a personal inventory is good for (your) business

Posted by: Carolyn | Posted on: April 23, 2008 | Comments 15

“What are your strengths and weaknesses?” I think it’s safe to say this scores right up there as one of the Most Over-Used and Under-Performing Interview Questions Ever. In fact, fwm expert contributor Karen Burns touches on this in a recent piece on interviewing on her fabulous blog, Working Girl.

However, taking an inventory of your strengths and weaknesses is a great personal exercise that can serve you well. fwm community member Sookie brought this up recently, in response to our Roundtable: Starting a Business blog post. She wrote:

One of the first things I did to start my business was research, then hire the professionals in those areas I couldn't do or understand. I am one person who only can wear so many hats, so I found my strong points and hired for my weak points.

You’re one smart cookie, Sookie (c’mon – can you blame me?). I agree with you wholeheartedly: it’s important to know where your vulnerable spots are, and make sure they’re covered. In fact, in my first book I described my inventory-taking as an insurance policy.

What do you think?

Have you used a personal inventory to help round-out your weak spots? Are you intrigued enough to give it a try?

Chime in. I’m interested in finding out where you land on this topic.

Related tags: interviewing, outsourcing, self

15 people have responded so far. Add your comment below.
Working Girl said:
04.23.08 12:53 p.m.
Another cool thing to do with weaknesses is to "reframe" them as strengths. For example, several years back I was applying for a job as a scientific editor. Strengths: I know a lot about grammar, syntax, and diction. Weaknesses: I know nothing about science. I have no educational background in science. But I was able to convince myself (and thus the employers) that my scientific ignorance was an advantage---it made me the perfect lay reader (the documents were meant to go to the public). It seems to me that the most perfect job of all is one that calls for the whole package of what you are---both strengths and weaknesses. Which is not to say you shouldn't try to work on those weaknesses. There's always room for improvement! But the reframing thing is something to think about. Oh, and thanks for the shout-out to my blog. I really appreciate it!
Renata said:
04.23.08 4:04 p.m.
This brings up another good point about strengths and weaknesses. It's great when you can find a boss who sees past your limitations (especially lack of experience), and can see the future of your strengths. After leaving my copywriting job at Land's End, I applied for a jr. ae position with a pr firm in Houston. The owner of the firm -- one of my greatest mentors to-date -- hired me even though, on paper, I had little experience to offer. She spent more than an hour interviewing me, and discerned that I had plenty of relative experience and, moreover, had the personal make-up she was looking for. She spent the next few years training and mentoring me; I spent an additional 7 with the firm, and did my best to pay her back for believing in me -- and for helping me develop some strengths I didn't even know I had.
Dorinne said:
04.23.08 8:19 p.m.
I have a question, we talk a lot about how important our families are and we do whatever we can to provide and care for them. Is it ever o.k to be selfish and so driven that our family fall by the wayside? Carolyn must have seen the cut throat competition while working for the Trump organization. Is that how we need to be to succeed? I cannot be like that, so does that mean I have to find people that can and will,or will I be doomed to never reach my full potential as a small business owner? Are we truly able to succeed if we play nice?
Viviana said:
04.23.08 9:22 p.m.
@Dorinne, there is probably more than one answer to this, but here is my take: I have worked for a cutthroat organization or two, and sometimes when you look around the room it appears as if every successful, competitive person has to give up decency and fair play to move ahead. Yet, I have noticed, 100% of the time, that there is always at least one person in every organization who manages to succeed and still be a person of good character. That one person reminds all of us on the way up that, even in a cutthroat environment, behaving with decency and unselfishness is always an option.
Dorinne said:
04.23.08 10:03 p.m.
Thank you Viviana, I just cannot sacrifice my soul to succeed. It is good to know their are others that did not and still were successful.
Working Girl said:
04.24.08 5:58 p.m.
And, I would have to add, if you "sacrifice your soul" to succeed, then you have not really succeeded.
Rachel M. said:
04.25.08 8:53 a.m.
