Gary Vaynerchcuk is a hugely successful entrepreneur, he took his family business from a corner store to a business with a $60m turnover.
Why is this important?
Gary, to this day, firmly believes that success, be that individual or business is grounded in 'Micro speed' and 'Macro patience'.
What he means is that the combination of being able to react to your customers needs and wants in the short term, along with market conditions and trends, with 'micro speed' whilst balancing the long term needs of the business, 'macro patience' you will win!
This is evident in many successful family firms across the world.
This article highlights this.
The leaders of family-run companies, on the other hand, are focused on where their businesses will be a generation from now. Horst Brandstätter, owner of the German maker of Playmobil figures, ran his company for 54 years. He reportedly once gave a designer 10 years to develop a new product line.