Part 2: Identify Attitudes and Behaviors
In Part 1, the discussion centered on the need to change and be ready to unlearn, learn and re-learn. While formal education is expensive, much of the knowledge and skills that can help you as an entrepreneur are readily available and much less expensive on the Internet and through professional organizations.
Using your expertise and training as a consultant is the least expensive way to get started in your own business. Even though you can run your consulting business inexpensively, that has no relationship on the quality of services you can provide to businesses. In fact, consultants and temporary workers are exactly what businesses are seeking today: expertise without paying for benefits or long-term commitments.
There are four “talking points” regarding starting your consulting business:
1. Know your strengths (includes your area of expertise);
2. Be prepared to develop and exploit opportunities;
3. Match your strengths to customer needs; and,
4. Manage customer relations with more energy and attention to detail than you think may be reasonable
Know Your Strengths
Over the past several years Marcus Buckingham has released books and audio presentations on the subject of “Know Your Strengths.” If you want to be an entrepreneur, take time to read these books. For the purposes of this discussion, the two points you want to start with are (1) identify your talents and (2) don’t waste time trying to improve your weaknesses.
It seems like a simple task: identify your talents. Most people make a list and start selling people on the idea that their talents will help an organization make more money. Unfortunately, while your ideas are excellent, the most talented people don’t always get the job. There are literally thousands of people like you saying the same thing. Add to that people who are ready to undercut your bid making completing the task a loss rather than a profit. Government contracts are notorious for selecting the lowest bid, not the most talented people.
The person who has the best opportunity is not the one espousing to solve past or current problems but the person who has a plan to exploit opportunities. Companies don’t make long-term profits by solving yesterday’s problems. In the short-term, problem-solvers will cost companies money (your contract for example) and time. The return may be break even or a little profit at best. And once you are gone, the problems may re-surface. Hence, companies are skeptical about what you can do for them as a problem-solver. If your strongest talent is problem-solving you need to diversify by adding more complementary thinking to your proposals.
A good example is package design. Designers take an under-performing product and design a new package that gives the item zest and appeal. They didn’t try to solve the problem of the product only its presentation.
Taking this example a step further, marketing now takes this old product in the new package and uses demographics to trend its success. Marketing answers the questions of “who, what, where, why, when and how.” This kind of problem-solving is not looking backwards but instead to the future and the steps necessary for a successful outcome.
If your talent is problem-solving, make yourself different by tying together diverse thinking, even if initially, the thoughts seem unrelated. In the science of discovery, many times the outcome is not the one expected but the new discovery proves to have many uses. Show your prospects how simple and sometimes unrelated ideas can suddenly be very profitable.
At one time, the hot dog was a lonely meat item on a sparse dinner plate. Then someone got an idea to take the meat, wrap it in bread and cover it with condiments. The hot dog industry has been worth billions of dollars ever since. If one of your talents is discovering “hot dogs,” you’ll be worth millions in a few short years.
Ignore Your Weaknesses
With respect to working to overcome your weaknesses, that is a plan to fail. If you don’t know package design, then find someone who does know. If you have the latest and greatest hot dog but you can’t bake bread, hire a baker. Talented people know when to surround themselves with complementary people that can complete the task.
If you are a “big” thinker and don’t do project management all that well, don’t start taking classes and buying software to teach yourself how. Find a partner who has that talent. The time you’ll spend trying to overcome your project management weakness will cost you more than hiring a partner. Plus, you may never learn how to do good project management anyway. As a result you lost a potential contract and wasted your financial resources and time.
If anyone ever asks you to identify your weakness, you say “none.” The reason is that you surround yourself with other talented people who have the expertise to fill the gaps. Be like Mission Impossible and put together teams for the tasks.
The only people interested in you for your weaknesses are those selling educational products, seminars, or the so-called “gurus.” The problem is that our entire educational life was spent being told about our weaknesses and as a result we think we need to keep addressing them. Rounding out your personal life by taking special interest classes is a good thing; taking time out of your work week to “upgrade or complete your professional presentation” is wasteful.
To be continued in Part 3.
GROWTH <> LEADERSHIP <> EXCELLENCE
© 2006 3 Minute Learning LLC