In the past 6 months, I had a major fault pointed out. I was told by our new HK GM that while my efforts to set policy and procedures with the R&D team are respected and followed, I needed to be more dynamic as a director by showing appreciation for the hard work the team was doing. Email is our primary tool of communication with the Far East and I’ve always used it to convey instructions and corrections in a short concise manner. I didn’t realize that I was rarely sending back praise for the hard work the team was doing. Since this conversation, I’ve tried to pepper email with positive feedback and I’ve seen the team become stronger and more confident. I’ve learned that communication is not just about conveying instructions but about inspiring a team.
Pedro Tunes said:
04.25.08 11:14 a.m.
Sorry to go off topic but since the "28th" was taken from your main page and replaced with "soon" is the site still launching this Monday? And if I may make a suggestion I think it would be a good idea to refresh the other domain - carolynkepcher.com - as I'm sure many people go to that site (since it appears first in the google database) and there they can't find any reference to this blog. Back on topic I have to agree with "Working Girl", if you have to sacrifice your soul to succeed I can't say you have really succeeded, at least in my book. My parents set a great example for me on this since they always followed the rules and both got far in their jobs through hard work and determination. Thank you and keep up the good work ;)
Jennifer M said:
04.25.08 12:07 p.m.
You know, to be honest, this question always made me squirm at interviews! It is a great personal exercise though. A Personal Inventory is a must for a business owner - you can't do it all and you have to recognize that or your business won't grow or worse yet, it will fail. I also use this inventory in my personal life - Am I a great wife/mother/sister/daughter/friend? yes to all of them (and what are my strengths?). But, I know I can be better (what are my weaknesses?). What can I do to be a better listener, to be more loving.... - Otherwise, I will fall into a rut. So, I really think we all need to take inventory of our lives to keep everything in harmony, to be successful and to be happy.
Sookie said:
04.26.08 1:53 p.m.
How fun to see a quote from me!!! Actually I introduce my self as Sookie spelled like cookie ha ha. It is something that I do to keep my name in your mind. Jennifer I agree you need to take self inventory in you personal life also, if you are a well rounded person in personal life it will cary on into business life.
Jane Chin said:
04.27.08 2:30 p.m.
I personally subscribe to late Peter Drucker's concept that we can only build on strengths and aim to make weaknesses irrelevant. I enjoy immersing myself in the "soup to nuts" process of my own business, which may not be conducive to scaling up where delegation and management layers become critical. Thus rather than trying to manage my weakness, I focus on business models that require agility and a single point of operation. Are there tradeoffs? Of course. But the positive is that I spend my time capitalizing on my strengths rather than managing my weaknesses to fit a model that I'm not best suited for.
Carolyn Kepcher said:
04.28.08 7:33 p.m.
Hi Dorinne To answer your question. YES - you can succeed by playing nice. I have seen the cut throat world - and truthfully the concept is so played. Cut throat managers fail! You cannot build a team with this attitude. I have seen powerful people make their fist and slam it on their desks - often a sign of insecurity. Do your job, do it the best you can and make sure you can go home at night, look at yourself in the mirror ( or tougher -- look at your kids) and tell yourself you did the right thing today. That determines success my friend! There is truth to the saying "its lonely at the top" - think about that. - Carolyn
Dorinne said:
04.29.08 9:19 p.m.
Thank you Carolyn for your time. Rachel M. sent me a link about branding my business,truly appreciated the info. I was reading about positioning and it mentioned warm and fuzzy. That's me! That is exactly the response I want and get from people. I display Mid-Western hospitality to the vendors and the public, it makes me feel good, that I make true connections with them. To me that is success. I know one of my weaknesses is a lack of secretarial skills, thankfully one of the committee members is brilliant at it, another member is a fountain of knowledge, another is still trying to find is voice. As a committee we created a successful first season for the winter market. I can't wait to see what we do next!
Viviana said:
04.29.08 9:51 p.m.
@Dorinne, I highly recommend that you have a look at David Vinjamuri's work. He is an adjunct professor at NYU and the author of "Accidental Branding: How Ordinary People Build Extraordinary Brands" . www.accidentalbranding.com
Robyn said:
05.09.08 4:04 p.m.
Great comments - very useful insights and experiences.
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