In business and in life there is a need for urgency. Urgency is understanding that there is a time limit to get something done, once that time has passed, so has the opportunity. Business and business development have moments of urgency, sometimes often. What we need to be careful of is losing our patience when we are dealing with items of urgency.
For most people in business, urgency is easy to create. You have bills to pay, you need cash flow and income to survive, you only have so long of a runway to get off the ground or, maybe, you’re leveraged and have obligations that are coming due or, worse, past due.
Finding and maintaining patience in business tends to be much more difficult. We all want things now. Success, money, influence, freedom. Patience works contrary to what we want. 80% of us will sacrifice greater gains tomorrow for immediate gains today. To achieve greater success in business we need to figure out how to make sure we’re part of the 20%!
In other words, don’t let urgency drive you as an entrepreneur, let patience guide you instead.
Applying patience in your business is the best way to develop a lasting, impactful and balanced business model that can survive the ups and downs of markets and life.
One of the best ways to apply patience in your business? Keep an eye on the larger and longer term vision. One strategy to do this is to write down your ‘why’ every morning.
Writing down your why will help you develop patience. It will help cement in your mind the purpose of what you’re building. It will help you grind when you need to grind. It will help you get back up when you get knocked down. It will help you make decisions based on the greater good of your business not on the short term benefits of your choice. It will help you reduce frustration, expand your foresight and develop both hope and excellence.
In short, patience greatly increases your capacity for long term success in your business. And although it may feel contrary to the sense of urgency most entrepreneurs value it’s one of the greatest ingredients of the greatest business leaders of our generation.
Do you dream about making a lasting impact? Do you have a dream about growing your business and becoming an industry recognized leader in what you do? Are you tired of feeling the need to sell your services to others and want to transition how you run your business so it doesn’t feel like it’s running you? Make sure to join us in the Entrepreneur Mastery Lab where we help you develop the beRICH mindset that we’ve invented to help you achieve the success you’ve been dreaming of. You can access the Lab here!
If you didn’t know we also have a podcast. In our most recent podcast one of the items we discussed was how patience helped shape the way Thomas Wu of Koyoti Inc views entrepreneurship today. You can listen in to our podcast here!