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Slow Down to Succeed in Business


Don't let impatience influence you.

If you want to torture someone, make them wait. Waiting is hell. In fact, I think waiting to see if you are going to hell or not is far more torturous than actually being there.

In business, a few of the standard refrains for this are: "We'll get back to you." "We need to do a bit more research." "Let's run the numbers a few ways, then decide."

I recognize it's hard to wait. But if you let impatience influence you in business, you'll always wind up cutting corners, fudging numbers, and ending up with a product that screams: "Hi! I was cheap and easy!"

There are always two reasons to do anything:

1. The right reason;

The reason that was motivated by speed.

There are always two reasons for choosing the speedy route:

1. Need for control;

2. Feelings of doubt and insecurity.

So when it comes to impatience, keep these things in mind:

1. Fast doesn't always last.

A shortcut is often the longest distance between two points.

It's often better to go for long-term than short-term.

Think of those patient legends Harland Sanders (YUM), Henry Ford (F), or Walt Disney (DIS). I believe the best business people know the right answer to the marshmallow question:

Q: Would you rather have (a) one marshmallow now (b) five marshmallows later?

A: Always hold out for the five-marshmallow business advantage.

Your goal for today: Be aware of all the one-marshmallows you're impatiently reaching for and decide to refocus on the five-marshmallow reward of harnessing patience.
No positions in stocks mentioned.

© Karen Salmansohn

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