What if I told you that working on your “faults” or things you are not good at will only get you to a point of being average? Working on the things you are not good at will only get you to “good enough” and that is just to keep up.
Think about playing tennis. Most people are not very good at it, so they work at being able to serve and mostly get a volley going. They may take classes and study with a pro for a short period of time, but what they achieve is the ability to play a game with a friend.
World ranked players practice each and every day, for month and years. They hire coaches, many of them, to focus on specific areas of their serve, their swing, their stance, everything. This is not an exaggeration. You may have heard of the 10,000 hours to become an expert, but that is not accurate. It can take much more time to reach the level of playing pro.
What does playing tennis have to do with your business? Here is an example, financials. Most people are terrible at financials. They try and try but the math is hard, and the numbers don’t make sense. Maybe you are the exception, but most business owners that I talk to have a hard time understanding what the numbers mean. Yes, higher revenue is good, but only if the margins can support your business. If not, higher revenue means greater losses, but how is this possible? The size of your organization and the make-up of the people within it drive efficiency. Bigger isn’t always better! Doesn’t really make sense does it, but it is true and it is all there in your numbers.
If you are not good at numbers, should you be your own accountant? Most would say no way, I have a CPA do my taxes. OK, but what about bookkeeping? Do you do it or does someone in your family? Are they a trained bookkeeper with a certificate? If not, how do you know they are doing it right? Are they fast or are they doing it at night, after hours? So, what happens if you double the business, will your bookkeeper keep up?
Now let’s talk about the business owner. What are they good at and what are they not so good at? Would it make sense for them to focus on their “not so good” and get to average, or should they go the route of making what they are really good at their focus and become great?
Just like a “regular” person would have to train countless hours to become “average” at tennis. Someone who is gifted with the athletic skill of a tennis player would still have to work to countless hours, but at the end they would be “world class.” To be “world class” at business, the owner of a business should focus on what they are good at in the business. Honing these skills to the point where the whole world will recognize them as the “best.” That is when sales will no longer be an issue. Charging higher prices because the customer is working with the “best” would not be a problem. Sure, you still need someone to do the books, but now that you are making more money it isn’t as bad to hire a top-notch bookkeeper.
How do you know what your gift is, how do you know what to focus on? Just ask those that know you, and they will likely tell you right away, “Oh you are a great Builder, but your invoices are all over the place!” Not too sure your friends can tell? If you need an expert opinion, reach out to us at rick@gramatges.com and we can set up some time to do a skills assessment/inventory and work out what makes the most sense.
Gramatges Consulting 