If the answer is yes, you may have some soul-searching or further research to do. According to this article, which I must admit changed my perspective on things, you may want to take a step back and reevaluate your answer. According to Dunning and Kruger’s published paper from 1999, we already know we have the tendency to inflate our own self-assessments, which can trickle into our companies as well.

The Best In The Business

Have you ever said that phrase? What evidence do you have to back it up? One of the good parts of Dunning and Kruger’s findings is that there is help. Once you have formal training or have fully researched your industry (including talking to your employees, customers, and competitors), you can identify potential shortfalls in your capacities or abilities and boost your company’s chances of success. So, especially if you think yours is the best company in your industry, you should take a step back and evaluate. You may be surprised at what you find.

Every sales person wants his prospects to think his product or service far surpasses any others – and rightfully so. But as the CEO or a member of the executive team, you must not be as naive. As a third-party marketer, I have to keep this in mind every time we meet new clients. Depending on their levels of expertise, they may be truly unaware of their differentiators or weaknesses. This isn’t a job interview in which, when asked your weaknesses, you can say “Caring too much about my job” or “My perfectionist nature.” Let’s get down and dirty. Are your employees happy? Do you have any referenceable clients? Why? Why not?

Confucius is known for the quote, “Real knowledge is to know the extent of one’s ignorance.” Before we boast about how we run the best companies, are the best friends, have the best products, and know the most about our industries, we should take a step back and try to quantify those statements. By doing so, we will continue to grow personally, learn more about our shortcomings, and be better able to help our businesses prosper.