Key Competitive Capabilities and Weaknesses

Key Competitive Capabilities and Weaknesses: It’s hard to write about your firm’s weaknesses because you are so to close to them. So for a few minutes think of yourself as an outside analyst or a business reporter.   What weaknesses might they identify? Because a careful examination of your business (especially if it is a new business) could turn up almost limitless weaknesses, you need to decide which are the most immediately or severely threatening weaknesses and focus on them in depth.   Simply listing every functional area of your business and explaining how the competition is so much bigger or better will not help you. Instead you need to prioritize your focus. [WooZoneProducts asin=”B005ZK9F38,B007MUKFN8″][/WooZoneProducts]   You should also explain what steps you can take to offset or minimize possible weaknesses. You might ask `Why should I list any weaknesses if I’m trying to attract equity investors or get a bank loan?`   Bankers and investors know that every business has weaknesses and risks. And it can save them time if you can summarize the risks for them. But just as importantly they want to see that you are aware of your weaknesses and that you intend to take them into account in running your business.