Warren Buffet once said that there are two important rules for suceeding in the stock market: 1) never lose money and 2) never forget rule number 1.
What he was implying is that you shouldn’t try to time the market, but that you should use time to your advantage. Wait and don’t make huge mistakes that cause you to lose money.
Similar philosophy is true in business. Time alone won’t grow your busines, that’s true. Agility and massive action are needed. However, it’s true that you have to avoid huge mistakes.
No matter how many hours you work and how dedicated you are, if you make mistakes – you’re going out of business. Especially if you make mistakes that could’ve been easily avoided.