We may be skilled managers and leaders but there is a limit to what we can do well in a day. Being a controlling manager or owner has proven to be a growth limiting factor for many companies. Instead, do a self-focused SWOT (strengths, weaknesses, opportunities and threats) on yourself. Use your strengths and find others to handle areas of weakness. This approach gives you the best return on your time and reduces frustration. Running a business is a team, contact sport!
So how do I do this? Make a list with four columns: what I like doing, what I am good at, what do I dislike doing, and what am I not good at. I suggest this order because you will begin to see a correlation.
Next, make a list of the growth opportunities in your business and then set up a column next to it with threats. Compare the contrasts and order them from biggest opportunities to the smallest and then do the same for threats.
Now you have a tool to help you:
- Determine where you need help.
- Determine where you need to focus your time to address the biggest opportunities and threats.
- You are in a process to reexamine your goals and priorities-both personal and professionally.
- You have a process to step back and look at the bigger picture.
It may be that you are uncertain of the results of your lists and thinking process. If you have a trusted employee, spouse or business advisor, it would be wise to run your analysis past them for a second opinion. A frank assessment is critical to your focus and confidence that you are on the right path.
From this point EXECUTE. Find the help you need through your network, advisors or employees.
For additional insights, questions, comments and help on this or any area of concern for your business contact Dave Johnson, C Squared Managing Partner, 303-417-6353.