• Time. First, if you struggle with an area, you waste valuable time on it and do not produce good results. Someone who has worked with a small business accounting package can set up the finances of your business in a few hours. It might take you much longer—and with much more frustration. If you have never raised money before, you’ll discover it’s an adventure, but one that thousands of others have already mastered. Instead of spending your limited time struggling, use it to find someone who specializes in your problem area. This saves valuable energy and an unnecessary expense of time.
• Leadership. Second, when you acknowledge your weaknesses, you send an important message to your team. They see a leader who is candid about his or her strengths and limitations, and demonstrates a willingness to put the business first by reaching out to others for help. It also suggests to your team that you can look at yourself critically and choose the health of the business over your own ego. Leaders who think that they are good at everything, and stubbornly persist in this perspective despite clear evidence to the contrary, strain their credibility with those around them.
• Third Parties. Finally, investors and other third parties look for leaders who understand that, while they may be talented entrepreneurs, their skills need to be complimented with other assets in order to grow the business appropriately.

Identifying where your skills can be supplemented or complemented can quickly accelerate your company’s growth. Once you recognize these areas, you can plan accordingly. Look for a variety of resources whose experience balances yours. Find support from specialists or those with extensive experience in an area you are lacking. Their ease and efficiency will translate into your own effectiveness. Being candid with yourself and your constituents is not a weakness. It is a strength. Leaders, who recognize their deficiencies and encourage others to do the same, gain respect, solve business issues more efficiently and set the foundation for well-run companies. There’s also a good chance your day will be much more enjoyable.