Press Release

Instant success is every entrepreneur’s dream, but the reality is that business success requires time and patience. As the saying goes, “good things come to those who wait.” This perfectly encapsulates the journey that an entrepreneur embarking on a new venture must undergo to transform their visions into a successful reality. Business owners must practice patience to avoid impulsive decision-making, foster innovation within the organization, and last but not least navigate the uncertainties of the entrepreneurial world.

Avoid Impulsive Decision-Making

As an entrepreneur starting out a new venture, you will without a doubt experience doors closing on your face. It’s important to avoid impulsive decision-making during these hard times. Many entrepreneurs will make the hasty decision to wind down their company after facing several rejections. The key is to stay relentless in your pursuit. Patience, resilience, and persistence are paramount as success often requires navigating through a series of setbacks.

Speaking from personal experience of setting up my immigration firm in Dubai, it took an entire year for people to recognize my determination and the value of the services I was trying to provide. Lacking funds for a lavish office, I would often drive around to hotel lobbies and to people’s offices for my pitch. Many times, I would make a one and half hour drive just to be rejected after a 20-minute meeting. While quite challenging, these experiences only made me work harder on breaking through. Persisting through these challenges has proven to be worthwhile, as it has allowed me to witness the fruits of my perseverance and enjoy the success of my firm, The American Legal Center, in Dubai.

Foster Innovation

By practicing patience, entrepreneurs will foster and encourage innovation in their organization. The process of innovation is typically gradual, involving experimentation, learning from setbacks, and ongoing refinement. Business owners with little patience may be inclined to abandon projects prematurely if they don’t see immediate results. Conversely, entrepreneurs who exhibit patience recognize that significant breakthroughs take time and are willing to invest in the innovation process. This mindset not only nurtures a culture of creativity within the organization but also positions the business for continuous growth in a swiftly changing market.

My patience has frequently sparked innovation among my associates in the firm. This is due to the fact that they feel empowered to pitch their ideas, confident that I will lend a listening ear and invest time in evaluating their proposals. For instance, my marketing executive feels empowered to regularly pitch new marketing ideas. While it’s true that not all marketing strategies that we pursued yielded the desired result, our patience in testing those approaches was instrumental in finding the marketing strategies that are truly effective.

Navigate Uncertainties

Your projected plans may often go astray due to external factors that are out of your control. Uncertainty is a factor that we’re all too familiar with in this post-Covid world. Patience is vital for business owners, especially in navigating unpredictable markets affected by economic downturns, technological shifts, and global events. Patient entrepreneurs grasp the cyclical nature of markets, avoid hasty decisions in response to short-term fluctuations, and, by staying composed during turbulent times, position themselves for long-term success.

In 2019, my patience as a business owner was tested when the program that my firm is laser-focused on — the EB-5 Immigrant Investor Program — underwent an overhaul, including a drastic increase in the capital investment requirement from $500,000 to $900,000. The EB-5 program allows foreign investors to obtain Green Cards for themselves and their qualifying family members, including a spouse and children under the age of 21, through an investment in a government pre-approved real estate project in the United States. The 2019 EB-5 rules reshaped my target client base from upper-middle-class families to the highest echelon of earners. This combined with the economic effects of the Covid-19 pandemic, resulted in an 80% decrease in client sign-ups from November 2019 to June 2022. Foreseeing a potential reversal of the EB-5 rules, I strategically built a pipeline of potential clients, even though the services I was providing at the time were without immediate compensation. When a U.S. federal court invalidated the 2019 rules and brought back the investment amount to $500,000 in late June 2021, we submitted the highest number of applications from the Middle East in about eight days, highlighting the effectiveness of patience and strategic planning.

Patience Is A Virtue

In the dynamic realm of entrepreneurship, patience is an indispensable virtue that distinguishes the triumphant from the transient. Enduring success demands time, resilience, and a strategic mindset. As we traverse the facets of entrepreneurship, from weathering setbacks and building lasting relationships to fostering innovation and navigating uncertainties, the significance of patience becomes increasingly apparent. Just as Rome wasn’t built in a day, sustainable success in the business world requires steadfast commitment, strategic planning, and, above all, unwavering patience.