Slowing down as an entrepreneur may seem contradictory given the common notion of going all out to achieve business growth.
Although some entrepreneurs equate business success with the ability to make impromptu decisions, it ends in tears in most cases. Sometimes, taking things slow gives a clearer perspective.
These rash decisions, at times, result in confusion or, worse, mistakes. What’s the point of speeding in the wrong direction? There is only one outcome: regrets.
Therefore, taking a breather and slowing down your pace might be the best way to ensure business growth. If you think otherwise, here are some reasons you should consider slowing down.
Hasty decisions equal trouble
Some people do not explore all of the possibilities available before making certain decisions. They are hasty and rigid in their approach, which ends in unfavourable situations more often than not.
Slowing down, therefore, helps consider different possible options for dealing with specific situations. It allows you to assess and evaluate the problems and make better judgments.
This way, you avoid making decisions that have far-reaching implications for your business growth.
Mindfulness is the opposite of haste and is an underutilised tool for increasing team engagement and enhancing performance and productivity.
On a team, mindfulness may manifest itself in two ways: collective awareness and individual awareness of what each team member may be experiencing at any particular time.
Individual awareness is crucial as it addresses cognitive issues that negatively affect a team member, leading to interpersonal conflict, stress, and poor productivity.
Slowing down to allow employees to connect with their feelings, needs, and motivations improves a team’s productivity and the ability for invention and creativity.
Unforeseen business threats
It’s exciting to see your business expand in leaps and bounds, but if you don’t take a breather, you’ll be out of breath sooner rather than later. Slow down and take some time to analyse and prepare your next approach.
The truth is that the more the growth, the more dealing with problems gets complicated. In this scenario, the ‘go’ mindset for building your business would not be able to help.
It is, therefore, important to momentarily halt your aggressive approach and incorporate slow strategic pauses into your business plan.
This will assist you in forecasting new threats and markets, identifying present strengths, reviewing growth prospects, and understand and address any underlying problems and concerns. It also helps you pay attention to customer and staff feedback.
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