Why You’re Not as Good a Leader as You Think—and How to Fix It

Last year, I had the privilege of interviewing Terry Smith on the Hoxton Life podcast.

Terry is someone I’ve admired for years—his no-nonsense approach to investing has made him one of the most successful fund managers in history (Fundsmith LLP manages ￡32 billion!).

And while he’s known for his sharp mind in investing, it was something he said about leadership that really stuck with me:

"You don’t water the weeds and pull the flowers. You pull the weeds and water the flowers."

We should all be nurturing our strengths instead of focusing on our weaknesses.?

It got me thinking about the delicate balance we shoulder as leaders.

It’s our responsibility to understand where our weaknesses are, how to play up our strengths and lead a high-performing team to do the same.?

But most leaders won’t do it.?

Maybe you let your ego block your growth.

You avoid tough conversations, double down on their weaknesses, and cling to your way of doing things—even when it’s clearly not working.

Now, I’m all for sticking to your guns when it comes to your values, but prioritise self-awareness alongside that.?

Get out a notebook, a Google doc, whatever you need, and answer the questions I’ve set out below honestly.?

They have changed my life as a leader and will change yours too:?

1?? Start with a Brutal Look in the Mirror

If you think you’re good at everything, you’re deluded.?

Don’t believe me? Just ask your team.?

A few years back, I would have said my innate intensity and aggression was the driving force for Hoxton’s growth to over $2.5 billion in AUM.?

But that same intensity also makes me short-tempered and impatient when managing people—and it’s gotten me into trouble (the time an entire team quit on me over text comes to mind…??).

Your strengths can also be your weaknesses.?

You have more weaknesses than strengths.?

And you have a responsibility to reflect on where you’re lacking.?

The Harvard Business Review found that leaders who actively seek feedback on their weaknesses are rated more effective by their teams.

So, ask yourself:

• What am I doing that’s actively hurting my team?
• Where am I doubling down on weaknesses instead of asking for help?
• Do I have the guts to listen to the tough feedback?

Remember: If you can’t admit where you suck, you’re not a leader—you’re a liability.

2?? Build a Team That Elevates the Business

The best leaders surround themselves with people who are better than them in areas where they fall short.

For me, I’ve always been a visionary—big-picture thinking is my strength. But I’m not the guy who’s going to obsess over operational details.?

In the early years, I’d forget to email important clients back.?

I would blank on circling back with prospective clients.

And my diary was a complete mess.?

That’s why I’ve hired people who thrive in that space.

This isn’t just about delegation—it’s about elevation.

When everyone on your team is playing to their strengths, it makes the whole team stronger.

According to Gallup, teams that focus on individual strengths see a 12.5% increase in productivity.

That’s the difference between a good year and a great one.

Ask yourself:

• Who on my team is stuck doing something they’re not good at?
• Am I prioritising hiring people who complement my weaknesses?
• Are we operating at 100%—or just coasting?

3?? Tend to the Garden, Constantly

I loved Terry’s analogy so much, but I think if there was one thing I’d add to it, it’d be this:?

You don’t just water the flowers once and call it a day.?

You also don’t ignore the weeds and hope they disappear.

Leadership is a daily grind.

You can’t take your eye off the ball because your weaknesses will creep back in, your team will stagnate, and your business will suffer.

Every time you think, “I’ve got this figured out,” stop yourself.?

Complacency is the fastest way to kill your growth as a leader.

Instead, ask yourself:

• Where am I getting complacent?
• What challenges am I avoiding?
• How can I lead my team better today than I did yesterday?

The Takeaway

If you still don’t get why Terry’s quote is so powerful, let me put it like this::?

If the business fails, it’s on you.

If your team is unhappy, it’s on you.?

If your clients aren’t satisfied, it’s on you.

Your job isn’t just to lead—it’s to constantly improve yourself so you can lead better. In short, here’s how you apply it:

1?? Reflect brutally on where you’re falling short.

2?? Build a team that elevates your strengths and fills your gaps.

3?? Keep tending the garden—because leadership is never done.

This isn’t about being a "nice boss."?It’s about being the best leader for your team and your business.

Let me know your thoughts below—I’d love to hear them.