Well Ted Waitt was trying to determine what his abilities were when he dropped out of the University of Iowa in 1984 to work as a salesclerk at a retail computer store in Des Moines. As he learned the sales process he left his sales job and started his own company with his grandmother's CD's as collateral. Ted's company, Gateway 2000 Inc., boosts revenues nearing the 2 billion dollar mark, he insists that the company is not a computer company. The Gateway strategy was not in building computers, but rather in target marketing and unique sales strategies. Marketing and sales was Ted's strength.
Successful entrepreneurs do well because they concentrate on building upon their strengths.
They focus their energies on what they do well, and allow others to fill in the gaps. If product design is their strength, but accounting is their weakness, they find someone else to fulfill the important role of accounting for and tracking the financial resources of the business. Having it all does not necessarily mean doing it all. A realistic strategy built around the entrepreneur's strengths and weaknesses is necessary for long-term success. A well run business, no matter what the size, requires talents for product development, sales and marketing, managing people, planning, recordkeeping and financial management.