Small Business

Get rid of weakness

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Successful business owners understand the importance of being proactive about improving their weaknesses.

A bloke I know runs a business – it’s a new operation and doing really well. And the surprising thing is that he doesn’t know much about business.

I could be rude and say his un-businesslike condition is a direct result of his background as a journalist, but that would be unfair, as he did spend time as a corporate affairs manager for a major company.

And while hobnobbing around the country in business class and staying at international hotels, he did complete a masters degree in business, and not even that taught him much about business.

However, he did learn something that has given him an edge. This edge gave his company the clout to pick up the PR contract for one of our best winemakers. It also gave him the credibility to win the contact for a national wine expo in Melbourne recently.

But if he is so ‘weak’ in business, what is his strength? Well, he is a wine expert and has great face-to-face confidence that helps him sell his business. But all these skills can be reproduced in those who dedicate their life to swallowing wine and shooting off their big mouth.

No, Stu’s strength is that he knows his weakness and has done something about it. One thing he picked up in his masters degree was a good friend Annie, who is his opposite.

She is reliable, attends to books, systematic and capable of planning and administration. She shores up Stu’s weak spots – he could kill me for this honesty, but the education imperative cannot be denied.

When the wine and marketing expert combines with the business expert this creates a formidable business. In all my years of studying successful businesses, the capacity of the key player to identify weakness and to fix it up is the common characteristic of all business winners.

Recently, the strong business one, Annie, contacted me for a name of a business consultant to help them take their business to the next level. She was ready to pay and travel to Sydney if need be.

We had a good chat and she ended up reading The E-Myth which took her on to business coaching. Through this coaching, she was able to develop systems in the business that supported it through each stage of growth.

How come Annie seems to have her business ‘you know what’ together? Well, she worked for McDonald’s when she was young – from counter to executive ranks. There, she learnt the value of developing a winning business system.

She is trying to create her own successful business system. And like Stu, she is not letting her weakness – knowing exactly how to grow a business – get in the way. Now, that’s a strength.

If you’re looking to work on your business rather than being stuck in it, book in for a complimentary business assessment today with Switzer Business Coaching.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Wednesday, December 07, 2011

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