Delayed Gratification (Business Concept 13)

We've all heard it.

We even think we're practicing it

Has it ever dawned on you you always seem to be in the 'delayed' phase and never reach the 'gratification'?

Perhaps the most important characteristic of success for a young entrepreneur is the ability to wait for gratification — to save money and plan ahead in order to control future time.

Aside from goal setting, this can be taught best by a standard wholesale-to-retail lesson.

Before you go to the wholesaler, draw a chart and think about how this event will take place.

Much of success in life is thinking about what to do now to make your goals come true in the future.

Your goals should be long term, medium term, short time with clearly defined results...and rewards.

Entrepreneurship, and all of business, is about investing ideas, money, and time in the present to get benefits in the future.

I would argue that working on lengthening time preference is one of the most important skills you could develop.

As hard as this might sound to a struggling entrepreneur, it is the sure recipe for lasting success in business

Key Takeaway

Time is an important ingredient in any real success story

What matters is what happens between where you are now, and the gratification 'point'.

What you do 'now' determines what happens 'then'.

Set Goals

Clarify your thoughts

Partake only in activities that bring in high returns

Create your support network

Build up your life in preparation for the return of all your hard work

Time is an important ingredient in any real success story

Use a tool if you need to.

Your Financial Fitness Journal is there to help you plan your journey from here to 'there'.

Use it.

A new concept comes in the next post.

Till then.

'Mobolanle


“Delaying gratification is a process of scheduling the pain and pleasure of life in such a way as to enhance the pleasure of life in such a way as to enhance the pleasure by meeting and experiencing the pain first and getting it over with. It is the only decent way to live.”

 M. Scott Peck

Author: The Road Less Travelled

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By | 2018-06-12T14:32:52+01:00 June 1st, 2018|Blog, Business tips, Start your business|Comments Off on Delayed Gratification (Business Concept 13)