Leaders: Here’s Why Multi-Tasking is a Bad Idea

The idea of multi-tasking is a widely popular idea. People brag about how much cool stuff they can do all at the same time. The advent of smartphones, tablets, and smart watches make us all feel like multi-tasking Ninjas.

Multi-tasking does not work

The truth is, it is all a smoke screen. Very rarely do any of us truly multitask. You might move from one thing to another at lightning speed, nano-second stuff, but it is never really simultaneous. It just feels that way.

MIT neuroscientist Earl Miller notes that our brains are “not wired to multitask well… when people think they’re multitasking, they’re actually just switching from one task to another very rapidly. And every time they do, there’s a cognitive cost.” This constant task-switching encourages bad brain habits. [Published Jul 15, 2015]

Here’s the Rub

To be able to string a series of activities together to do what we all thought of as multitasking, we load up on menial tasks like opening email or tweets. Then we squeeze some work on the big project in the middle. Or maybe you have a deadline for an important delivery of an assignment, so you try to chip away at that while doing other things.

Either way, none of us are ever really multitasking. The surveys and studies tell us how fooled we were. The human brain only multi-tasks for the key things that help us live (like breathing and keeping our hearts pumping). All the rest is a linear thread of thought and neuron firing inside our heads i.e. you can’t really multitask.

Any effort to try is more about creating performance numbing confusion. Yes, you think you got a bunch of things checked off your to-do list, but in fact, most of what you did had marginal results at best. Example: did you really absorb the message in the email or did you miss a few points causing the sender to have to re-state or clarify your misunderstanding?

I can’t tell you how many times I get feedback from people who clearly never read the original message. Their stated understanding was all wrong. Why? Because they gave the email the brief cursory review, never properly absorbing it before moving on to something else.

Heck, you may be doing that right now with this article. Odds are high that is exactly what you are doing.

Focus

Multi-tasking is the opposite of focus. You cannot be fully engaged on a matter when you are already taking in something about another message or task. It’s impossible to do. Why? Because you have not allowed yourself to focus. Therefore, content and substance whizzes by. If a few keywords get recognized, you subconsciously allow them to trigger a standard response.

The response that becomes your reaction is wrong more often than not. The confusion is avoided with a little more focus.

Don’t Work Below Your Pay Grade

I see far too many owners, executives, and managers taking on tasks that are far below their pay grade. What does that mean? It means doing work that another person should be doing.

Once there was a coaching client who could not delegate very well. Anything they tried giving to a member of the team was taken back and re-worked by the manager before being finalized. If the manager was making $85,000 and the team member was at $40,000, then the manager taking away the task and doing it himself was performing way below his pay grade, by almost half.

This scenario raises two questions.

  1. Is the manager overpaid? If not, they sure acted like it.
  2. Is the worker really not capable of completing the task? If yes, then you need coaching, mentoring, or re-training.

Entrepreneurs frequently try to cut corners by doing things all themselves. Yes, it might save some dollars, but, as Ben Franklin famously quipped “Are you being penny wise and pound foolish?” You might be saving a buck at the expense of having someone else do something, but what opportunity did you miss by not being available at that moment to handle a bigger, more significant matter?

I was guilty of this myself. At one point in my old company, I used to rush to the mail drop each day. The mail carrier came on a regular basis around 1:00. I’d be waiting because the mail meant we were getting checks from our customers. As the founder/owner, I felt the pressure of being sure there was enough cash in the bank every day. Opening the mail made cash happen.

The irony here is that if I let someone else open the mail, I could be originating more business and hence, more checks coming in. My shortsighted view of things though had me anxiously waiting for the mail. Ridiculous for sure! This choice was way below my perceived pay grade.

Outsourcing

A very successful entrepreneur I know has a mantra that has served him well for decades. He learned the value of outsourcing before it was popular. To him, outsourcing is merely allocating paid hours the right way. Again, it’s about the value and proper allocation.

In my friend’s case, he runs a large regional real estate business. His agents can be worth $400 an hour if they are producing lease agreements. But if they spend too much time at a keyboard posting sales funnel details, they are worth more like an admin at $25 an hour. Which would you rather be $400 an hour or $25 an hour? Yes, it can be that extreme.

Take a Look

Think about the things you decide to take on each day. There are 86,400 seconds in the day. That is one universal truth we all share, regardless of station in life. The way you spend those 86,400 seconds makes all the difference in the world for determining your success.

