Win the wait
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One of the most common issues we see with entrepreneurship is quitting too soon. An entrepreneur or business can be in the right place at the right time, but just not be able to hold on long enough to be truly successful.
We’re going back to some 7th grade math, so get ready to dust off that section of your brain.
As human beings we are wired to expect growth to come in a linear fashion. We are taught from a very young age that the output you get depends on the input you give.
But in reality, the output has very little to do with the quantity of input, but rather the quality of input.
Think of the hardest working person you know. They probably work in an industry like construction or farming as a laborer.
Now think of the richest person you know. Do they work as a laborer all day?
You see, becoming an entrepreneur is all about being able to push past the linear growth and get to the exponential part.
Linear growth seems at first to be awesome. You’re growing your business and your income bit by bit. But after a while you notice your competitors that seemed so small are surpassing you in all visible metrics.
Look for ways to exponential, not linear.
How do you grow exponentially?
Win the wait. It will be hard at first. You’ll have to push through some difficult times to get through the first awkward stages. Sometimes exponential growth looks a lot like this.
Don’t be the bottleneck of your own business. Don’t let everything rely on you, because you will always hold the business back. Build processes and practices that teach your employees what to do in a certain situation.
Quit banging your head against the wall. There is a fine line between winning the wait and relentlessly pursuing an idea that probably isn’t a good one. It’s important to have a circle of friends, a mentor, and peers who you can ask questions and get honest feedback from to help you know if you are pursuing a worthwhile idea.
Bonus content
For more on this idea, check out these previous articles:
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Most people are familiar with the book 7 Habits of Highly Effective People. The author, Stephen Covey walks through 7 habits that are designed to help the reader to be more effective. Be Proactive Begin With the End in Mind Put First Things First Think Win-Win
The subtle art of charging more for less.
I have personally cold called thousands of local service businesses. Storage Units, HVAC companies, Plumbing, Electrical, Roofing, Landscaping, you name it and I have called it. One of the interesting patterns I notice is that these business owners often say “We’re at 100% capacity right now.” I had a guy tell me recently “All I have to do is sneeze and …
Also, this YouTube video has some great insights on pushing through linear growth to exponential growth, building a support group, and finding a mentor.
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