How To Compensate For Skills You Lack In Business

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I think a lot of times success in business doesn’t as much rely on what you’re good at, but knowing what you aren’t good at and figuring out a way to compensate for it.

This can be quite the hurdle for people trying to bridge their passion as a career and into something bigger. You might be a master violin player but when it times to conduct, you’ll realize you need a different set of skills.

Learning To Be The Conductor

If you want to learn to be the conductor of your business, you need to understand how you learn. For me, it’s reading. I have blogged many times before about my love for reading and I always have three different books on the go.

Reading is key to how I learn, especially when I’m reading through other people’s experience and the knowledge they’ve put onto paper.

Another way that works for me is going to seminars. I don’t go into the seminar with the concept that I am going to learn everything but if I can get one great pointer out of it then I am happy. If you go in and expect you’re going to be an expert by the end of the day, you’re setting yourself up for disappointment.

Ongoing Education Is Vital

Consider courses available at nearby universities, colleges and night school programs as they all have great opportunities for learning. You may think you don’t have the time for it but the reality is that you don’t have the time to NOT continue your education.

We always say that we lose about 10-15% of our knowledge on an annual basis in the accounting industry. If I were to guess, I would bet most people and businesses are losing 10-20% of their knowledge on an annual basis.

Continual education isn’t just key to developing an edge but also maintaining one. Every time you get complacent, you give an opportunity to someone else to take the lead.

Experience Doesn’t Equal Expertise

You can have ten years experience in your business but does that mean you’ve been in business for ten years or that you’ve had 10 single years in business?

If you’ve been in business for ten single years than that means you’ve just been repeating the same routine and cycle each year with no changes. You don’t increase your knowledge or enhance your business model, you just keep it going forward one year at a time.

I like working with the people that are continually motivated to change their skills and who they are. I think that’s the biggest thing an entrepreneur needs to know. It doesn’t matter if you graduated from high school, university or dropped out at grade 8.

Keep Your Edge The Education

People talk about “pure entrepreneurs” that were born to do it and I personally don’t believe in that. You must continually learn in order to keep your business moving forward.

You may have more creative skills than entrepreneur-related skills. You might be more technical and lack skills in sales and marketing. The reality is we all struggle in certain areas; the important thing is that we recognize what they are and work to fill those gaps, whether that’s through education or finding another team member that can handle the job.

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