Monica - The trick is to create urgency without it devolving into impatience. If you act urgently, you accomplish important things with minimal wasted effort. If you act impatiently, you get the low-hanging fruit out of the way in order to accomplish something. Urgency produces action; impatience produces activity.
If you don’t have urgency, others beat you to market, or you die from analysis paralysis or the perils of perfectionism. If you are impatient, you dither away your potential and your first mover or fast follower advantage.”…they need to get things right” – depends on what “right” means, doesn’t it? The Pareto Principle applies – spend the 20% effort to get an 80% solution, but you can probably wait until V2 for that last 20%.
Every first-time young entrepreneur believes that the first company he or she builds will be the next Google or Facebook. I know, because I thought the same exact way. The entrepreneur becomes impatient when momentum slows down, cash flow starts running out, and the company doesn’t have that same fun and vigor like when you were first starting out. The entrepreneur starts to get impatient with the marketing, finance, and IT departments because he doesn’t know where else to take out his frustration. I think that patience is a quality that all great entrepreneurs have. Patient entrepreneurs understand that a new social media marketing campaign will not produce exponential growth immediately. As a follow up, I believe the best consultants are able to fill their clients with confidence and tranquility. The consultant’s job is not only to generate money, but it’s also to make the life of the CEO much happier by taking care of his business.
Monica, this is a great post. And I think you’ll be happy to know that two people sent me the link and told me to read it The point you make about how sending a mass email is easier than making a meaningful connection with a few people – that’s so true. It’s about asking ourselves really, what is productivity and what is BS?
I would have to agree. Understand that not everyone is going to jump on board. Continue to push towards those that have the influence to speak louder than you do. Those are the ones that are going to challenge the market. Your there to simply introduce the market to them.
I completely agree with you. I never meant to imply that start-ups should get all the data or wait until something is 100% ready before they put it out there.
There was a study done on the microcomputer industry in the 1980′s that found that companies who made fast decisions did well, and companies who made slow decisions did poorly. The fast decision makers were obsessive about the feedback they received from the market, which is ultimately how they made their decisions faster.
At the same time, there is something to be said about the study – namely that the results may be a case of survivor-select. In other words, the companies that made fast decisions and weren’t successful simply drove themselves into the ground faster and weren’t around by the time the study was conducted.
My professor ended his point with, “Stupid and fast is a bad combination. If you are a stupid company, you’re better off making slow decisions.” The quote cracked me up
So there is a definite balance. Thanks for the comment!
This is the strategy I’ve taken so far. Actually, my strategy may be more like “muddle with a purpose.” In other words, further your cause when you can, let them do things their way when you can’t convince them, and wait for your next chance to convince them, because it’s sure to come up.
Sometimes I also tell them why their way is not going to work, and then step aside as they do it their way anyway. When it fails, I say, “Let’s try this now.” They tend to be more open when I predict something will fail correctly.
I think that’s a great point about consulting. I didn’t really think of consulting that way, but it makes sense. The way I thought of it was making more money than I cost. So I’ve been working on taking projects where I can tie my performance directly to the bottom line. But I see that people may hire a consultant for many reasons – I just don’t want to get caught up in too much of the daily grind work, I just want to be more involved in the strategy.
Thanks! I’m glad you like it. I have a client who loves mass email. It’s hilarious because they coach high schoolers on how to write personalized emails to adults, and when I pointed out to the CEO that he’s breaking all his own rules by sending mass emails he was amazed. They are starting to tone it down now, so that makes me happy that maybe I can make a difference in the way they do business.
Monica O'Brien is the Director of Digital at Fizz and author of the book Social Pollination, which helps businesses leverage social media for crazy growth!
"There's no sugar coating in Monica's advice. She understands and outlines what works and doesn't, while she also leaves room to discuss the transient nature of social media."
