Business owners face a constant dilemma: they need to develop new capabilities to grow their businesses, but they have limited time and competing priorities. The traditional approach of trying to develop comprehensive expertise in every business function simply isn't realistic.



The solution is what I call "Minimum Viable Competency" – identifying and developing just enough capability in each area to effectively lead that function without becoming the primary practitioner.

For example, a technology business owner doesn't need to become a marketing expert to lead marketing effectively. They need just enough marketing knowledge to:

1. Hire the right marketing talent
2. Ask intelligent questions about marketing performance
3. Connect marketing activities to overall business strategy
4. Recognize when marketing isn't working as it should

This approach focuses development efforts on the critical integration points between business functions rather than deep technical expertise in each area.

A manufacturing company applied this concept by identifying three key financial metrics he needed to understand thoroughly, rather than attempting to master all aspects of accounting. This focused development gave him sufficient financial competency to make informed decisions, without requiring him to become a financial expert.

Similarly, a service business owner identified the minimum client management skills her team leaders needed to develop. Instead of trying to replicate her 15+ years of client experience, she defined the specific conversational frameworks and decision authorities team leaders needed to handle 80% of client interactions effectively.

Minimum Viable Competency isn't about cutting corners or developing shallow knowledge. It's about strategic focus – developing the specific capabilities that create the greatest leverage for your business at its current stage of growth.

By concentrating on these high-impact capabilities rather than trying to become an expert in everything, you make development practical within the constraints of a busy business owner's life.