Patience- a virtue in business

If you’re in the business of building something worthwhile,

Patience will need to become part of your DNA”.

Patience is virtuous when it empowers you to use good judgement. Patience is a vice when it is used as an excuse or method of procrastination. Patience has a role in every aspect of business. Patience can be a virtue when leaders need time to evaluate and research the benefits of risks associated with critical business decisions. Patience can also be a vice when it hinders progress or is used by leaders to stall or delay difficult decisions. In business, leaders gain respect when patience is used as a sensible guide. It can help define practical goals and set realistic expectations on performance. Patience is valuable in strategic planning, negotiations and critical thinking exercises that have significant impact on the future of a business.

“The first and foremost premise for

success in business is patience”.

Patience also defines a business reality and sets a tone of perseverance. Leaders can immediately lose respect if they show little or no patience. Rushing to judgement can destroy activities or blur facts. Charging forward on key decisions regardless of the cost or potential dangers, can result in missed opportunities and less than desirable outcomes. Leaders that employ too much patience may be deemed as lacking confidence in their own decisions or lacking confidence in others. It can spark insecurities and even instability in the business.

“Patience, persistence and perspiration make 

an unbeatable combination for success”.

Patience as a virtue gives you capacity to endure waiting. Patience as a vice is not setting a deadline, allowing difficult decisions or unexpected outcomes to linger and potentially harm the business. Patience used correctly, is part of your business ethics. It helps in governance. True leaders have the courage to accept associated risk with making a immediate decisions, as well as knowing when it is important to deploy patience at the right time to get the best results.

“Patience: this is the greatest business asset.

wait for the right time to make a move”.

M.Nasreen