Tuesday, 7 May 2019

Learning to use your weak points to your advantage

In the last six decades, management thinkers have reflected and debated on how to increase the effectiveness of organisations. Different theories have been put forward, argued, and often withdrawn. Even nowadays, only a couple of management precepts enjoy universal acceptance. The bottleneck principle is one of those few.

This principle predicts that you will achieve the strongest short-term benefits if you focus your efforts on removing a bottleneck that is slowing you down. For instance, when the production of furniture is being slowed down by assembly difficulties, such bottleneck can be removed by using simpler fastening procedures.

Although this formula has been applied successfully thousands of times to speed up manufacturing and service operations, its application has been rare in the fields of marketing and sales, let alone in the field of personal development. In general, entrepreneurs find it easier to create new products than convincing customers to purchase them. Similarly, people find it easier to complain about life in general than looking for specific steps to improve their situation.

Specific steps

Selling water to thirsty tourists in the desert would place you in the ideal marketing and sales position. In that context, you would be able to charge a high price and hardly hear complaints from customers. Everybody would be willing to buy what you are selling. You would not even need to advertise or make sales presentations. However, most businesses today find themselves in the opposite situation. They are encountering large number of competitors in their market, and have difficulties attracting new customers. They have difficulties identifying the precise steps to take.

In the area of personal development, you will see exactly the same problem that entrepreneurs are facing. People want to achieve higher goals. They want to make more money, live longer, have more friends, enjoy their work more, have more fun, visit more places, and do more of everything with the minimum of effort. Their ambitions are wide, but they are encountering obstacles and opposition across the board. Like entrepreneurs, those who want to improve themselves, have to deal with so many problems simultaneously that they have difficulties defining their priorities.

Whether you are trying to improve your marketing and sales, develop your career, make more friends, ameliorate your health and relationships, or pursuing any other goal, the answer is always the same. You will do better and attain faster results if you just focus on solving the critical problem. It's all about finding the bottleneck that is slowing you down. It's all about finding the rusty tab that is not letting the water through, so that you can repair it or replace it.

Invisible opposition

If you try to apply the bottleneck principle to sales, you are going to face, first of all, the question of identifying the critical problem. In the example of slow furniture manufacturing, you would be able to perceive the assembly difficulties right away. Problems you can see tend to be easier to solve. You can see a rusty tab that is not letting the water through, but can you see the element that is slowing down your sales?

When it comes to marketing, the primary obstacle will frequently remain invisible, but when you assess the situation in detail, you will see that, on many occasions, the hidden bottleneck consists of any of these three factors. First, you lack credibility in the marketplace. Solution: find a simple, fast way to increase your credibility. Second, potential customers are unaware that a solution exists to their problem. Solution: find people who are really hurting due to the problem for which you are offering a solution. Third, there is a high perceived risk of purchasing your product. Solution: figure out how to give free samples or make free demonstrations, so that potential customers can perceive the benefits and surmount their reticence to make a purchase.

In each case, the solution will appear blatantly easy once you have identified the bottleneck. It is not different in the area of personal development. Are you complaining that your are facing so many issues that you don't know where to start? Solution: write down all the issues, and study the list until you have identified which one is hurting you most, which problem you absolutely need to fix in the short term. Second typical difficulty: people tend to remain passive because they are sceptical about their ability to surmount obstacles. Solution: identify just one problem, even if it's a small one, a problem you can solve by taking short-term action. Do what it takes to get the problem fixed, and then you will see your confidence increase. Then turn your attention to the next problem.

The great advantage of the bottleneck principle is that it always works. It can deliver amazing results in manufacturing, marketing and sales. It can literally turn your life around if you apply it in the area of personal development. Once you start employing the bottleneck principle, you will change your mentality. You will acquire a new view of life's problems. Success breeds success, even if you start with small steps. Confidence breeds confidence, well-being and happiness. Learn the lesson from entrepreneurs and marketeers. Identify the most promising, the most urgent, or the easiest problem to solve. Then go for it enthusiastically. The results will benefit you in the short term, and motivate you to move forward day after day.

Text: http://johnvespasian.blogspot.com

Image: Photograph of classical building. Photograph taken by John Vespasian, 2018.

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