Procrastination is often described as the art of putting off until tomorrow what you should be doing today. It is the habit of waiting until the last minute to get things done. Which in turn results in people trying to justify and save face with an excuse when held accountable for.
Unfortunately, it can be a big obstacle to business success. Why? Here are five (5) main reasons:
Missed Opportunities: Competition is high in business and opportunities sometimes knocks once. Not being able to seize the opportunity on hand may come at a greater expense. Business decisions take time but the business leaders must understand the importance of moving quickly.
Ruins Customer Relationships: Procrastination can ruin the relationships businesses have with their customers. It is a relationship killer that betrays the trust that exists between the business and the customer. Once that happens, the entire image could take a hit.
Damage Reputation: If the business becomes known for procrastination or not delivering, the reputation is bound to take a hit. Reputation management is crucial specially in today’s world where everything can easily find its way to be viral on social networks.
Affects Health: Studies indicate that chronic procrastination may make people more vulnerable to serious health conditions like cardiovascular disease and hypertension. Evidence suggests that putting off important tasks causes stress, and this additional stress contributes to negative psychophysiological impacts on the body which increases vulnerability for illness.
Prevents businesses from achieving goals: Procrastination results in putting visions and goals on hold. The work is put off under the illusion that it will be attended another day. The constant layers of excuses postpone taking action.