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Be ready to pounce when openings arise

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in Leaders & Managers,Office Management

Golden opportunities are rare in business. They’re also hard to predict because they arise from random, unconnected events.

That’s why practicing active waiting makes sense. Here’s what we mean:
  • Keep your priorities clear but your vision “fuzzy”: Don’t fixate on internal goals and operations so strongly that you miss external opportunities when they come along.

  • Study the future. That often means testing new ideas in small ways so you can pick up on trends before they emerge.

  • Amass cash and other resources so you can quickly deploy them when opportunity strikes.

  • Build internal efficiencies, cut costs and improve products. It sounds like ho-hum advice, but this emphasis provides a solid foundation for quick action when you need it.
— Adapted from “Strategy as Active Waiting,” Donald N. Sull, Harvard Business Review.

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