Diligence is not mere enthusiasm or misdirected effort. It takes much more than that. You need to research your market, your competition, the financial feasibility of your concept, and more. As you fight through the battles of making business vision come true, you need to be able to go back to read and re-read your business plan. The most successful entrepreneurs learn, study, and reach out to mentors to improve their leadership skills.
Diligence is a paramount attribute in all of lives affairs. Diligence is a consecrated, energetic, efficient and consistent effort to achieve the goal at hand, by maintaining focus and self discipline, removing distractions and prioritizing efficiently.
“The Concept of Diligence is engraved in certain basic principles. Diligence invests time, thought, and energy into a task with the hope that it will produce a healthy return. By investing a lot, diligent individuals expect to gain a lot. They realize that what they get out of something depends upon what they are willing to put into it. Diligence does not allow a task once undertaken to remain incomplete; it rather aims at finishing the task fully. It counts the cost and sees things through to the bitter end. In fact, for the diligent persons, the satisfaction of finishing a task is often as meaningful as any praise or recognition they receive from others. Diligence also applies to both small and large tasks, significant or menial, easy or difficult. It applies the same efforts to whatever task is at hand, realizing that anything worth doing is worth doing right.”~ Dr. Rejai Karim
Diligence demands three basic attributes- Patience, Flexibility and gentleness. Task often involves delay beyond ones control. A diligent person face challenges and delays without getting frustrated.
Below are 10 areas where diligence is needed;
1. Financial matters (e.g. Indebtedness)
2. Legal Matters
3. Employees Matters
5. Business Contracts
6. Environmental Matters
7. Regulatory Matters
8. Asset Management
10. Research and development
The 10 reasons are hinged on the fact that without Diligence, these 10 key Business areas where diligence is needful would be grossly affected.
One important aspect of diligence is realizing when to give up and should not be taken for granted. This does not mean attempt should not be made, but realizing when to let a goal go and start something new can be empowering when a goal is no longer attainable. Think for a moment whether the drive to reach a goal is negatively affecting important business relationship.
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