Consistency is the Key to a Successful Business
Consistency is the key to a successful business. There is nothing called a perfect product. It is the consistent process of improvement of the product which provides with a competitive edge to the master companies. It is such companies which gets the largest market share.
A medium but steady pace is more fruitful than a fast but erratic one. Constant performance, innovation, research and development are the key to a successful enterprise.
Another repercussion of an extremely fast pace is the quick burn out. Though, the speed might put you ahead of the competition, but you are likely to burn out before the race is over.
The era belongs to the start-up firms. In every cubicle sits an aspiring mind planning to materialize his own innovation. All are in the hurry to flourish their idea before the competitor gets the title of pioneer. This is the usual practice which allures the businessmen, but this is not always the right strategy for a business firm anchored for long term. Steady and gradual maturation along with careful research and long term forecasting gives the firm, the much needed stability and potential to stand against the fierce competition. Quick and exponential growth doesn’t guarantee the longevity of an enterprise. The master mantra of any successful business is, ‘’ Grow or Die”. Slow and steady wins the race only when the competitor (Rabbit) sleeps between the race. One needs to be at a calculated fast pace and consistent to win the race even if the rabbit remains awake. Here, calculated fast pace connotes to the maximum speed justified in view of one’s capability, business demand and competition scenario. One need to be fast, but also avoid exhaustion or burnouts.
Any startup is a risk. But you can ensure that even if you fail, you fall forward. Take a purposeful risk, which will prove even your fall, a meaningful miss.