A cursory way to determine your personal strengths is to assess what you have the highest ROI (return on investment) for your time. Said another way - your strengths are what can you do better and faster than the average population.
You only have so much time in life. You only have so much time to spend on your business. Time is your most precious, limited resource.
You want to have time to pour into relationships, recharge, enjoy others and grow personally. If you give the business all your time, you won’t be able to do those things.
It’s really easy to become consumed by your business.
After all - the more time you put in, the more money you make, right? Wrong. Let’s work smarter, not longer. Let’s pour into what our businesses can do better and faster than the average.
Let’s look at an example
Say you’re a solopreneur and you offer 3 different types of services in your business. Each service takes a different amount of time and each clears a different amount of income after expenses.
Service 1 - 4 hrs for completion - $400 net income
Service 2 - 5 hrs for completion - $350 net income
Service 3 - 2 hrs for completion - $550 net income
Have you evaluated your products and services this way before? When you examine the services in this example, you see that Service 3 has the highest return for the time invested. It’s pretty clear then that you should change gears and focus on Service 3 in your business.
Here is the crux of running a business
But what if 90% of your sales comes from Service 2? What if you establish relationships with your customers because of Service 2? What if the service you most enjoy performing is Service 1? What if you hate doing Service 3?
ROI of time is likely not the only factor in determining your service offerings. There may be hundreds of different factors that go into that decision. Or it may be as simple as easily cutting services based on ROI for your time.
No matter what - value your time
Either way, ROI of time should be taken into consideration when managing your business. Your business’s unique purpose should be derived from its strengths. Pour your time into its strengths (which should be what it can do better and faster than the average) to maximize ROI.
You can always diversify services after you’ve grown and are able to expand. For now, look into maximizing ROI for time to gain more of your most limited resource back.