Countless entrepreneurs live by the mantra “go big or go home.” They are determined to be multi-million dollar companies that dominate their industry. While this is a worthy goal, many business owners extrapolate that philosophy to their business strategy, which can often lead to problems. Successful entrepreneurs find ways to make their systems as easy to implement as possible.
Benefits of Simplicity
Entrepreneur and venture capitalist Mark Suster shared his perspective on this in Inc. Suster says that the Golden Rule of business is trying to do more with less. Companies that try to limit moving parts tend to be much more successful than those that create very sophisticated approaches. These companies will ultimately grow to be market leaders for the following reasons:
- The minimalist approach is usually much more cost-efficient.
- It is much less complex, which reduces the likelihood that anyone will misunderstand directions.
- The less sophisticated approach is easier to streamline.
- You and your employees will have an easier time following a consistent vision if the system is easy to follow.
- Investors and customers will be more confident in your company if they can easily follow what you are doing.
Mozart once said that “true genius lies in simplicity.” This quote is every bit as applicable to running a business as it is in producing music. The success of your business depends on your ability to operate efficiently and consistently. Creating a simplistic vision can be more difficult upfront, but that effort will definitely be worthwhile down the road.