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Two companies competed with each other in toothpaste and toothbrushes. There was a requirement in the market for toothbrushes for kids. Both companies were aware that one who comes out with the product earlier could dominate the market. The first company, instead of doing any field research, took the logical approach. Since adults have bigger hands they need long and thick toothbrushes. Whereas kids have smaller hands, so they would need small and thin toothbrushes. In the haste to gain market share, they produced the kid’s toothbrush and launched it. Meanwhile, the second company did extensive field research. They went to hundreds of kids and observed how they held the toothbrush and brushed their teeth. They also took feedback on what kids wanted. They concluded that they need a toothbrush similar to adults in size with some grooves. Thus they launched a bigger toothbrush for kids with colours and cartoon characters to make it more attractive. They sold a record number of toothbrushes and dominated the market.

 To achieve one’s wealth creation goals, one should plan well, acquire requisite knowledge of products and market factors and most importantly have patience to wait for the results. It is a very iterative and boring process which takes a long time to materialise. The more time, you spend on the initial stages, more the confidence you will get in the longer run. Never go for shortcuts, it may give you instant returns, but to make consistent returns you need patience to hold your portfolio over longer periods. Thus, the dividing line between success and failure could be summarised in just these 5 words, “I DID NOT GIVE TIME.”