Lower Expectations Can Help You Get Ahead
Nothing lasts forever.
Did reading that make you feel miserable? Or did it give you a sense of relief?
The answer tells you a lot about the way you view the world.
One of the reasons I love spending time with entrepreneurs is their optimism. Entrepreneurs are always looking for the next opportunity. They find ways to spin straw into gold. They see possibilities that nobody else can.
They also, unfortunately, tend to have unrealistic expectations.
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Right now we’re in an economy that, while not technically in recession, is certainly less favorable for growth than previous years.
Did you anticipate it?
I’m not asking whether you correctly predicted when the Fed would raise interest rates or how much the market would contract. (although if you did, it would certainly be useful)
The question I’m asking is much simpler. Did you foresee that at some point, the economy would experience a downturn?
I already know that there’s a good chance you didn’t.
Sure, you might have acknowledged it intellectually. Markets are cyclical. You’re up, and then you’re down.
But did you believe it could happen to you?
Or did you make the mistake that most of us do - believing you’d be the exception to the rule?
Here’s a good way to tell: do your financial projections ever consider a scenario where you start losing business? Where instead of growing, your annual revenue stays flat?
If you’ve never had a conversation like that with your leadership team, then you’ve been living under unrealistic expectations.
Hope for the best, sure. But also, plan for the worst. Productive paranoia can be useful.
Nobody likes to be in a situation where they feel like they’re going backwards. It’s difficult to acknowledge. It’s scary.
But ultimately, you’re far better off preparing for it than being blindsided.
When you anticipate a difficult period, you can make thoughtful decisions. When it’s suddenly upon you, you panic.
No business was ever served by panicking.
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Nothing lasts forever.
On the one hand, your growth trajectory won’t always be up, up, up at the exact same rate. Learn to accept it.
On the other hand, the challenges won’t stay the same, either. Whatever trials you’re facing right now, they’re sure to change as well. Take comfort in it.
And if you need support getting through the current moment, we’re always here to help.
