Better Young Entrepreneur

Ever see a pendulum?

It swings from side to side with decreasing momentum until it finds it balance and rests in the center. In its process of balance, the pendulum passes its point of center many, many times, until it finally rests there.

Similarly, you’ll find that in many life situations, it is necessary to taste both sides of a particular situation until you find the proper balance.

This applies very clearly to business of a young entrepreneur as well.

For example, a photography company starts by printing their photos on a low quality photo paper that isn’t satisfactory to their customers.

They get a huge amount of complaints and in an attempt to keep their customers, they start to use one of the highest quality photo papers that they can find.

The result, they keep their customers, but their profit margins go down the toilet.

So, the young, intelligent CEO decides to sacrifice a small amount of quality and save a significant amount of money by switching to a medium tier photo paper that is satisfactory to their customers and don’t kill the companies profits at the same time.

A crude example to illustrate my point.

Unfortunately, there tends to be this concept of being near perfect immediately, without any need for adjustment or adaptation.

In my opinion, this concept is completely artificial, and there has not been a single successful business built in this way.

Hugely successful companies like Google, Apple, and Amazon.com are continuously adapting their businesses to the changing needs and desires of their market, with adjustments of already existing products or services AND with innovation.

Let’s learn from the leaders.

With those changes, there comes a need for adjustment.

Is the iPhone 3GS the same as the original iPhone? No, there have been significant adjustments to the product to make it the best selling Smartphone in the world.

And, of course, it’s still changing.

So, what’s your point?

My point is this: don’t be attached to perfection.

Instead, be attached to progress. The idea of perfection implies no further need to do anything.

But progress is a continuous process that is dependent on connection with your market and an understanding of what they want. Plus, it’s a much more exciting place to be.

Talk soon,

Abhay Khurana

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