Persistance in Business

The business world is not just a place where people dressed on some fancy suits gather, talk about money and sing kumbaya if it were that easy everyone would be entrepreneurs raking billions year in year out. Successful business owners have one thing in common and that is missionary zeal and persistence.

What is persistence?
Merriam Webster dictionary defines persistence as the action or fact of persisting, the quality or state of being persistent. The same dictionary defines persistent as existing for a long or longer than usual time or continuously. Maybe what best defines persistency is not in the dictionary, may I suggest we seek a practical definition from Thomas Edison. Persistency is Thomas Edison not giving up on inventing the light bulb after having tried for about 1000 times. He became successful at the 1001st time. When a reporter asked, “How did it feel to fail 1000 times? He replied I didn’t fail 1,000 times. The light bulb was an invention with 1,000 steps”.

The place of persistence in getting new business deals.
Striking a new business deal is not a walk in the park. Chances are high that the deal you are about introducing will not escape through. You as a business owner trying to strike a deal should bear one thing in mind and that thing is what I call the “what is in for me principle”. Let us be realistic here humans are selfish by nature, the reason most people do whatever they do is that of what they stand to benefit, this is not to say that people don’t do things for others but the truth remains that most people do things because of what they stand to gain. When you set out to strike a new business deal, ask yourself this important question: what does this company or person have to gain by striking this deal with me? I bet if you can convince the business owners or leaders of the benefits accruable to them they tend to give the new deal a shot.

The place of persistence in maintaining old clients.

The major reason clients stick with your business is that they are constantly getting quality products or services from you. You need to continue “wowing your clients” by innovating new ways to serve them better. How best do you reward client loyalty if not by consistently giving them top-notch services or products at great prices? No matter how good an idea is if your clients or customers are not buying it, you might well want to reconsider the idea to at least avoid another Nokia story. Nokia lost a large share of its market to other competitors in the mobile phone market after it failed to take its customers to taste into consideration by not embracing the Android Operating System which was made free to use by Google but instead forcing its own Symbian Operating System on its customers. The effect is the bankruptcy of a company that holds the record of the most sold mobile phone model. A similar fate befell Kodak and other similar companies some of which never recovered till today.

The link between persistence and success is a very strong one, they are like Siamese twins that even a thousand Ben Carson cannot separate. Persistency in this sense does not mean you as a business owner should be static and not embrace change. True persistence lies in making sure your business goals are the same but changing strategies if need be.

Have a project in mind?

Don't hesitate to reach out and let's get started!
Get in Touch