Are you running your business like a Sprint or a Marathon?
Are you running your business like a Sprint or a Marathon?
I was listening to a very successful investor this morning and he made a very astute observation about investing.
The reason for his success was that he said, “When I first started investing, I treated it like a sprint. I’d always be anxious and worried about the performance of the next 100 meters and I always lost money that way. I unlocked success when my mindset changed and I started treating it like a marathon. I am not focusing on the results today or this week anymore. Over the long haul, it evens out.”
Makes sense, yeah?
You run a business, and all that matters is whether you make money today and get caught in that cycle. Taking more and more desperate measures to create results today but never investing in the long-term cycle.
Business just becomes an endless grind and eventually, you tire out.
It sounds familiar. I saw that happen to a lot of entrepreneurs right before my eyes. Talented people, people who could have done so well. Unfortunately, they never focused on the bigger picture.
I have to admit, I’ve been like that too. Focusing on quick fixes, but not since the last couple years. I learned the lesson that this investor learned. Business is a marathon. It’s won by staying power, not the power to sprint ahead fast.
-Build a product that can stay.
-Build service systems that stay.
-Earn customers that stay.
It does take longer but like everything that compounds, the results are substantial when they add up. It’s better than churn. Better than looking for a new set of customers every 3 months.
What do you think about that? Does that make sense to you?
Is your business model one in which you focus on creating a lasting connection or do you never see your customers again?
Let me know.
By the way, one of the best ways to build a lasting relationship is to write a newsletter. This one is IM, so I can’t send it over an SMTP, but if you have a newsletter that’s on another topic, you can send it very cheaply using Amazon SES or another SMTP.
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Cheers!
Cyril “Jeet” Gupta
