Something I’ve realized lately in my consulting work is that every company has a “lemon factor”. Mine is no exception, by the way.
And if you don’t quickly get clear on what it is, it will come back to haunt you.
Now that I’m aware of this truth, I ask my clients the question up front, what is your lemon factor?
They won’t always know or be able to accurately assess it themselves, so it’s my job to investigate just to be sure.
This knowledge is crucial for helping companies grow. Most of us are partially or completely blind to them. We get used to them.
What is a lemon factor?
A lemon factor is basically your biggest weakness. It’s why people shouldn’t or don’t buy from you most often.
Maybe you’re in an undesirable part of town or maybe you’re a jack-of-all-trades and master of none.
Whatever it is, it’s crucial you know what’s your lemon factor is so you know how to compensate for it.
What is the best way to compensate for it?
Double down on your X factor.
Your X factor is the thing that gives your company an edge. It’s your competitive advantage and the thing that makes you uniquely compelling.
Both the X factor and the lemon factor are essential things to be aware of so you can mitigate risks and compensate by focusing on what you do best.
You can’t ignore the lemon factor—both in your own business and your clients’. All businesses have them.
If you do ignore the lemon factor, it will become a blind spot in your work that will severely limit your potential down the line.
Know your lemon factor and compensate with an equally strong (or stronger) X factor.