The Law of Timing
The Law of Timing is one of the 21 Irrefutable Laws of Leadership, and it states that successful leaders know when to take action and make important decisions. Timing is crucial in business, and being able to make the right decision at the right time can often mean the difference between success and failure. In this blog, we will examine The Law of Timing and how it applies to a business venture that happened in Miami.
In Miami, there was a business venture that exemplified The Law of Timing. In 2015, a startup called Boatsetter was founded. Boatsetter is a peer-to-peer boat rental platform that allows boat owners to rent out their boats to people who want to go boating. The company was founded at a time when peer-to-peer rental platforms were becoming increasingly popular, and Boatsetter was able to capitalize on this trend by focusing on a specific niche: boating.
Boatsetter’s timing was impeccable because it was founded just as the sharing economy was taking off, and the company was able to ride this wave of popularity. The company was also able to differentiate itself from other peer-to-peer rental platforms by focusing on a specific niche, which allowed it to attract a loyal customer base.
In addition to its timing, Boatsetter was also able to make strategic decisions at the right time. For example, in 2017, the company acquired a competitor called Boatbound, which helped Boatsetter expand its customer base and increase its market share. The acquisition was a strategic move that helped Boatsetter solidify its position as a leader in the boat rental market.
Boatsetter’s success is a testament to the importance of timing in business. By starting the company at the right time and making strategic decisions at the right time, Boatsetter was able to succeed in a highly competitive market. The company’s success also shows that successful leaders are able to recognize when the time is right to take action and make important decisions.
In conclusion, The Law of Timing is an essential component of successful leadership. Being able to make the right decision at the right time can often mean the difference between success and failure in business. The example of Boatsetter in Miami shows how important timing is in business and how being able to recognize the right time to make strategic decisions can help a company succeed. As a leader, it is essential to develop the ability to recognize when the time is right to take action and make important decisions.
