I read an enlightening story in Daily Guideposts recently about a child who was color blind. It's hard for me to imagine going through life not being able to dress myself with coordinating colors of pants, tops, dresses, shoes, etc. But apparently there are many born with the inability to do just that.
This dilemma led me to think about what else is not the norm for the majority of the population, yet feels normal to some people who live with these challenges on a daily basis. I have lost the peripheral vision in my left eye. It feels so normal to me that I don't even think about it the majority of the time. Like me, many people have learned to live with the inconvenience these types of situations cause -- so much so that it feels normal. Would it be productive to stress and strain over it? Not likely.
When it comes to your business, what have you learned to live with that may feel normal, yet may not be the best, most productive way to grow a business? I have the ability to create websites, but it's not my strength - it's an ability. If I focus on websites, it keeps me from focusing on those things that are my strengths, like working with clients, writing, creating information products, and planning out my business.
Are you spending time working in areas of your business that could be done easier and faster by someone who specializes in those fields of expertise? You may not realize that when you work in parts of your business that are not directly revenue producing, you are stifling the growth of your business.
There is a process called a SWOT Analysis that can help you determine the highest and best use of your time, as it relates to building your business. As defined by Wikipedia, the free online encyclopedia, a SWOT Analysis is:
"A strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies."
Strengths - What can you do that is unique and/or better than your competition.
Weaknesses - What do you need to improve to help you attract more customers? Maybe you need a stronger marketing plan or to work on staying in touch with your customers more often.
Opportunities - Do you have trade shows or business conferences coming up that can get you in front of your target audience?
Threats - Is a new retail store opening in the same area that you serve? Is a competitor stepping up their marketing efforts?
Because this analysis looks at your business, and yourself, from multi-dimensional angles, it has the ability to reveal information that can become the catalyst to your success. Utilized to your fullest advantage, it can lead you to a happier, more successful life and business.
Taking the time to analysis your strengths, weaknesses, opportunities, and threats, as they apply to your business, may provide just the leverage you need to set your business apart from other businesses providing the same type of service and/or products. Use it as a starting point to find your competitive edge when creating a business and marketing plan, and to increase your awareness of what you have to offer to your clients, and at the same time increase your level of confidence.
Comments