We work in a fast paced, constantly changing , technology driven world. We expect things to happen at the speed of a click of a mouse. We compose short, coded text messages and long, complex e-mails and expect an instant response at any time of the day or night. More and more, our wireless devices have become permanent accessories. There is no longer a separation between our personal and professional lives as we can be contacted by e-mail and we feel compelled to respond lest we miss something important or we are seen as lacking commitment to our job, work, clients, colleagues and organization.
If we want to grow and succeed in business, we believe that we must be quick and responsive in providing new products and services to our clients or risk losing our competitive advantage and resulting profits to the competition. Businesses want to grow and expand quickly so they can increase their market share and their profits and revenues to satisfy their investors. These businesses become attractive acquisitions to larger businesses and if acquired, can result in a substantial return on investment to owners, employees and shareholders.
If you recall the Aesop fable about the tortoise and the hare, it was the slow and steady tortoise that won the race instead of the fast and flighty hare. I believe that slow and steady is the sustainable speed for business success. We often read about a successful and established business that has failed because it embarked on a rapid yet ill-timed expansion only to emerge from the euphoria of growth to find itself carrying a punishing debt load without the revenue and profits to sustain it.
Even though you may feel tempted to grow your business quickly because of the pace and speed of technology and the pressure of client and investor expectations, choose slow and steady – you will not only win the race, but you will see also have a consistently successful business for many years to come. Your clients and investors will admire and your competitors will fear your commitment, constancy and consistency.