In this video, I discuss the importance of identifying your business weaknesses so that you can fix them before getting “shot down.” You see, often the areas of improvement that make businesses most vulnerable are, in fact, ones that we wouldn’t necessarily think of.
The reason I talk about getting “shot down” is because during WWII, when planes would come back from seeing action, they’d be all shot up. Chunks would be missing, and holes would be left in the wings from flak or other debris. There were naturally people who wanted to focus on fixing these damaged parts.
However, somebody else pointed out that these planes could still fly. Although they weren’t perfect, they still worked. This person reasoned that perhaps it was the untouched parts that should be examined. Clearly, the parts that were shot could withstand quite a bit of damage. But maybe it was the untouched sections that were the true areas of improvement, and the reason why other planes were being destroyed.
It’s important to think of your own business weaknesses in the same way. An example of this way of thinking is if a local competitor shows up near you. You’ll have to address this problem because it’s very apparent and directly impacts your business. However, what if Amazon begins selling your products online? That’s a problem that might not be as obvious, but could lead to your business being “shot down.”
When you only focus on the most obvious deficiencies in your business, it’s easy to overlook other areas that may not be prepared to withstand a challenge. These areas of improvement can ultimately make all the difference in terms of your business success. By identifying and shoring up these business weaknesses, your business can become more resilient and ultimately more profitable.
Hey everybody, Dan Holstein here, helping your business take flight, and today I want to to talk to you about how to prevent your business from getting shot down. So, stick around. Did you know that in World War II, when the Allied fighter planes and bombers went over to fight the Axis, that when they would come back, the ones that would come back, they'd be all shot up, right? They'd have parts of the wings shot off, bullet holes here, and there, and everywhere, flak holes and chunks missing, and somebody said,"Wow. We really better reinforce those parts for safety, and keep these things flying." And somebody else said,"Well hang on a second. They're still flying. They're shot up, but they're still flying. These parts of the plane, they're damaged, but still functional. They're not perfect, but they're still functional, they're working." And so that same person said, "Maybe what we need to focus on is the areas that look okay on these planes, because maybe the other planes that didn't come back, maybe they got hit there, and that's what took them out." How's this an analogous to your business? While there might be areas of your business that are quite obviously needing some attention, they're a little rough around the edges, shot up a little bit, but still functional. But there might be some areas of your business that you haven't looked at in a while, that you might not be thinking about, that could lead to you getting shot down.
So here's an example:
What if a local competitor shows up? Someone down the street from you, in your local trading area, and some of your customers start to go there. That could be akin to the shot up wings. You've got to do something about it, right? But, what if you're missing out on the fact that say, Amazon is starting to do what you do online, selling your products or services online, and you're not online at all? That might be the bigger problem that, down the track a little bit, is going to get you shot down. So, for this week, what I'd love for you to think about is where in your business haven't you given much attention to in the last little while. Where are some the areas that you've been ignoring? And maybe you've got a sense of "Hey, maybe we should look at this or look at that area of the business." You've been too busy focused on other areas that are shot up, but still functional. So that's it. If you have any questions about where to prioritize your focus in your business to make sure things are running well, whether that be your leadership team, your execution, your marketing, your sales, hit me up for chat. I'm always happy to help, and have a great week, happy flying, and don't get shot down. Talk to you soon.