My fellow Management Consultant Jerry was very, very successful with many consulting clients among the world’s largest corporations. He recently retired, and at a “farewell lunch” the other day I asked him what the single most important factor in his success had been.
“George”, he replied, “it was the fact that I realized early on that there is no such thing as a business problem. They are all people problems, every single one!“
During the Great Recession, sometimes I would receive a call from a client asking “How am I going to survive in this terrible business climate?” A few days later I would get call from another client “George, how can I grow my business during this recession?” Guess which client not only survived the Recession, but thrived and came out of the Recession lean and ready to grow? (Today his business is about 4 times bigger than in 2007)
All too often entrepreneurs tend to blame “others” for their business challenges. They generally have great strengths, but also weaknesses that can hurt their success if they don’t recognize them and take steps to overcome them.
Some Strengths of the Typical Entrepreneur
- Task oriented, highly focused
- Needs and wants control
- Good at marketing
- Persistence (sometimes to a fault)
- Intelligence and usually street smart
- Self confidence and willingness to take risks
Some Weaknesses of the Typical Entrepreneur
- Poor listening ability (sometimes very poor)
- Not holding people accountable (It’s easier to do it myself)
- Not delegating and growing subordinates
- No “systems approach” to business (We’ve always done it this way)
- Falling in love with their products, ignoring reality.
- Not enough attention paid to hiring and firing people
- Believing that asking for help is a weakness
Of course, no one person has each of these strengths or weaknesses. Entrepreneurs have to recognize this very basic fact: If they want their business to grow and thrive, in both good and bad economic times, they cannot do it all by themselves. What got them to where they are today will not get them to where they want to be tomorrow!
Step One: Recognize I have to improve in order to grow my business.
Many times it takes an experienced person from outside the organization to bring a different and helpful viewpoint to the entrepreneur. Mentors at the Coachella Valley SCORE office have literally hundreds of years of combined business experience in many different fields. A SCORE mentor will be glad to help you achieve your goals. And, best of all SCORE mentoring is completely free for you.
Step Two: Call the SCORE office for an appointment 760-773-6507. It just might be the best business decision you ever made!