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Patience is effectiveness

MEDIAL's founder, Mr. Marcel Curodeau, explains the importance of being patient as an entrepreneur to acheived your long term goals.

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  • #finance
Patience is effectiveness

The benefits of patience in entrepreneurship and personal finance

In a world where everything seems to move at the speed of light, people who know how to take their time stand to gain a great deal. Marcel Curodeau, President of MEDIAL OHS-Consulting-Services, explains the role that patience plays in his life as an entrepreneur and how it can be applied to personal finances.

In a deep calm voice, the winner of the 2015 National Bank SME Award in the “SME under $5M” category explains that for him, being patient means striving to find out what he needs to know before taking action.

As an entrepreneur, he carefully scrutinizes the market he’slooking to conquer before going on the attack: “You need to read the market, analyze it, get to know it – not just jump in at the first opportunity!” This attitude can also be applied to personal finances: Savers stand to gain by being informed about financial products, companies and markets in which they intend to invest.

When combined with knowledge, patience helps free people from the hold that their emotions have on them. It leads them to act more rationally, which Mr. Curodeau sees as a winning strategy. This is sound advice for those tempted to give in to fear after the recent declines in stock markets!

Thinking globally

For Mr. Curodeau, exercising patience also means thinking about the long term. “If you’ve been looking at your investments every day for the past few months, it’s enough to give you an ulcer!” he laughs. In his opinion, a better approach is to keep your eyes on the long term: In the long run, stock markets will generate positive returns. “You need to trust the management team,” he adds.Looking farther ahead is also what drives this business leader to develop a global idea of the needs that his company meets. It was with this approach in mind that he developed workplace wellness and training service components to complement the disability management that forms the core of MEDIAL’s expertise.

Good things come…

You also need to be patient to innovate, Mr. Curodeau believes.

For example, he mentions how MEDIAL has had to be patient to implement the “Healthy Enterprise” standard in cooperation with the Bureau de normalisation du Québec. Defining the parameters for this new standard was a long-term process: “When you’re the first, patience is a must!” Applying this standard has been a long-term effort too: It takes two or three years to implement all the aspects in an organization, explains Mr. Curodeau.

All changes meet with resistance, a fact that the founder of MEDIAL believes we need to accept. The important thing is to keep actions consistent until the goal is achieved. He draws a parallel with gardening, a pastime he is fond of: “Flowers grow at their own pace, you can’t force them to grow faster.” What a gardener tries to do is to nurture their growth.

The same applies when looking for new clients. Mr. Curodeau says he has sometimes needed to try and try again: “Two, three, four yearslater, we put forward new offers that are better tailored to the client’s needs each time and that’s how you win them over!” For this National Bank SME Award winner, being patient also means listening to clients, addressing their requests and clarifying the MEDIAL service offering. “I’m not happy with a satisfaction rate below 90%; I aim for higher than that,” he explains.

As such, his drive for excellence combines patience, determination and sensibility.He concludes that patience is the most effective way to act.In his opinion, savers and entrepreneurs would both do well to take to heart the moral of the fable of The Lion and the Mouse, which tells us that “by time and toil, we sever what strength and rage could never.”

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