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Procrastination Pays for Entrepreneurs

procrastinateNo less an authority than Thomas Jefferson taught us to “never put off until tomorrow what you can do today.”

Well, Thomas Jefferson was wrong! Here are four times when it may pay to procrastinate if you’re an entrepreneur:

1. It may pay to push back your launch.
“Wait” is a viable option in many cases. While you wait, take a class. Get some experience in the industry. And check out The Entrepreneur Equation.

2. It may pay to delay your exit.
We’ll preface this by recognizing that many entrepreneurs wait too long to get out. They end up with a business that really doesn’t have any growth potential left.

But for the best businesses, why be in a hurry to sell? We have a friend who owns a business. He determined he would make as much in 2 years as he thought he could get for the business if he sold it. He’s getting his money now and later by delaying his exit!

3. Sometimes it pays to defer conversations.
It may be an employee or a customer. It could be your kid or your spouse. The point is somebody said or did something to upset you.

You want to fire back. You want to speak your mind. But it probably won’t be productive. You’ll probably say the wrong thing or at least say it the wrong way.

Get away. Take a break. Calm down. Get your head back so you can have a conversation, not a confrontation.

4. It may pay to postpone a major decision.
We can take a note from franchise law here. The law says a franchisor can’t accept your money for three days after you receive the Uniform Franchise Offering Circular.

You should be emotional about your business. But you shouldn’t base business decisions on emotions. Take a little time. Do some more analysis. Don’t spend the money today. Procrastinate for BIGG success!

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