“Speed is everything. It is the indispensable ingredient in competitiveness. Speed keeps businesses – and – people young. It’s addictive, and it’s a profoundly American taste we need to cultivate.” Jack Welch
This means that as small businesses, our challenge is to ignite hunger, appetite for change, customer focus and to see change and to act on it faster.
I attended a Board of Directors meeting this evening. The president presented an agenda that was geared at improving the “Status Quo”. His goal was to make sure the comfort level he has achieved with his small business remained the same. Although he has experienced no growth this year he was comfortable with his current income and did not see any reason for change.
In my opinion, small businesses operating at a low-speed in this increasingly fast changing and complex world are doomed for failure. As a small business owner you must always work with a sense of urgency and keep your eye firmly fixed on growth.
The AI (Artificial Intelligence), Virtual Reality, and other technological advances are disrupting all businesses. As small business owners you have a great advantage and this is the Be Fast on adapting to change; you have to change faster on the inside of your business than the world is changing on the outside.
Fast companies don’t need to waste time in long, drawn-out deliberations before making a decision to move forward. Truly fast companies can tell you what they do, how they do it and why they do it, in only a few words. Knowing this, as a small business owner you have the basis to make fast decisions.
The greatest threat to the success of a small business doesn’t come from competitors, a bad economy, or even random acts of God. The greatest threat comes from inside the head of the business owner.
As a Be Fast small business owner remember that there is no such thing as enough facts upon which to move forward. If you wait for that magic moment, you will never act. As a small business owner, God gave you the gift of intuition which is the ability to make fair assumptions.
Become a fast-growth business!
MAKE IT A GREAT DAY!
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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