Part of being a business owner is accepting that there will always be list of issues that need figuring out. For those who are used to having all loose ends cleared up at the end of every day, it can be difficult to adapt to a life without perfection.
The instinct for those who see themselves as perfectionists might be to wait until they’ve got their house in order before driving the business in a new direction. But this propensity to say “not yet” could be damaging for the business, says Solomon Thimothy, founder and CEO of US marketing company OneIMS.
Writing for the Entrepreneur website, he highlights why you can’t always afford to wait until all your Ts are crossed and Is are dotted:
1. Competitors will take advantage
There is a competitive advantage in being first to market with a product or service. Biding your time and waiting to get everything all lined up nice and neatly might provide competitors with an opportunity to make the first move.
Look to the software industry for inspiration. In this world, businesses understand that nothing is ever perfect and release new features knowing that they will have to make some minor tweaks. As long as user experience of the product isn’t terrible, consumers will forgive a few teething problems. Striving for minimal viability can be a way to enable progress and development which aids learning for everyone involved.
2. Growth will be stilted
Resource planning is part and parcel of healthy growth. Often, a good resource plan will involve hiring new talent before you truly need them. That way they have a chance to settle in and get used to the business before the growth drive begins in earnest.
Waiting to hire until you absolutely need the extra manpower can result in bad decisions, with greater pressure to get someone through the door to help implement the growth strategy. Invariably, these hires will not be as strong as they could be, leading to growth that is not as transformational as was envisaged.
3. Success will be delayed
Fear of failure can be just as damaging as overconfidence when it comes to building a successful business. By constantly saying “not yet”, you are not giving yourself or your business the chance to thrive and be as successful as you have the potential to be.
Sometimes, it requires the input of someone objective to tell you whether your business is ready or “not yet ready” to make its move. Agnentis Partners has an experienced team of business owners ready to give their expert advice. We can help you personally and professionally to become ready to move forward and achieve.
