By Charlotte L. Hanna CMBS Global
Patience. It is a desirable virtue, right? From a young age, we are encouraged to practice it. Yet, patience does not seem to be the cornerstone for most of today’s business operations. Quite the opposite appears to be true when we view the daily, fast-paced frenzy of the business world.
Drive-thru convenience for foods, beverages, banks, pharmacies – even marriages – has become the norm. We don’t want to wait on anything. Instead, it offends us to wait. Most of us have been conditioned to expect whatever it is we want or need to be delivered to us instantly. It’s not uncommon to ask, “How fast can you get that to me?” or to respond with, “I’ll have that to you A.S.A.P.!”
Instant, Direct, On-Demand… are just a few of the descriptive terms regularly used in today’s marketing, aimed at satisfying society’s lust for immediate fulfillment.
As an entrepreneur, how patient are you? How patient should you be – and how patient can you afford to be?
It has been said that there are three things consumers look for:
And it has also been said that it is rare, if not altogether impossible, to get all three in one product or service. In other words, you can choose Fast and Cheap – but you will forfeit Accuracy. You can choose Fast and Accurate, but it won’t be Cheap.
Patience is not about the speed with which something is accomplished or acquired, as much as it is about knowing when to wait, and when to move. It is not about getting what you want when you want it – it is about knowing how to wait until the right moment to get what you want. Patience says, “I am going to wait for the best (timing, quality, place, situation, position) because I want the best results. I want what is most beneficial.” That is why patience is a virtue, and that is why being impatient can lead to less than optimal results in business.
“For anything worth having one must pay the price; and the price is always work, patience, love, self-sacrifice – no paper currency, no promises to pay, but the gold of real service.” – John Burroughs
Speed is the rate at which something is produced or served, and Quality refers to the condition of a service or product produced, but it is Patience that can ensure the ultimate success of the product. Instant gratification is not the answer for those who desire to be around for the long haul in business. A quick fix, though helpful in the moment, is short-lived. Long-term solutions provide the return on investment most consumers and clients are looking for.
Impatience leads to frustration. Impatience can produce inferior quality. Impatience leads to mistakes, oversights, thoughtless actions, and waste. Impatience can doom a great idea and kill opportunity.
Patience, on the other hand, realizes the most payback for hard work and sacrifice. Taking the time to thoroughly consider an idea, improving on its strengths and benefits, and then carefully implementing it – or investing in learning and understanding all you can about your niche market’s needs and wants – will never leave you empty handed. Spend your time and efforts to build a great team. Don’t be afraid to wait for the optimum time to launch your new business, product, or service.
Patience is not laziness. It is not inaction, or the inability to decide or produce. Patience is not about being irresponsible or unconcerned. Patience is another word for self-control. Patience is freedom. Patience alleviates stress. Patience breeds patience. Patience suggests confidence in the midst of chaos. A patient person is approachable. Patience invites others to spend time and share – encouraging relationships and building trust.
Patience is good for business. Provide a well-thought out solution, in a timely manner, with proven effective results, and the market will gladly wait in line to pay you for what it is you offer.