The one constant in business is change.
Starting this week, you will be receiving my newsletter bi-weekly rather than weekly because of a change in priorities in my business. I have spent the last year or so building a solid foundation for the consulting side of my business. This year my focus is on building the speaking side of my business, which requires more time and more focused effort.
But change is just part of any entrepreneur’s life. And the sooner you accept that and the better you become at recognizing when it’s time for a change in your business, the faster you will grow. Money likes speed.
In Napoleon Hill’s classic book, Think and Grow Rich, he discusses the importance of making decisions quickly and without delay. This same logic also applies to the ability to change.
You just have to look at the condition of a couple of the larger retail companies that will probably be out of business over the next few years to see the effects of not making decisions and not changing quickly. Their inability to make decisions quickly and adapt to change is the result of corporate bureaucrats making fear based decisions to either save their jobs or make themselves appear more desirable for the next promotion rather than making sound business decisions. And if they make a bad decision, it can usually be overlooked … for a period of time.
As a small business owner and entrepreneur, you do not have the same luxury afforded corporate bureaucrats. The stakes are much higher, and the decisions you make could have an immediate impact on your business and an immediate impact on your income.
So procrastination, inability to change quickly, and slow decision making are not an option for you because these three things will destroy your business.
Think about the times in your business (or in your life) when delaying a decision or not making one at all cost you money. If you have been in business for any length of time, you can think of a couple. Unfortunately, quick decision making skills can only be acquired from making mistakes, hard-earned experience, and being in the trenches.
The key is to learn your lessons quickly, don’t dwell on your past mistakes, and be flexible. Accept change as part of doing business.
What change do you need to make in your business? Make the decision today to implement the change and stop procrastinating.