Every human is a blend of strengths and weaknesses. However, to achieve success, we assume we must first prioritise and rectify our incompetencies.
When establishing a startup business, you will come across both the merits and demerits of your business design and the people executing it. But where should you focus more?
In this article, we shall talk about how to identify and play your strengths rather than weaknesses to lead your startup to success.
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Why Play To Strengths?
‘Success is achieved by developing our strengths, not by eliminating our weaknesses.’ —Marilyn Vos Savant
This can be applied to a startup’s journey of success as well.
Your startup business is shaped by a structure, processes, individual efforts, and market analysis. Understandably, any loophole or setback in these elements can make you anxious.
Here are some reasons to support why you need to play strengths and not weaknesses:
- Spending too much time on your weaknesses can only hinder growth and take away opportunities for success.
- It is easier to identify our flaws. If you don’t do it yourself, you’ll find others doing it for you. But when it comes to your strength, you will have to find it yourself.
- Fixing every flaw will consume your team in a never-ending correctional process.
- If you use that time to excel at what each member can do best, you will easily achieve the success that overshadows all flaws.
How To Expand Your Startup Using Your Strength?
A startup can become powerful when it exhibits enough strength. Startups are essentially structured to support the development and climb up to achievements.
The greatest strength behind every startup is its story. Before thinking about what challenges your product can face and how to overcome shortcomings, spend considerable time analysing why you wanted to start this business in the first place.
Next, follow the steps mentioned below to play to your strength and expand your startup:
Recognize Your Strengths
You need to identify strengths at three different levels when leading a startup business:
- Financial Strength.
- Human resources.
- Intellectual properties— patents, trademarks, copyrights, trade secrets.
- Strength of important team members.
- Business flow and operational processes.
- The reputation of the startup
- Position in the market.
To recognize every strength, you will have to conduct a SWOT analysis. You form a team to do this. Let SWOT analysis be a continuous process in your organization.
Design Ways To Channelize Your Strengths
Next, your business and operational model should follow the flow of your organizational strengths rather than focusing on correcting the weaknesses.
For instance, imagine one of your team members is exceptionally talented at managing and convincing clients and investors. However, this person is incapable of handling multiple clients at a time. Should they spend time trying to improve their multi-handling capabilities?
Instead, if you assign the most important clients and investors for this person to manage and provide them with a team capable of applying the same expertise for the lesser important clients, you will produce better results.
Apply Your Strengths
If you find someone/something performing better, apply them immediately to improve the business flow.
It’s important to know that there are many ways to apply your strengths and talents to your current situation. Some of the most common ways are:
- Taking action where your strength lies: You can use what you already have and apply it in a new way. For example, if someone is good at organization and time management, make them lead client-based teams.
- Knowing what you like: If you do what makes you happy, you automatically reduce the chances of burnout.
For example, if someone in your organization is fascinated with the idea of Cryptocurrency, try applying their knowledge and interest to the startup’s benefit.
Allow them to explore ICOs. This will help your business with the necessary funds to invest in business operations. To know more about ICOs, visit the bitcoin loophole.
- Working together: Sometimes, the real strength lies in teamwork. Work in unison and implement collective capabilities to achieve goals.
Wrapping It Up
Establishing, implementing, and preserving your strength will not always be easy in a startup. However, when you sign up for this journey, you’ve got to do it right.
A positive attitude will yield positive results. Make your work a space where you explore and practice your best interests. This will turn your startup from a mere business to a shared passion for everyone working there.
We hope to have helped you understand the importance of strength in a startup business.
For further questions, please leave us a comment in the section below.