Posts Tagged ‘competitiveness’

Ready, Set, Grow! This Week: The Surest Way to Leverage Growth is . . .

Monday, September 8th, 2014

Ready Set Grow
. . . to concentrate your efforts on straightening out your weaknesses.

As prelude: If you or your company has weaknesses that fundamentally inhibit growth, straighten them out. And quickly.

Examples:

  • As part of internationalizing your company, you want to establish an international management team, but you speak English only poorly. Learn English.
  • Your customers will no longer accept your production tolerances. Take remedial action.
  • Your production costs are uncompetitive, and a premium price is not feasible. Lower your costs.

However, spend no more time than absolutely necessary to straighten out weaknesses. If that is all you do, you’ll be chasing the market. Bet on your strengths, both your personal strengths and those of your company. To outpace the competition, it’s far more effective to build on strengths than to straighten out weaknesses.

You will only make lasting gains over the competition if you know your strengths, and make use of, multiply them. On the one hand, doing so focuses your efforts; on the other, it’s gratifying. We often find this to be true when we huddle with our clients who make it their business to identify and multiply core competencies. It is not uncommon for a considerable growth-spurt to come out of such a meeting. Focus instead of spreading yourself too thinly. Strengthen strengths instead of straightening out weaknesses. And that’s how growth happens.

© 2014, Prof. Dr. Guido Quelle, Mandat Consulting Group, Dortmund, London, New York. All rights reserved. © Sprinter: mezzotint_fotolia – Fotolia.com