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Unrealistic Expectations

expectationsThere are numerous studies which state that 8 out 10 entrepreneurs who start a business fail within the first 18 months. Bloomberg for example makes this case – meaning 80% of these businesses are toast within a year and a half.

There are numerous reasons why this happens. When asked, many of these entrepreneurs will say they ran out of money. Although in fact this may be true, my thought is there were a few things which happened earlier which might have changed the outcome.

A question one of my coaching clients might be asked at some point by me: “What amount of money would you like to set this year or next year as your target?” More often than not an answer might be something along the lines of: “One million dollars!” My response is: “Okay, great, by the way how much is the most you have ever made in any one year in your entire lifetime?” The silence is deafening! Allow me to re-phrase the question: “Have you ever earned over six figures in your own business of any type ever before?” For many there is still silence. A few might say once or twice they have achieved it.

My next question is: “Would you consider a more realistic or achievable target of possibly 50% more than your best one year total ever working in your own business instead?” The point of this conversation is to not allow the thought of a near term unachievable goal become the driving force behind the operation.  It is not my intent to become a dream killer. It is to allow the dream to become a reality.

If the “One Million Dollar” mark has to be there then let’s move the target date to achieve that type of number out a few years so it becomes a more realistic and achievable goal. A sure way to doom the enthusiasm of an entrepreneur and their team is to set the bar so high they will have absolutely no chance of hitting it.

In a world where everything is able to be measured and reported rapidly and easily, it would become quite obvious to everyone, unless the business was a miracle business opportunity, that the far reaching unrealistic expectation would never be achieved. It is far wiser to select a stretch goal with a bit of wonder and fear attached to it which would still be attainable than to set an unreachable goal.  The entrepreneur and their team would be able to see the results moving toward the goal and potentially shift one or two things along the way to improve results in order to achieve the goal. This is how momentum and a driving spirit are created and maintained. This is one item to consider early on in setting up your business and revisit at least once each year.

Mitch Tublin is a business consultant, advanced certified personal and executive coach and a professional speaker based in Stamford, CT.

Are you ready to Chart Your Course™ for your life or for your business? Mitch is ready to work with you either for a Full Chart Your Course Day or over a period of time. It is your choice. >> CONTACT MITCH HERE <<

A Story About Churchill, The Play

winston-churchillThe other night Dr. Patty Ann joined me in attending a behind the scenes talk about Churchill, The Play. Ronald Keaton the performer who becomes Churchill and who wrote the play discussed his fascination with Winston Churchill, how this all came about and his personal story. Woven in between the talk, Ronald Keaton performed a few tantalizing tidbits for our small group in order to entice us to run and purchase tickets to see his show.

Churchill, The Play is currently playing at New World Stages, 340 W. 50th St. NY, NY 10019.

We enjoy going into New York City to see shows on Broadway. In recent years a few shows we have seen are Jersey Boys, Book of Mormon and Beautiful. Each show was a unique experience and full of entertainment. The concept of almost two hours of one person performing as Winston Churchill was not something typically high on my list. After witnessing Ronald Keaton go into the role and share a few brief segments my interest level was raised.

The amount of research which Keaton conducted was amazing. He described the volumes of books and records he read through and various clips and recordings he was able to review. He was without a doubt deep into his mission of learning about Winston Churchill. One story he shared with our group was when he performed the show one evening. In the audience was a Granddaughter of Winston Churchill. A half hour prior to the start a staff member told him she would be in the audience. From the stage he knew immediately who she was as she sat right in the center fairly close up to the stage and had fire truck red hair on her head. After the show she went up to greet Keaton and exchange a few words. For his role Keaton wears a Blue Pinstripe Suit and a Blue Tie.

She said right to Keaton: “You know one thing about Grandpa, that suit you wear, he would not have liked that suit too much. Grandpa hated the color blue – hated the color blue. In fact he did not own one stitch of blue clothing.”

For our group this began a discussion thread about the type of points people bring up to him after each performance. From my perspective what struck me was how is it possible with all of the years of reading and research, speaking with people, viewing film and more, that not once was Keaton able to discern that Winston Churchill despised the color blue?

Which brings me to a few points – when you ask an easy question should you ask the other question? What is your favorite color? A common question young children ask each other. We may see this on a survey. What color do you not like at all? Do you ever hear this question? Wonder why not? If my business was built around selling clothing this would be good information. How about putting together a website or marketing materials?

The other point, is do we sometimes get so caught up in the agenda we find ourselves deep into what we are doing that we miss the most basic pieces of information which are right in front of us?

Mitch Tublin is a business consultant, advanced certified personal and executive coach who resides in Stamford, CT.

If you find yourself caught up in your agenda, fighting fires every single day and you are concerned you might be missing the exact opportunities you are looking for, contact Mitch for an appointment.

Rolling On A Highway

car-traffic

The majority of us drive on an interstate or some type of highway a few times a week or more. On a three lane highway, ever notice the impact of someone who is driving a car in the center lane, yet, at a reduced speed of ten to fifteen MPH less than the speed limit which […]

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Mothers Lead The Way Every Single Day

There is no discussion, no question and hopefully no issue that each of us has a Mother. If she has passed on it is my sincere hope you have fond and loving memories of her. If your Mother is alive today my wish for you is that you are able to give her a warm hug and kiss […]

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What Can We Learn From The Kentucky Derby?

The Kentucky Derby is called the Greatest Two Minutes in Sports. It is steeped in history and traditions. Since 1875 the event has been held on the first Saturday in May. Female spectators wear unique and colorful hats. Men may enjoy their Bourbon and fire up a fine cigar or two. The Mint Julep is […]

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U DRIVE U TEXT U PAY – Are U DISTRACTED at Work?

distracted-at-work

U DRIVE   U TEXT   U PAY This is the latest slogan in use to get the attention of the numerous already very distracted drivers of vehicles. The point is – it is a warning that you will be getting a fairly expensive moving violation ticket if you are caught texting while driving. The amount of […]

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