Find your core competency.

Here comes a challenge to your certain belief that you could do it all, if you had to. Well, even if true, this is a new world where we can purchase many services formerly performed by entrepreneurs or middle managers, and do so much more inexpensively than performing those services ourselves.

So what's left for us as managers or entrepreneurs? That's our focus today. Our time and resources are always limited. We should be fanatic about finding ways to spend time on our core competency, and lesson our grip on all else, even if those tasks are easy to perform. This week, the message is short and simple. But it is a powerful reminder that we need to make it a strategy to limit our focus to what is important.

All the best,

Find your core competency.

 

Consider your core. It is the one skill, process or advantage you have over your competition. Then think of all the things you do to surround that core with people and assets that complete the company and allow you to release your product or perform your service.

Now consider how many of those surrounding assets and services are really necessary for you to perform in order to protect and grow your core. For most small and medium-sized businesses, there are lots of wheels spinning around the core that take up the attention and resources of management, but add little or no value to the core of the business.

These are new times, enhanced by our global ability to find resources anywhere on earth to complement the core of our business. And most often, the companies supplying those services are much more efficient at doing so than we could be because of their experience and advantages of scale, and the cost to us of such services is lower than performing them ourselves.

So – what is your core offering? Are you building it more slowly because your resources and attention are focused around many processes not critical to that core?


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