Volume 50, Issue 11 - November 2015

BestPractices

We’ve All Got Them
Know Your Company’s Strengths and Weaknesses

by Richard Voreis

It’s a fact of life: many businesses don’t know the strengths and weaknesses inside their own company. In fact, most of our glass/glazing clients did not have this in-depth knowledge, and I cannot recall even one client in more than 15 years of consulting who had consciously considered their strengths and weaknesses.

It’s important to know both—not just what you consider to be your company’s strengths. Let’s start with those.

Stay Strong

The strengths of your organization can distinguish your company from your competitors. Strengths can also form the foundation for an effective strategic plan. If you know your company’s strengths, then you can promote them to your prospective customers and make a very good first impression.

Every company has weaknesses—no matter how good they think they are in conducting business. After a candid and in-depth assessment, many companies find they have serious weaknesses and, in some cases, more weaknesses than strengths.

When a company has more weaknesses than strengths it’s concerning, especially if there are serious weaknesses on the list. With that said, identifying weaknesses is a big plus.

Overcoming Weaknesses

I often find with our clients that their weaknesses are nothing unusual or surprising. I’ve seen them all before, and the solutions are clear. Even companies with a long list of weaknesses can overcome them, often in a relatively short period of time. I’ve seen it happen, and our involvement can make sure it happens.

So, what’s the best way of finding out? Just ask.

Determining company weaknesses is easier said than done because most often employees will be more direct and candid with a consultant than with company management on issues of major importance. So, to be fully assured of getting valid input, consider using an outside authority to conduct a strategic assessment. This means you will receive insight into problems and opportunities that will not normally arise through your typical communication channels.

It’s so important that I’m asking again: do you accurately and fully know all the weaknesses of your company?

If you cannot answer that question with a complete feeling of certainty, then you need to do something to find out. And the best time is now so you can start overcoming your weaknesses.

I’d like to hear from you on these important initiatives in running a highly successful business. How did you do in answering the questions I asked in this article? Do you have some questions for me? How can we help you?


the author

Richard Voreis
is the founder and CEO of Consulting Collaborative in Dallas. His column appears bi-monthly. Email him at rdvoreis@consulting-collaborative.com and read his blog on Thursdays at dollarsandsense.usglassmag.com.


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