Credit and Finance, Hints and tips
Why urgency could be one of the most important things for your business
Posted on by Rich Wells
Estimated read time: 5 mins
It’s the same every day. Your alarm goes off. You’ve got an hour to prepare your breakfast, eat it, take a shower and brush your teeth, whatever your morning routine consists of.
Unusually, this morning you’ve read an article of extreme interest, have ended up watching a viral video about a particularly grumpy cat and you realise you’ve got sixteen minutes left and still haven’t showered. You’re hit with that sense of urgency.
Against all the odds, you’ve done it. You’re dressed, ready and out the door with a minute to spare. It could be argued that the added pressure helped you to perform.
The fact that you’re able to execute these odds-defying feats can perhaps call something into question. Are you operating with enough urgency?
Urgency is immensely important for businesses worldwide. It’s getting paid on time. It’s doing what you said you’d do, at the moment you said you would. If you’re not urgent, then you’re risking lagging behind, which isn’t typically ideal, should you wish to remain competitive.
According to Siimon Reynolds, a mentor to business leaders worldwide, there are three key areas where businesses can really benefit from an increased sense of urgency:
1) Strategic planning
It’s all about making those big decisions, in order to stay ahead of the game. If you’re taking months and months to make up your mind on relatively simple things, your business could start to fall behind. Of course, rushing into decisions can be equally as damaging as dwindling, so act with conviction, but make any decision an informed one.
Is there a decision-making model that you can adopt to make things a little easier? Have you conducted a full Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis, for example?
It’s often about having the courage, conviction and confidence to make those big decisions as fast as reasonably possible. Being scared is perfectly normal, but it’s important to remember that while mistakes can happen, it’s how you learn from these experiences that really defines you and your business.
2) People management
Do people always take a lifetime to get back to you? Are you always waiting a number of weeks for a report that you perhaps assumed would be simple to complete?
Urgency with people is of vital importance, but it’s also a sensitive topic too. You probably don’t want to come across as pushy, and you don’t want to micromanage, but could you have perhaps politely stressed the importance of the task when asking for it to be completed?
If people detect the urgency in the task, they’ll be sure to have it as a high priority. It’s how you communicate and instil that urgency in your people that can set you apart from your competitors.
3) Your own thinking
You’ve managed to apply urgency to your strategic planning and instil it in your people, but do you, as an individual, think with urgency?
You need to look at yourself through the eyes of urgency, and think of yourself as this efficient being, which recognises the opportunity that even a single minute can present.
You of all people know that if you truly believe in yourself, or believe in a cause, you’re more inclined to go for it, seize the opportunities and succeed. Take the time you decided to start up your business for example. You had an idea, you believed in it, you went for it, turned it into a reality and here we are.
So, if you believe in urgency and start to act urgently, you too can be urgent. Of course, there are a number of tools and services out there that can help you on your journey.
Urgency with your business credit profile
Experian’s My Business Profile offers automatic alerts about significant changes to your credit report – alerting you of every time there’s a major change, enabling you to act quickly to reduce any negative impacts to your score. To find out more, click here.