PATIENCE and PERSISTENCE

“There are times to stay put, and what you want will come to you, and there are times to go out into the world and find such a thing for yourself.” ― Lemony Snicket

Patience is a virtue inherent in everybody that is not easy to be exhibited nowadays. Fortunately, it can be cultivated
and nurtured over time. Patience can be relaxing and full of peace of mind: and brings about quality of life. But, patience is not the preferred virtue for business and success in life. Why is this so? Discussions about business and entrepreneurship often boil down to the difference between patience and persistence.

Persistence describes the ability to push continuously towards a given goal or target, against all odds. It is about tenacity, drive and stubbornness. It is a common quality in people that is hardly maximized. But, patience just seems to be the ability to ride things out — to wait until good things come your way without necessarily taking bold steps and dare, to make it happen. Every entrepreneur needs persistence with a dose of patience.

A virtue for founders

Startup founders need persistence because everything always takes longer than expected when starting from scratch, or when trying to bounce back from certain setbacks. It can be difficult to keep things going when you're not seeing desired growth and success. It can be frustrating when you are faced with multiple rejection and hiccups. And, it will astonish you to know that countless successful entrepreneurs have a similar story to share.

Persistence is also crucial because you're bound to make mistakes on your way, some big and some small. According to a character in the movie Transformers, “Messing up is a part of being human” but, learn to learn and improve from each mistake. Never give up too early, you don’t lose the opportunity to learn from your mistakes; it is a common habit among successful individuals and entrepreneurs.

A virtue to frown at

In life, many smart people never succeeded as entrepreneurs, or in their career. Some people attribute it to bad luck, but one of the main reasons why individuals and entrepreneurs never get their ideas or ventures off the ground is that they wait for things to come to them. Patience! I don’t quite agree to the idea that if you work hard and pay your dues, success will come. “Success never comes to anyone. You need to go out and grab her.” My mentor once told me. You need to go out to grab success.

On the other hand, let us look at IMPATIENCE. It is an integral part of leadership that cannot be displaced. Any individual or leader that succeeds in a goal or vision has passion and impatience that is compelling him to act until the goal or vision becomes a reality. Some people might call this "drive" — either way, it's an unwillingness to just sit with the status quo.

Salient points:

So what does any of this mean for those of you who are building a product or dreaming of starting a company?

1.   Don't wait for a perfect moment or situation to start a business. You don't have to have all the pieces in place or everything figured out in order to get going. Start small and move from there.

2.   Don't expect someone to hand you an opportunity. Nothing worthwhile ever simply comes to you just like that; you must consciously walk towards it.

3.   Don't wait for your product to be perfect. Think about Mark Zuckerberg's saying, "Done is better than perfect."

4.   Don't sweat the small things that are out of your control. If you're sitting in traffic or waiting in line, no amount of restlessness is going to help the situation. The more frustrated you get, the less energy you'll have to spend on the things that matter. Be smart about situations.

5.   Realize that no one else will be on your same timetable. It's your job to convince others of the importance of what you're trying to do, and communicate that sense of urgency. You won't be successful if you continually push people without getting them to buy into your vision first.

6.   Don't give up if things take longer than planned. Look for signals that you're on the right track, keep your burn rate as low as possible and keep moving forward. Remember to always believe in yourself.

As individuals and entrepreneurs, learn to master the above salient points. Skip procrastination as much as possible and complain less, if at all. Maximize every opportunity, for they will not come again in similar manner.

Also read: Life& Excellence, Starting Business from Diaspora, Challenging your Status Quo, How to Get Ideas, Sex & Business and You Can Do It.