Grace Boyle, Publisher Services Manager at Lijit
Monica O'Brien is the Director of Digital at Fizz and author of the book Social Pollination, which helps businesses leverage social media for crazy growth!
{ 11 comments… read them below or add one }
Monica - The trick is to create urgency without it devolving into impatience. If you act urgently, you accomplish important things with minimal wasted effort. If you act impatiently, you get the low-hanging fruit out of the way in order to accomplish something. Urgency produces action; impatience produces activity.
If you don’t have urgency, others beat you to market, or you die from analysis paralysis or the perils of perfectionism. If you are impatient, you dither away your potential and your first mover or fast follower advantage.”…they need to get things right” – depends on what “right” means, doesn’t it? The Pareto Principle applies – spend the 20% effort to get an 80% solution, but you can probably wait until V2 for that last 20%.
Every first-time young entrepreneur believes that the first company he or she builds will be the next Google or Facebook. I know, because I thought the same exact way. The entrepreneur becomes impatient when momentum slows down, cash flow starts running out, and the company doesn’t have that same fun and vigor like when you were first starting out. The entrepreneur starts to get impatient with the marketing, finance, and IT departments because he doesn’t know where else to take out his frustration. I think that patience is a quality that all great entrepreneurs have. Patient entrepreneurs understand that a new social media marketing campaign will not produce exponential growth immediately. As a follow up, I believe the best consultants are able to fill their clients with confidence and tranquility. The consultant’s job is not only to generate money, but it’s also to make the life of the CEO much happier by taking care of his business.
Monica, this is a great post. And I think you’ll be happy to know that two people sent me the link and told me to read it
The point you make about how sending a mass email is easier than making a meaningful connection with a few people – that’s so true. It’s about asking ourselves really, what is productivity and what is BS?
Penelope
The quality of the info is what keeps me on this site, thanks!
I have read a few of your posts and they are all interesting and informative…keep up the good work.
I would have to agree. Understand that not everyone is going to jump on board. Continue to push towards those that have the influence to speak louder than you do. Those are the ones that are going to challenge the market. Your there to simply introduce the market to them.
Eric,
I completely agree with you. I never meant to imply that start-ups should get all the data or wait until something is 100% ready before they put it out there.
There was a study done on the microcomputer industry in the 1980′s that found that companies who made fast decisions did well, and companies who made slow decisions did poorly. The fast decision makers were obsessive about the feedback they received from the market, which is ultimately how they made their decisions faster.
At the same time, there is something to be said about the study – namely that the results may be a case of survivor-select. In other words, the companies that made fast decisions and weren’t successful simply drove themselves into the ground faster and weren’t around by the time the study was conducted.
My professor ended his point with, “Stupid and fast is a bad combination. If you are a stupid company, you’re better off making slow decisions.” The quote cracked me up
So there is a definite balance. Thanks for the comment!
Antjuan,
This is the strategy I’ve taken so far. Actually, my strategy may be more like “muddle with a purpose.” In other words, further your cause when you can, let them do things their way when you can’t convince them, and wait for your next chance to convince them, because it’s sure to come up.
Sometimes I also tell them why their way is not going to work, and then step aside as they do it their way anyway. When it fails, I say, “Let’s try this now.” They tend to be more open when I predict something will fail correctly.
Jun,
I think that’s a great point about consulting. I didn’t really think of consulting that way, but it makes sense. The way I thought of it was making more money than I cost. So I’ve been working on taking projects where I can tie my performance directly to the bottom line. But I see that people may hire a consultant for many reasons – I just don’t want to get caught up in too much of the daily grind work, I just want to be more involved in the strategy.
Penelope,
Thanks! I’m glad you like it. I have a client who loves mass email. It’s hilarious because they coach high schoolers on how to write personalized emails to adults, and when I pointed out to the CEO that he’s breaking all his own rules by sending mass emails he was amazed. They are starting to tone it down now, so that makes me happy that maybe I can make a difference in the way they do business.
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