WHEN NITTY-GRITTY DETAIL IS CRITICAL TO BUSINESS SUCCESS By Noel Peebles
Many entrepreneurs fail to succeed because they won’t, or cannot, sweat details. Although it’s important to see big picture, it is equally important to get details right. Trouble is; many entrepreneurs view detail work as boring, time-consuming and petty. After all, they could be pulling off some exciting deals, instead of wasting time on “nitty-gritty” details.
However, by not dotting i’s and crossing t’s, those very same entrepreneurs could be running a serious risk of having their wonderful deals come unstuck. The fact of matter is; even smallest business mistakes can be costly in terms of both time and money. These could be small (but critical) mistakes like:
- Adding up money incorrectly.
- Getting customer names, phone numbers and address details wrong.
- Not getting a web site address correct in an advertisement or sales letter.
- Not checking local bylaws, regulations etc.
- Not understanding employment, health or safety regulations.
- Not checking fine print on contracts, lease agreements etc.
Yes, simple mistakes like these can be very costly. And, it’s not easy, when small business entrepreneurs are expected to know everything and be experts at everything. It’s a tough ask!
Fortunately most entrepreneurs have a positive outlook on life and seem to bounce back after making mistakes. Although their mistakes may have been painful at time, most would put them down to experience and move on to next exciting task at hand.
I guess we are all same. We like to focus on things we enjoy doing and things we are good at. It’s only natural when detail work is viewed as a chore and a bore.
As an example, I hate accountancy work, but I know it must be done. Important details like: if I don’t file a tax return on time I will get hit with penalty interest charges. Ouch! That’s why my accountant handles much of “boring” detail for me. I know my strengths and I know what I enjoy doing – accountancy is not one of them. Despite that, I do understand importance of getting essential details right and that’s precisely point I’m making.