There is a time for everything and everything has its time. This rule has to be understood by all those having a business. Many businesses are seasonal and are, hence, dependent on various factors, e.g. tourism peaks in vacations and insurance and tax consultancy have more business during the months when returns are filed.
This golden, age-old rule using a metaphor is in relevance to the time of catching elephants is in summer. As we gain more experience in our understanding of a business, we get a better view of such cycles. Then the business activity becomes very easy to carry out.
How do we identify â€˜right timingâ€™ in business?
Here are some ideas:
When you do commence a business, it is very hard initially to get a grip of all possible situations. Even if you have to understand the rules of the business fully, please hit the ground running and act diligently and logically. You will mature with every fall and fury and mindset will change. An insight into the way the industry works can be grasped and will eventually end up much better than what it was when started.
Every industry has got businessmen who have played the game more than you have, and who know the cycles much better than you do. Seek shelter with them. Listen to their advices. Try to have a godfather, a mentor or a Guru who will not only guide you but also allow you to make some mistakesâ€”having a Guru means you are virtually safe in your experimenting. He will never allow you to be a failure. Trust him. Your aim should be to become like him. As a senior corporate giant once stated, â€œThe best time of my life is when I sat at the feet of great masters and observed how they ran their businesses.â€?
After the initial learning stages, one should be prepared for the big war. In war and in life, timing is the most critical element. After this, no mistakes are allowed since you are now responsible not only for yourself but also for the whole organization.
Strategize priorities, plan and time every moveâ€”be it for marketing or for launching a new product. As a leader, you have to be involved in the process, planning, executing and monitoring moves at every stage. Business is all about preparing ourselves for the right time and opportunity. But remember, when the right time comes knocking at the door, we should not be sleeping inside.