Your business is only as strong as its weakest part. No business big or small does everything perfect. There is always something holding your business back from getting to where you want it to be. Sometimes it’s financial. Sometimes it’s your lack of vision and leadership. Other times it’s sales, marketing or operational challenges. As a entrepreneur you need to know the one thing your business needs to get right today in order to move forward tomorrow.
Finding a product or service that people are prepared to pay for is hard. Running a business profitably is hard. Entrepreneurs are often times working behind their business and not in front of it. The momentum of their business carries them each day and until a serious problem arises, an entrepreneur may not even be thinking about the weakest spots in their business. Any weak spot that does exist often doesn’t appear until a major problem arises. Setting yourself up for success is knowing what challenges your business is facing and ensuring that the people and resources in your business are aware of those challenges and are investing in them each day. Problems don’t often get solved because of a single action but instead require discipline and focus on a regular basis. Having the right people on your team at the right time can cut down the amount of time and money your business loses by ignoring or not acknowledging its challenges.
The board of directors for United Airlines has made the decision to name a new CEO to ensure the company turnaround that has been in progress for the past few years continues. Scott Kirby has been promoted from President to CEO and has played a major role in helping United Airlines find growth and profitability. Scott has a reputation for being a no-nonsense individual who will have to deal with two challenges facing United Airlines: labour union contracts and the continued Boeing 737 Max airplane problems. United has worked hard to cut costs and hold its competitive position which Scott will need to maintain while addressing their current challenges. It appears Scott is the right person for United during the moment they are currently in to solve the problems they are looking to solve.
You can’t be good at everything. The best entrepreneurs know what they are good at, contribute their skills meaningfully to their business and find other talented people to do the rest. Unsuccessful entrepreneurs are their own worst enemy and never really maximize their potential because they refuse to acknowledge and strengthen their weaknesses. Your business is challenged right now by weak spots and could benefit from the right person tackling and solving its problems. What is the weakest point in your business right now and what person do you need to strengthen it?