There are so many traits a good CEO must have. But, how can you understand and pile on a bunch of positive attributes if you don’t know where you currently are and how you can improve?
You need to start with the basics; a baseline of self-discovery to build upon or trying to stack traits could feel like throwing wet noodles against the wall. Some might stick, but most will fall behind the stove.
First, list all your strengths.
– What do you do really well?
– Who do you have on your team?
– What do you offer that is different/better than your competitors?
– What parts of your business are you passionate about?
(Without passion, you won’t make much money, but without money, you’ll lose your passion!)
– What are your business strengths? Are you detail oriented, outgoing, analytical?
– What are the assets you can contribute?
Next, catalog your weaknesses.
– What parts of business are you weak at?
– What are the weaknesses in you that others are likely to see?
– What do you despise doing?
– What can you delegate/avoid?
– What weaknesses can you work to improve or manage around?
– What factors are costing you money and need to be addressed ASAP?
Understanding your weaknesses is vital to your success. It shows you where you need to navigate, what you can delegate for the best results, and hints at what you can automate for optimal time management. No two businesses are alike, as everyone has different strengths and weaknesses.
It’s important to know what you have going for you. List your opportunities.
– What opportunities exist for you? Time, marriage/partnerships, being close to retirement, having money to invest, skills, education?
– Look at the people you can get to know, the events you can attend, the connections you can make.
Don’t be shy. What is threatening your business?
– What obstacles are you facing? Cash flow problems? Time constraints?
– What are your competitors doing?
– Is your spouse not on board? (Convincing your spouse may be your biggest sale, but I highly recommend you get on the same page before moving forward.)
Like knowing your weaknesses, understanding your threats is essential for the prosperity of your business. Though it isn’t fun to dive into the aspects that are potentially menacing, it’s much more threatening not to.
Take the time to analyze yourself and your business, then press forward. Attend conferences, hire out your weaknesses, and focus on building and USING your strengths. Take advantage of your opportunities and decide how to handle your threats. In this, you’ll propel your work forward.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing