Slow And Steady Wins The Race
“It’s easy to get caught up in the belief that bigger, faster and cheaper is the only way to success.”
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Slow and steady wins the race
In this crazy world of instant messaging, 24/ 7 news channels, and same-day delivery it’s easy to get caught up in the belief that bigger, faster and cheaper is the only way to success.
This week, I delighted in reading Jim Collins’ book Great by Choice which shows how some “slow by choice” businesses consistently beat the competition even when the economy was turbulent and uncertain like it is right now.
The book reveals how 10x businesses out-performed their competition over the long term despite being more risk-averse, slower with their average growth rates, and less innovative than their competitors.
The book argues that a healthy attitude to risk, looking ahead to identify possible challenges, sticking to consistent annual targets, keeping a healthy financial reserve, and avoiding “all or nothing” decisions that gamble the company’s future, deliver the best results over the long term.
I am mindful in today’s economic state when everyone is frantic to see small businesses succeed and create jobs, and many entrepreneurs are placed under unreasonable pressure to perform, that our task is to stay sane, remain balanced, and play the long game. The casino is the realm for gambling; business is the realm for wise and measured decisions!
This week, let’s remind ourselves that slow and steady wins the race, even if it can feel painful at times!
With kind regards,
Catherine
