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1. Identify the things in your business at which you excel. (engineering, negotiations, developing strategic alliances, analyzing company financial statements, selling big accounts, creating team atmosphere) *
2. Identify items you listed in #1 for which you have a driving passion to do. (engineering, negotiations, developing strategic alliances, analyzing company financial statements, selling big accounts, creating team atmosphere) *
3. Which of the items identified in #2 are in harmony with your basic personality or behavioral nature—in other words, you don’t have to force yourself to adapt to them in order to excel at them? (engineering, negotiations, developing strategic alliances, analyzing company financial statements, selling big accounts, creating team atmosphere) *
4. Which of the items identified in #3 have “Big Picture” potential for your business? (engineering, negotiations, developing strategic alliances, analyzing company financial statements, selling big accounts, creating team atmosphere) *
5. List any miscellaneous items that you consider to be Competitive Edge Strengths. *
Create your 100-word Personal Competitive Edge Strengths statement *
1. Identify the strengths that exist in your family life. (strong marriage, great parents that helped bring about my strong sense of self-confidence, strong support system among close relations, close relationship with grandchildren) *
2. Identify the things about your personality that you believe to be strengths. (tenacious, very consistent, self-motivated, very grounded in spiritual beliefs) *
3. Identify the factors relating to your health that are strengths. (high energy level, good cardiovascular system, weight under control, low cholesterol) *
4. List any miscellaneous items that you consider to be Personal Non-Business Strengths. (communication skills, two long-term friends I have had for decades) *
Create your 100-word Non-Business Personal Strengths statement *
1. What tasks or responsibilities do you dread doing in your business due to the wide gap that exists between your natural ability and personal aptitude and the ability and aptitude needed for the job? (selling company services, reviewing financial statements)
2. What work situations involving conflict create a clash between your natural behavioral style and the style you must adapt to in order to get those jobs done? (handling employee conflict, firing employees, conducting employee reviews)
3. Do you have difficulty keeping business relationships separate from your personal life? If so, briefly explain. (get too friendly with my employees, managers and suppliers, which has caused accountability problems)
4. Are you overly time-committed to your company because it is too dependent on you? (am basically a slave to my business because I have no other employees who can handle the key functions in the business)
5. Do you have an “I” mentality or a “We” mentality? (encourage my employees to take initiatives, but do not give them as much credit for their ideas as I should, believe that unless I do it myself, it will not get done properly)
6. Do you have trouble getting your work done because you take on more than you can handle and lack the ability to say “No”? (continually take on too much because I am unable to properly delegate daily duties, have trouble saying “no” when work needs to be done and I am asked to help)
7. Do you have difficulty imposing self-accountability? (no one is going to impose accountability on me and often I let things slide, often wait until the last minute to do important things, because I am busy putting out day-to-day “fires”)
8. Do you have knowledge deficiencies in areas where specialized knowledge is needed? (want to franchise my business, but have no background in franchising)
9. List any miscellaneous items that you consider to be Personal Business Weaknesses.
Create your 100-word Personal Business Weaknesses statement *
1. Do you have trouble finding the time to just relax because you take on more commitments with family and friends than you have adequate time for? (I have great passion for family involvement, which results in an over-commitment of my time)
2. Do you have trouble finding the time to just relax because you take on more civic commitments than you have adequate time for? (my active involvement with non-profit and political causes results in an over-commitment of my time)
3. What are the physical or health-related weaknesses that negatively impact your life? (overweight, heart problems, in remission from cancer)
4. What family issues exist that negatively impact your life? (child with drug habit, child with disability, unhappy marriage, poor communication with wife and kids)
5. List any miscellaneous items that you consider to be Personal Non-Business Weaknesses.
Create your 100-word Personal Non-Business Weaknesses statement
1. What weaknesses do you have that have the potential to be turned into “Big Picture” opportunities? (My current knowledge of business financing is extremely weak. I have the ability to learn business financing techniques which could lead to the funding my company needs to finance a major expansion)
2. How could your work time be better directed toward making greater use of your Competitive Edge Strengths? (am so caught up in daily details that I only use my Competitive Edge skills during 30 percent of my work time, delegating my current accounting tasks to others would open up an additional 20 percent of my time to use for “Big Picture” areas such as strategic planning)
3. What educational and advisory situations are available to you for improving your abilities as a business owner? (joining a peer advisory board, taking a leadership-training program, going back to college to get my business degree)
4. Is there an opportunity now, or in your near future, to take a breather from business growth in order to emotionally refuel? (could add new stores next year, but company will not suffer if I don’t)
5. Are there opportunities relating to your business that have potential to benefit you personally? (potential investor wants to invest enough in my company to get the bank to remove my personal guarantees for the company bank loans, could take my company public and turn a portion of my stock into money that could be invested outside the company)
6. Is there a family member with an interest in entering your business who has the ability to be important to the future of the business? (my son has indicated an interest, have never asked my family members and do not know if any would be interested)
7. List any additional or miscellaneous opportunities relating to your business that exist.
Create your 100-word Personal Business Opportunities statement
1. What could you do to create better mental or physical health for yourself? (lose 50 pounds, meditate daily to reduce stress, work out three days a week, stop smoking, reduce daily alcohol consumption)
2. What mentally stimulating activities outside of work would you like to incorporate more fully into your life? (traveling, reading, writing a book, painting)
3. What situations exist within your family that could enrich your life? (spend more time with my new granddaughter)
4. What could be done to strengthen the personal relationships that are most important to you? (reestablish relationship with my spouse/partner, dedicate more personal time to my friends)
5. List any additional or miscellaneous Non-Business Opportunities that exist.
Create your 100-word Personal Non-Business Opportunities statement
1. Is there a risk that there is no one trained to take over your business if you become incapacitated or die? (have no provisions for anyone to take over if I become incapacitated or die, have Key Person Insurance that will protect the company and pay for the hiring of someone to run the company until it is sold)
2. What financial risks leave your personal assets exposed? (company failing to make its loan payments could result in bank going against personal guarantees of the loan, investments, company too dependent on personal retirement funds vs. business offerings)
3. What company-driven threats have potential to negatively impact your personal life? (loss of company controller due to death, incapacitation or leaving company)
4. What additional threats exist that could have potential negative impact on your personal life?
Create your 100-word Personal Business Threats statement
1. Are there situations within your family that have the potential to compromise your personal success and happiness? (troubled marriage may lead to divorce, child’s relapse into drug abuse, health problems of aging parents may cause time constraints and expensive medical care)
2. Are you vulnerable to any recurring risks of a natural disaster? (Live and work in outer banks of North Carolina which has high hurricane expectancy, live in area that is at high risk for forest fire)
3. What additional Non-Business Threats exist that could have potential negative impacts on your personal life?
Create your 100-word Personal Non-Business Threats statement