I could understand from the feedback received on the previous newsletter that some of you had difficulty in assimilating the new definition of momentum that I had put forth. So I have decided to revisit the topic and explain a bit further.
In the previous newsletter I’d defined business momentum as the product of skill and speed. Most often we see in business, that leaders tend to increase their speed infinitely so as to compensate for their lack of skill, to keep pace with the market. This phenomenon can be clearly seen in the billion dollar retail industry. Almost all major players focus primarily on improving their customer network prior to improving the quality of products. This is because of the immense latent power in networking.
It would be foolish for a retail distributor to limit his operations to a single centre and concentrate on improving his products rather than on improving the quality of operation. This phenomenon can be seen all around us, but we may not have given it serious thought. Let me explain with an example. We know of many small hotels in our town providing excellent idly’s and dosa’s. Their products may be awesome, but they will never be able to compete with the Saravana Hotels or Nirulas.
Momentum in business is something which helps the businessman to climb from one peak to another. When there is a momentum; simply ride on it. If it’s absent, then create it. Most people think they cannot create momentum because their skill sets are low. But the truth is they are unable to create momentum not because their skill sets are low but because their speed of skill utilization is zero. This is the reason as to why people fail miserably in business. They lose their confidence and self esteem, thinking they lack the ability to make it to the top. Now if you see someone on the street who has gone broke in business; you know why they got there.
The most interesting part of this equation for momentum is that speed is more important than skill. If skill were the most important aspect, then this world would have been ruled by rank holders, Doctorate and Post-doc holders and the like of such people. Instead, the sad part for these people, is that most of the big giants, enterprises and economy building companies are run by college dropouts and C grade students. [Courtesy: Rich Dad Poor Dad – Robert T Kiyosaki].
Everything in nature has a natural course. If you have started on a job, you will continue to do so until and unless acted upon by an external force – very true isn’t it? That is the natural momentum. And guess what, if you follow nature’s course of doing things; you will perform well when times are good and there really won’t be a difference between you and the person who is swimming against the tide. But the difference becomes notable when times are bad; then you’ll be in real trouble.
Wherever you are, whatever you do; develop the habit of increasing your speed of accomplishing. You may not get immediate results, but it will set the wheel rolling. Once that is done, you will be on track to accomplishing all that you’ve noted down in your personal diary as your GOALS!!!
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