It was a disaster that could not be explained. In past Olympics, US Speedskating had won more medals for its country than other sport. Yet at the Sochi Olympics, no athlete had won a medal in these competitions. Searching for an answer, the team decided it was the new Under Armour Mach 39 suits that they debuted at these games. Athletes were pointing to the meshing on the back of the suit that formed an air pocket that slowed them down. They also pointed to their lack of experience racing in these suits in competition. The US team petitioned Olympic officials to discard these suits and use the one’s that had successfully worn during the world cup season. This past weekend, the team wore their new suits, but the results were the same. No medals in speedskating for the USA.

Small business owners are tempted to blame many things inside and outside of the company for poor results. Instead, take responsibility and implement a solution: For example:

  1. Bad employees. Business owners point to the employees as a reason for their failure. They say “my employees stink. If only I had more money, I could hire better people”. While this may be true, what an employee is paid is not always tied to their effectiveness. The “take responsibility” solution: Do a better job of hiring the right employee. Instead of emphasizing skills, look at their attitude and how they will fit into the company culture.
  2. Tough market. Business owners talk about how difficult their industry is. They say “you don’t seem to understand. My industry is especially difficult” This is true no matter what industry the company is part of. The “take responsibility” solution: Difficult markets mean barriers to entry and exit for competitors. This is an advantage.
  3.  Unfair competitors. Business owners point to the fact that there is not a level play field. They say “our competitors never play fair. They are constantly doing things that may not be illegal but certainly are unethical”. Get used to it. There are very few “rules” when competing for customers. The “take responsibility” solution. Find the company’s sustainable competitive advantage with the customer not against competitors. Creating a loyalty with the customer will be the biggest barrier for competitors.
  4. Strict bank. Small business owners lament that bank lending guidelines are just too strict. They say, “If only the bank would lend me more money, I could have the capital to grow. The “take responsibility” solution: Instead,find sources of cash currently inside the business like reduced or higher turning inventory, reduced accounts receivable and better payable terms.
  5. Too many interruptions. Small business owners complain about the never ending demands for their attention. They say “I could get a lot more done if I wasn’t bothered by email, social media, employees and customers”. The “take responsibility” solution. Set the rules within your work day. Focus on getting two tasks done first before doing anything else. Shut off the global computer and mobile phone interruptions. Schedule all meetings and don’t take the monkey LINK from employees.

What is the “take responsibility” solution for the US Speedskater’s dilemma? Skate faster than their competitors.