Posted by : Amitha Amarasinghe Thursday, November 26, 2009
There's a close similarity between running a business and driving a car. You should strike a balance between the time you spend on keeping your eyes on the dashboard, and the time you spend on looking through the windscreen. If you spend too much time looking at the dashboard (internally focused) you will lose focus on what is happeing on the road ahead of you. If you spend too much of time looking through the windscreen (externally focused), you will never know when you run out of fuel (cashflow crisis) because you are too busy chasing a car (competitor) moving ahead of you on the road or too busy eying on the beautiful girls (customers) walking along the streets.
Make sure you are upto date on what's happening outside the window, in the macro environment. At the same time, never lose focus on the KPI's on the dashboard to measure your success and spot failures.
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