I have no clue who Katerina is but several of her quotes have made me think … about me and business in general. In fact I have used both her quotes I will use today in a past post:
I am an impatient guy.
I am a patient guy.
I am an impatient patient guy.
Which led me to the fact impatience can certainly kill quickly … but patience can also kill … slowly.
Therefore … me … certainly not looking to kill myself <or anything good in business> seeks to find the balance.
And it often wanders the fine line balance beam of mortality & immortality.
<hmmmmmmmmmmmmmmmm ……. anyone ever noticed if you eliminate one letter those words quickly become morality and immorality? … ok … different post for a different day>
This mortality and immortality thing.
Impatience can certainly kill quickly … as well as kill slowly <it starts you down the slippery slope to death> … as well as it can quicken Life <that quick dash of adrenaline> … as well as it can even slowly build prosperity.
Impatience can lead to mortality or immortality. And it seems silly to me to pigeonhole impatience int the ‘bad’ category.
Impatience in and within itself isn’t bad … nor good.
It just … well … is.
I like impatience in business.
But I don’t like hasty decisions.
I imagine it is simply “doing the best you can in, and within, the time” decision making.
Too quickly and … well … suffice it to say that a decision can be killed in so many ways your head can spin.
Too slowly <too patient> … well … at least by delaying you can watch everything unfold as you watch the decision’s life slowly unravel in the form of lost opportunities or lost <or reduced> benefit from a quicker decision.
Making decisions is difficult … okay … making good decisions is difficult <because anyone can make a decision>.
And it does take some experience to become more adept at making decisions.
The experience is important, and necessary in my view, because patient impatience is all about sifting through all the choices available.
Too fast and you die.
Too slow and you die.
Here is the good news.
The medical profession <even scientists> is getting involved to better understand how choice, and the choice process, is affecting us <because the perception is that we are getting worse at it>.
And it almost always revolves around my favorite topic - the key driver is hope.
“There is nothing that fear and hope does not permit men to do.”- Marquis De Vauvenargues
I chuckled when I thought about using this quote in this post <and frame of reference>. Impatience is weighted down with hope and fear. But here is the good news.
Research has shown that if you assess all your choices together rather than in a linear <one-at-a-time> not only will you be more successful but also more happy with your decision.
The research shows the detrimental effect of whether choosing a piece of gourmet chocolate, a nail polish color or a bottle of Italian red wine, individuals presented with their options one at a time end up less satisfied with, and ultimately less committed to, their chosen option than individuals presented with their options all at once. – Wharton School of Business < Cassie Mogilner and Baba Shiv>
<everyone should note this research … particularly those of you who gain new business in a competitive shoot out fashion. This research suggests that decision makers will not only suck at making the best decision if they see presentations one at a time … they will also most likely go through some regret and feelings of lack of commitment with the decision they made … yikes>
Managing decisions is all about a thorough understanding of the decision’s hierarchy of needs understanding the attributes in a span of time that generates the most rewarding outcome.
Rewarding is multiple in dimension … but I will keep it simple … a rational reward and an emotional reward.
Rewards that create emotional value are more effective over the long term and have a greater likelihood of encouraging others to do the same.
Being impatient doesn’t mean you ignore this thinking but rather you incorporate it into your impatience <and it can dictate how patient you are in your impatience>.
About that silly thing called hope.
In this case it is actually about the negative implications of hoping too much.
Part of impatience and patience is actually managing regret <a different side of the hope coin>.
In other words … not regretting not choosing one thing before you even choose another.
It’s impatiently <with patience> managing the internalization of opportunity cost and not dwelling on the benefits of the next best options that are passed over when a choice is made.
In other words … continuing to wonder what else is out there undermines satisfactions with the choices you make. In most cases it is because you invest too much energy comparing your chosen option with an imagined perfect option instead of with the other options you had available.
Which leads me to my big close and another quote from Katerina:
“Mental clarity ain’t for the faint of heart.”- Katerina Stoykova Klemer
Successful impatient decision making is about having … well … a rigid policy of flexibility.
Being a good impatient decision maker ain’t for the faint of heart … because I agree with Katerina … mental clarity ain’t for the faint of heart.
Effective impatient patience is all about mental clarity.
When you are facing a choice … making that decision <yes or no, do it or don’t do it> you go through a cost-benefit check that may last anywhere from a split second to days, weeks, or even months <and yes … even months can be an impatient patient choice>. And, yes, I would remind everyone here that even “37 seconds is a life time when used wisely.”
Choices come up many times a day and time is a factor in virtually all of them.
It is a constant river of choices.
It is easy to see how impatience can be abused if we regard life in today’s world as an almost unbroken fast moving river of choices/decisions.
Good impatience ain’t for the faint of heart.