What Are Your Strengths? What Are Your Weaknesses? Why Does it Matter?

If you don’t know where you are strong and where you are weak, how are you going to bring in additional people to fill in the holes. No one can be great at everything. They can be good at a lot of things, but they are still going to struggle in some areas. However, the way that they stay at the top is they put people on their team who are great in those areas where they are not. If you don’t know what your strengths and weaknesses are, how will you be able to fill in the gaps.

Start with your Strengths!

Every business has its strengths and weaknesses. You are your business, what are your strengths and weaknesses? This is something that you need to do as uncomfortable as it might seem. This is meant to be a growing experience not a negative experience. If there are areas that you are weak in, then you want to find partners who are strong in those areas. Once you know your strengths, then you will be more effective.

List Your Weaknesses!

Now that you have a list of all the things that you do well, it is time to come up with a list of all the areas where you might need a little help. Where do you struggle? Do you get caught up in the excitement of finding a potential deal? Do you get lost in the numbers? Are you short on capital? Maybe negotiating deals isn’t your strong suit. Whatever your weaknesses are, write them down. The only way that you can improve is if you know where you are struggling.

Find the Blind Spots!

Now this is the scary part. It may also be the hardest part. Go to people whose opinion matters to you. Ask them to tell you two areas where you are strong and two areas where you struggle. This may help you find some blind spots that you don’t even know that you have. Make sure that they keep the list short so that it doesn’t become a pick-on-you session, it just helps you identify weak areas.

Turning Weaknesses into Strengths

Now that you have some ideas of where you are struggling, it is time to start working on those areas to make them strengths. If you know that you are weak in your financials, then it is time to start finding partners with capital. You may decide that you are going to take a finder’s fee for each property until you have build up some capital yourself. You may decide that you are going to bring in partners with capital. If you do this, how are you setting up the partnership? The most important thing to remember is that you can’t just hide. Nothing will improve if you just stick your head in the sand. You can find a way to overcome your weaknesses once you identify what they are. However, you have to identify those weak areas first.

Get Training, Hire Employees, & Find Partners

Fill in your empty spots. If you discover that you don’t know how to do something, there are plenty of people out there who can teach you how. If you realize that you need a personal mentor, find someone with experience to partner with you. If you are ready to expand and grow, bring on partners. There is a solution to whatever your problem is, just go out and find the solution. You can do it. As always, happy investing.