Torbjorn Zetterlund

Wed 31 2022

Maximizing Your Business Strengths By Identifying Your Weaknesses

by bernt & torsten

Business ownership and leadership are complicated. Not only are so many other enterprises more than happy to take your market share from you, but adapting as time moves means you can never rest on your laurels for long. 

As such, business leadership is as much about growth as anything else. Yet while you were probably convinced to become a business owner via your strengths in this field, to become well-rounded and optimize your potential, it’s essential to identify our weaknesses and how to not only minimize their impact but convert those issues into strengths.

In this post, we’ll discuss where to start with such an enterprise and how the approach can help you learn more about yourself as a leader.

Outsourcing The Essential Tasks

It’s OK to go into business without a background in finances, compliance, tech or any other essential specialism, but it’s essential to make sure you connect with those who can. When filings your business income returns and managing your tax contributions, it’s essential to utilize a crucial outsourced accountant. More than just ‘doing the job for you,’ these services seek to inform, answer questions, and help you get a better picture of your business finances. If you learn with care, it’s okay if you have no experience because running your firm with such informed advice is the best on-the-job training you could ever experience.

Identifying The Cause Of Setbacks & Radical Responsibility

Practising radical responsibility is critical even when events are out of your control. This is because the more you can determine how to pivot your approach, the more necessary the chance of a better or resolved outcome. For instance, if a supplier is difficult with you or won’t deliver appropriately on time, could this be their fault? Perhaps, but did you vet the supplier properly in advance? As you can see, even if an issue isn’t something you should blame yourself for, radical responsibility helps you claim control of the situation. As such, weakness turns to strength.

Management Style & Leadership Changes

Leading people isn’t easy. But it’s very important to clarify the definition between employee and worker. If you’ve found that your management style has struggled this year, adapting it for the next may be a good use of your time. This could include being less overly friendly in the office or perhaps being professional about how you discipline staff privately rather than ignoring or even tolerating poor behaviour like constant late attendance. If there’s been conflict, it’s good to see where that may have germinated and how you contributed to that, either through your inaction or the radical responsibility of considering who you are (and checking references more thoroughly). 

With this advice, we believe you’ll be able to cultivate your business strengths by renovating and redeveloping your weaknesses in the best possible light. Over time, this is sure to curate an appropriate outcome that makes a difference in your brand and helps you become the very definition of an appreciating asset for your business.