Your small business strategy foundation: Your strengths!

You want to be ahead of your competitors with your small business? You want to be number one in your business? You want to find a comfortable niche for your company? You agree to at least one of these questions? You can achieve all of this. But it will not happen on its own. In this blog post I will tell you how you can start to improve your small business with the right strategy development today.

Stop compensating your weaknesses

Many people think that they have to fight their weaknesses in order to be competitive with others. They work hard to improve those skills with which they are behind others. But this is nonsense. What happens if you improve your weaknesses? The best you can achieve is to be as good as others are. The effect of these efforts is that you only compensate your skills to the competitors’ level.

Do you think that you can be competitive when you have the same skills like many others? In fact this is nothing to be competitive with because a copy can never be as good as the original. On top of that it is mostly rather frustrating to care about things you don’t like or you are not very qualified for. Don’t try to adapt yourself to your competitors. When you level out your weaknesses you only aim for mediocrity. But you want to aim for being market leader with your small business. That’s why the right way leads you exactly into the opposite direction.

Be different: Don’t fight your weaknesses, improve your strengths!

If you want to be better than your competitors you need to be different and specific. You have to create an outstanding, specific and razor-sharp profile for your small business. This requires that you are aware of your current situation. You do not only need know the skills, qualifications and resources of your small business company. You need to be aware of them!

If I would ask you now, what makes your service or products special? Could you answer this question spontaneously in less than a minute with only a few words? No? Let me have a guess: Probably you could tell me immediately a lot about the things that are going wrong in your company and which processes have to be improved, right? Don’t get me wrong, even with a perfect strategy you need to solve your problems, but a good strategy will help you on the other hand to solve your problems. But for the strategic planning itself you should primarily have a look at your skills and expertise first.

Dig out your skills and strengths

So, let’s go ahead and focus on your strengths now and dig out your skills and expertise. I want you to take a piece of paper and answer the following questions in a brainstorming. As written in my last post, please don’t limit yourself. Write down all the things that are coming to your mind. Don’t think about it in depth at the moment. It doesn’t matter if it sounds ridiculous or wrong at this time. Just write it down.

Here are the questions you should answer yourself in a brainstorming in order to get aware of your strengths:

  • What are your personal resp. the companies outstanding skills and expertises?
  • Which business resources do you resp. your company have (this does not concern your financial resources)?
  • Which work / tasks are your absolute favourite ones?

It is not necessary to be perfect in the individual skills. At first it is absolutely enough to be ahead of your competition just like being the one-eyed under the blind.

Once your first brainstorming has ended and you have written down all ideas so far, keep this paper and have a look at it every once in a while. You will see that new thoughts are already coming to your mind which you can add. Also you will automatically start to sort and evaluate your skills. Take your notes and ideas and create your own specific profile of skills and knowledge.

In case of any questions concerning your strategy groundwork please feel free to leave a comment or contact me on my contact page.

About Carsten

Carsten is running his own small business successfully since 1995. He has created a highly focussed and well accepted service company in a small niche of the construction business. Learn more about him here, contact him here and on Twitter. Please feel free to share your thoughts about this post and leave a comment below.

2 Responses to Your small business strategy foundation: Your strengths!

  1. Pingback: Step 2: Create your model target customer profile | Small business Strategy

  2. Marcus says:

    This post is definitely worth a read. I have made the experience that it is much easier to start a small business when you are aware of your personal skills.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>