbies. The things you’ve always been good at — even if you didn’t love your job.

These are your strength zones.

When you build a business around them, amazing things happen:

✅ You learn faster
✅ You make better choices
✅ You feel more confident
✅ You stand out because your skills are unique

That edge can make all the difference.

What Kinds of Strengths Matter Most?

Most people think of “strengths” as job skills, like sales or tech. But in business, your strengths fall into 4 key areas:

1. Hard Skills

These are your job or trade skills. You might have a degree, a license, or a certification in these:

• Accounting
• Coding
• Cooking
• Graphic design
• Project management
• Plumbing and all trades
• Writing
• Etc.

These are great for businesses that sell services or products based on what you already know how to do. But let’s assume your goal is to grow and scale your business to have a lifestyle with more income, flexibility, and equity. You’ll need to eventually buy back your time through a team of experts and employees. And hard skills can be delegated or outsourced.

2. Soft Skills

These are people and problem-solving skills, like:

• Listening
• Communicating
• Leading a team
• Networking
• Staying organized
• Time management
• Etc.

Soft skills help you work well with customers, partners, and even yourself. As a business owner, you will constantly refine these skills because they are not as easily delegated.

3. Leadership Style

Whether you’d like to lead a team or work solo, knowing how you prefer to lead helps you choose a business model that fits your energy, not drains it.

[If you want help in understanding your leadership style and strengths, consider our mini-coaching program: Strengths-Based Success for Business Owners.]

4. Personality

Your personality affects everything — how you market, how you sell, how you work.
Examples:

• Some people are better suited to start a business from an idea and build it from the ground up.
• Others will thrive by investing in a franchise and following the proven systems of a franchisor.
• Introverts may love solo projects or online work.
• Extroverts might enjoy in-person events or team-building.

There’s no “wrong” personality for business ownership. Just the wrong business for your personality. And that’s what we want to avoid.

What Happens if You Skip this Step?

When new entrepreneurs skip this self-check and chase a hot trend or a “once-in-a-lifetime opportunity,” here’s what usually happens:

❌ They feel overwhelmed
❌ They doubt themselves
❌ They burn out trying to “be” someone else
❌ The business never takes off, or takes forever to make money

Sadly, some give up altogether.

But that’s not going to be you — because now you know better.

How to Find Your Strengths

You don’t need a personality test to get started. Try answering these questions:

• What do people ask me for help with?
• What feels easy to me but hard for others?
• What challenges have I overcome that taught me something useful?
• When have I felt most capable or confident in my work?

Write down your answers. Then, look for patterns. These are clues to your future business.

Capitalize on Your Career Capital

Your career capital comprises the skills, experiences, knowledge, and relationships you build over time in your work life. It’s the “currency” you’ve earned that can help you:

• Transition to a new career as a small business owner and leader.
• Help your business stand out in the market
• Start and grow a business
• Negotiate better terms
• Do work that feels meaningful
• Hire the right people who complement you.

👉 And here’s something important: You don’t have to stay in the same field you worked in. If you’re a lawyer who’s ready to stop lawyering, or a hairstylist tired of cutting hair, or a programmer who wants nothing to do with engineering anymore, that’s totally valid.

Many people dream of changing industries or using their skills in a completely different way. That’s why part of the Right Business Right Life™ method is helping you figure out how to either build on your experience or start fresh with something more aligned with your purpose and lifestyle.

Either way, you don’t have to throw everything away. You’d be surprised by how many of your skills are transferable to business ownership. We help you connect the dots between what you’ve done and where you want to go — even if it’s a whole new direction.

How to Uncover Your Career Capital

Here’s a simple way to identify yours:

• Review your job and role history. We started this exercise in Step 1: Uncovering Your Life Purpose.
• The table below helps you make an inventory of the career capital you have developed throughout your career.