I believed that admitting my shortcomings was a sign of weakness. I’ll be the first to admit it here.
If I was unable or unwilling to do something, it felt as though I was slothful and hesitant to venture outside my comfort zone.
Thus, whenever I felt as though there was something wrong with the way I was rushing into nothing, an inner voice growled, “Do you even want to work?”
As a result, I did what any reasonable person would do. I swallowed it up and disregarded my boundaries. The prospect of me being unable to do something felt ludicrous. Anyone can do anything, and I am no exception. The only reason I’m unable to accomplish something is if I’m not motivated or working hard enough.
That is, at least, what I believed. Of course, I was incorrect.
Self-Belief Is Courageous. Being Unaware of Your Limitations Is Stupid.
It all began while I was employed by a digital marketing agency. Though I initially joined them as an SEO executive and content manager, things quickly changed. Within a few months, duties outside of my professional responsibility began piling up on me.
It all started with a routine client visit. Then, without realizing it, I discovered that I was micromanaging the team.
Within six months, I had established myself as the machinery’s focal point. They held me accountable for every single incident that occurred within or around the organization. Nonetheless, I was not compensated appropriately.
I earned approximately $170 per month for an eight-hour shift, even though I was performing all of the heavy labor for clients worth $2500 per week.
“Why am I not doing it for myself?” — I reflected. “I could do it for half the price and still earn ten times what I am currently earning.” Everything made sense.
Now, my startup has earned me far more money than I would have earned in that position. Nonetheless, I would not describe it as a success. I was unaware at the time. However, here is why the majority of clients declined to engage with me:
The majority of high-paying clientele, particularly if they are B2B, will choose reliability over low rates any day. They want their chores completed on schedule, and they are willing to pay a premium for it. They were unwilling to take a chance on me, given my ignorance.
The company for which I worked had a sizable network for acquiring projects and sufficient resources to pay salaries. Though I was in charge of everything, it was their sheer workforce that enabled them to scale. No matter how skillful I was, there was no way I could match a fifteen-unit team’s performance.
Every day, businesses like mine come and go. And, like them, I lacked a long-term strategy. And the clients are aware of this.
Could I now work around these obstacles? Yes, indeed! Then how come I couldn’t? Because I was unaware they existed!
Allow me to quote from one of his articles:
“There is more to success than hard work. You must be capable of developing a successful business plan, cultivating partnerships, and building your brand.”
Thus, yes. Recognize your limitations and use them to your advantage. The majority of folks do not. As a result, it will provide you with a competitive edge.
You Will Never Know What You Are Truly Capable of Until You Acquaint Yourself With Your Limits and Learn To Play Within Them.
Let’s get this over with. No, not everyone is capable of doing everything. A master cook is unlikely to be successful with a brush and canvas. A poet may struggle to succeed as a stand-up comedian. Similarly, your data analytical abilities do not guarantee your success as a drummer.
Recognize your limitations in two ways:
It might assist you in identifying areas for improvement.
You are free to play to your strengths.
If you’re pursuing your passion or attempting to commercialize what you’re most passionate about, take close attention to what I’m about to say.
Pursuing your passion and establishing a business are two distinct endeavors.
For instance, if you are a skilled chef with little to no business knowledge, operating a restaurant may not be feasible. On the other hand, someone who understands how a firm operates can succeed despite not understanding how to cook. Now, if you refuse to acknowledge this simple fact, you will collide head-on with a truck.
How? Listed below are a few reasons. (If you are a chef considering launching a restaurant, this may crush your heart.):
#1. Your ability alone is not a selling point:
Your restaurant’s revenue is not directly proportional to the taste and quality of your meals. It depends on the volume of sales you generate.
Your cooking abilities will not bring you business on their own. It is merely a piece of the puzzle, and probably not even the most important one. Location, aesthetics & design, culinary niche, pricing point, brand authority, and customer service can all make or break your experience.
If you get them right, you can earn a fortune selling ordinary food. If you get them wrong, even if your cuisine tastes divine, it will go unnoticed.
#2. Someone with your expertise can be simply hired:
Again, relying exclusively on your ability to perform anything makes you readily replaceable.
The individual who is unable of making cup noodles to save his life can hire a cook with your skill set. That is what the majority of restaurant owners do, even if they are great cooks themselves. They’re frying bigger fish. As a result, they just establish the menu, recipes, and a basic framework. Then they hire the appropriate individuals to fill up the gaps. That is the point at which scalability occurs.
#3. Lack of market knowledge can lose you of opportunities:
When you open a restaurant solely for the sake of ambition, you are doing everything wrong. You cannot run a business from this vantage point. It’s not about how you’re feeling while you’re cooking. It’s a matter of determining whether the market need your services.
Consider how profitable all those food chain firms are despite not owning a single restaurant.
People desired delectable foods delivered to their homes.
The process of calling, obtaining pricing information, and then placing an order with the restaurant was inconvenient.
Keeping track of all those many establishments was just too complicated.
As a result, they simplified it. They identified a service gap, worked to develop a scalable solution, and the market rewarded them appropriately. If you are unable to read the market, you will lose a significant competitive edge. In that vein…
#4. Your competitors may not be as naive as you believe:
Even if you are unaware of your limitations, your prospective competitors are not. Make no doubt about it. The market is communal. I mean this in the most literal sense. If you choose a bustling city area, you will almost certainly share a street, if not the same building, with other food establishments.