How well does your organization assess its own capabilities versus competitors?

Our reader poll today asks:  How well does your organization assess its own capabilities versus competitors?

• We drastically overestimate our capabilities.: 22.3%
• We overestimate some of our capabilities.: 37.7%
• We accurately assess our capabilities.: 28.6%
• We underestimate our capabilities.: 8.6%
• We drastically underestimate our capabilities.: 2.7%

A little overconfident. Overestimating your organization’s capabilities can be a huge strategic mistake. If you push your beliefs of greatness too far, you’ll create strategic blind spots that are easy for your competitors to exploit. Before you know it, the market will offer it’s less-than-flattering assessment of your capabilities. A rigorous approach to evaluating your capabilities is the key to staying humble and staying safe in a threatening market environment. Actively participate in these assessments on a regular basis. Question your beliefs about your capabilities. Challenge your assumptions. It’s best that you challenge yourself before your competitor challenges you.

Do you agree with these poll results? Let us know in the comments below!

– Mike Figliuolo at thoughtLEADERS, LLC

Did you enjoy this post?  If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog.  It’s free, fun, practical, and only a few emails a week (I promise!).  SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!

These results were originally a SmartPulse poll in SmartBrief on Leadership which tracks feedback from more than 210,000 business leaders. Get smarter on leadership and sign up for the SmartBrief on Leadership e-newsletter.