It’s Not About Metrics! Looking At Your Business Weaknesses

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One of the most difficult aspects of improving any business is about turning the mirror onto yourself. We don’t like to address specific weaknesses, but would rather focus on something like metrics or statistics to tell us if we doing good or not. But when we are not doing what we really can for the business we have to start thinking about addressing the inherent weaknesses in one way or another. This could be a very hard thing to do. With this in mind, what are the best ways for us to address our business weaknesses and start to improve on them?

It’s Not About You

You really need to get over yourself! It’s all about the focus being the business, not the entrepreneur. When we start to look at the business as a whole we may have to address certain components of our abilities to lead. It may very well be down to a regulatory problem whether it’s in regards to lifting equipment standards or not having the knowledge in-house, but when we are turning the mirror onto ourselves we’ve got to look at it in terms of the business rather than trying to save face. So many entrepreneurs feel that they have got to separate themselves from the business in order to go far but it’s these people that end up pointing the finger of blame when something goes wrong rather than taking responsibility for their actions.

The SWOT Analysis

Strengths, weaknesses, opportunities, and threats are the components of the SWOT analysis. It’s one of the most tools that every business should have in their back pocket. When addressing your weaknesses if you can look at the SWOT analysis to give you the blueprint this is what will start you on the road to redemption. You may find that there are very specific problems, perhaps in relation to your cash flow, but when you start to apply the SWOT analysis, it’s not just about identifying the weaknesses (which can prove to be a morale buster rather than booster), but it gives you the opportunity to look at everything in the round and start to push yourself so you can improve the company overall.

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It’s All About Actionable Strategies

Creating actionable strategies as soon as you’ve understood where your weaknesses lie will give you the opportunity to prioritize the information. As soon as you realize what your weaknesses are you also realize what your strengths are. Once you have finished with this analysis you can then start to improve your focus and provide the best strategies towards addressing the unknown aspects. When we are looking to improve our business we can focus on the metrics and place the blame on the employee. It could very well be an inherent problem within the business plan or the infrastructure. And this is why we have to get over ourselves and realize that we can’t just blame everything else. When we address our business weaknesses, it’s important to look long and hard into the mirror so we are able to pinpoint the fact that that we are suffering and that there are things that we can do about it.