Eight Key Strategies For Entrepreneurs

Many entrepreneurs learn early in their careers that they are never going to be the best at everything. When it comes to running a business, most entrepreneurs do some things really well but can be terrible at something else. Strengths and weaknesses are all part of the human condition, and even the most seasoned business owner is not without weakness.

However, you can always be more intentional with how you approach your weaknesses. With the right plan, entrepreneurs can shed some light on their weaknesses and work to improve them. To offer a few strategies, eight leaders from Young Entrepreneur Council discuss some of their tips for turning weaknesses into strengths and how that can positively affect your business.

1. Start By Understanding Them

First, understand your weaknesses. We can often be blind to our own weaknesses, particularly when it comes to leading and managing a broader team. Provide a forum where employees can give honest feedback both on the business and on you. I’ve also found having a coach extremely valuable as a way to talk through issues and understand how I might be blind to my shortcomings. – Ben Jones, Ohi

2. Treat Them Like A To-Do List

I take a quick note of the things I need to work on. Then, I do my best to improve them and turn my weaknesses into my strengths, even if it means taking a course, learning from my teammates or stepping out of my comfort zone. I believe that if you want to learn things you shouldn’t be embarrassed to ask questions. I make it a habit to find out more about things I don’t know by asking a lot of questions, reading books and participating in discussions whenever possible. – Josh Kohlbach, Wholesale Suite

3. Partner With Complementary People

I’ve always been aware that I lack specific skills, but I also know that I am proficient in other areas. Because of this awareness, I’ve been able to partner up with some amazingly talented people. Many of the brands or products that I run are actually co-founded with people who know more about the product than I do. I bring my marketing knowledge to the table and enable my partners to create brilliant products. In this way, my “weaknesses” have actually led to the creation of strong brands and strong teams where our skills come together in a cohesive way. In short, my suggestion is to focus on your strengths and partner up with people who can make up for your lack of knowledge in any area. – Syed Balkhi, WPBeginner

4. Have A Plan And Make Time To Learn

Weaknesses are always a good opportunity for growth. The important thing for you to do is to have a plan to improve on your weaknesses. Surround yourself with people who are good at what you haven’t mastered yet. Learn from them, ask them relevant questions and make the time to master what you have learned. – Maria Thimothy, OneIMS

5. Request Feedback From Your Team

Asking for feedback from my team has been an important part of my growth as an entrepreneur. The people I work with on a daily basis know what I’m good at and what I could improve on, so I make a conscious effort to ask for feedback and learn to grow from their perspectives. I take it all with a grain of salt but with a lot of appreciation for their honesty because giving feedback is also not always easy. It makes my team stronger if they know that weaknesses are normal and not something to hide. We all have blind spots, so being open to hearing what others have to tell you about yourself is critical. I can look in the mirror all day and still not be able to see myself the way others see me, so I like to be open to what others have to tell me about myself. – Robert De Los Santos, Sky High Party Rentals

6. Lean On Your Mentors

No one can build a business by themselves. One of the most critical things for entrepreneurs to do is to surround themselves with mentors who can provide council in areas of weakness. This is multifaceted in that mentors will be able to better recognize your areas of strength and weakness and provide advice to help you turn your weaknesses into strengths. It’s no secret that well-balanced teams tend to produce stronger cultures and better businesses. However, the only way to build a well-balanced company is to be mindful of strengths and weaknesses and to work on strengthening your weaknesses. This transformation is extremely difficult to make when you do not have trusted external mentors to lean on and guide you through the process. – Arian Radmand, IgnitePost – Robotically handwritten notes

7. Ask Questions When You Need Help

To turn my weaknesses into strengths as an entrepreneur, I like to ask questions—a lot of them. Many business owners feel too intimidated to ask for help or ask about something they’re curious about, but it’s the easiest, most convenient way to learn more and perform better for your company. When I need help, I no longer hesitate to ask those around me. There’s nothing to feel ashamed about, and asking questions shows my team that they can ask too. No question is too out there or too simple, and it’s likely that if you have that question, many others do as well. This helps you enhance your business processes and bring you closer to reaching your goals. – Stephanie Wells, Formidable Forms

8. Develop Your Weaknesses One At A Time

It’s easy to spot our weaknesses and want to improve them all at the same time, but, as busy entrepreneurs, we usually don’t have the time to fix everything at once. That’s why I like to tackle one shortcoming at a time, usually for no less than six months so that I make real progress. For example, I realized that I would like to improve my public speaking skills, so I worked with a coach and joined a class where I was given speaking experience every week. After six months, I made a huge improvement and felt confident that I was ready to move on and work on the next thing without feeling overwhelmed. – Tyler Gallagher, Regal Assets