Principles of Entrepreneurship Maintenance

The Principle of Managing the Ride

Wisdom for Today

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·       Successful entrepreneurs recognize that business is just like life-it runs through cycles. Businesses grow and they shrink. They are profitable one year and lose money the next. Your staff performs in an exemplary fashion on one contract and bombs on the next. How you manage these swings is directly proportionate to the company's long-term success. 

·       Average entrepreneurs adjust their emotions to the swings in the cycle, but successful entrepreneurs calibrate their emotions at midpoint between the highs and the lows. They manage to maintain this equilibrium throughout the entire business journey, despite the changes and vicissitudes of the external environment. 

·       Even though the external environment continues to move through the cycles, successful entrepreneurs maintain a steady and constant reaction to those changing external events. This steadiness minimizes the emotional and psychological effects that changes can cause, and helps entrepreneurs perform consistently and efficiently over the long term. Steady consistency is indeed a great way to manage the ride.