Focus on the big things you need to knock out each day. Do those first. Give them your full attention, no multi-tasking. You can add back the smaller tasks, later. Yet be sure you choose wisely whether to offload menial tasks below your pay grade.

Question: What are you doing right now that might be below your pay-grade? You can leave a comment by clicking here.

Originally posted on DougThorpe.com

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What is an Entrepreneur Anyway?

Today, we’re going to do a bit of a 101 experience. I help business owners and executives strengthen their leadership teams, but there is frequent talk about being an Entrepreneur. What is that exactly?

Entrepreneur –  A word that has been associated in many fields and is defined in a variety of ways.

Living with passion

The word itself is of French origin which evolved into meanings that pertain to people who take the risks, founders of businesses and or someone who is accountable in case of failure or success in a business venture. Being a person who founded a new enterprise, it is also understood that entrepreneurs take the largest part when it comes to risks inherent to businesses. After all, they are normally the owners of the company or the business unit.

The common perception with entrepreneurs is that they are the founders of new entities that aim to offer innovative or existing services or products in the market. The talk of profit or non-profit issues also varies, depending on the type of business structure that is used.

Entrepreneurs are, of course, one of the main components of the capitalistic world. They take the largest loses or gains since they are the manipulators of the funds. Central to this is the belief of opportunities in a specific area that requires the filling of the demands. They are like the providers for the needs and thus, they take the gain in exchange for the provision. They are basically service- or product-oriented who device means to create the fillers for the two said demands. The main focus of their acts is towards the gain of profit.

In the United States, there are about 1,800 companies considered to be “large”. Yet there are over 32 million registered small businesses; the entrepreneurs. The segment is clearly a mainstay of the economy.

There are many types of typical entrepreneurs. And because of this evolution from the simple merchants to the more sophisticated corporate men, entrepreneurship has also matured in ways unimaginable when men first thought of selling their own produce.

The Risk Bearers

Risks are sometimes incalculable and rather undefined. They come as problems arise and they develop as more problems sprout. There are no specific ways by which risks come out. They just do and they seem to be integral parts of most business ventures. Entrepreneurs are not only risk bearers, they also take on all the disadvantages of uncertainties.

Risks can be something like insurance principles. Meaning, there are methods by which their intensity or frequency of risk can be measured. Thus, we can provide options in decreasing one’s susceptibility to risks. However, uncertainties may be considered to be more on the subjective side.

Since all risks can’t be calculated and their very nature can’t be estimated, it is easy to assume that entrepreneurs can be characterized both as decision-makers and improvisers. They provide solutions to immediate and long-term demands, which are uncertain, even when business routines are carefully structured.

Entrepreneurs certainly are great risk takers. Without this element of uncertainty, no business can create new, never before seen solutions and products. There are things that must be met with responses that are creative and productive for the business.

The Organizers

Entrepreneurs are typically the founders. It is only proper that they are equipped with facilities that make leaders lead. Founders are the leaders of the pack, they are the builders. They too are planners and the organizers of schemes for giving birth and growth to a business organization.

They are the planners for maximizing the resources. They combine specific factors like land resources, the capital from a partner, the labor of his employees or the resources that came from him to create products that would meet certain demands.

They will then create organizational tactics to come out with the earnings of the profit after everything is settled.

Being the organizers, it is understood that they are also the leader. Organizers always have the authority to set things in their proper places. They can be a leader because of position in the organization (i.e. the founder), but not necessarily a good leader.

Being a good leader is a matter of having a strong combination of values and abilities that will nurture and inspire the team. And because not all are born leaders, nor were made leaders, too few really achieve successes in business. However, leadership alone is not at the core of entrepreneurship. The founder can have a great vision that can become wildly successful, but they must have leadership surrounding them in order to accomplish the greatest achievements.

Entrepreneurship is the will; the will to start with uncertainty and keep believing that it shall, in the end, turn out well.

Next Steps

If your effort to become an entrepreneur could use a boost, I offer two options.

First, you can schedule a short and free chat to discuss your situation. If I can help in any way, we’ll figure that out quickly. LINK HERE to set that call.

Or… you can visit my Finding the Edge website. At this site, I am offering the best collection of resources, tools, tips, and hacks to help new entrepreneurs grow the business FAST! I have partnered with a very successful group of business growth experts. They have poured their 20+ years of experience into this powerful platform.

Right here you can get access to dozens of already-done-for-you ideas for marketing and business growth.

This platform requires a subscription that normally costs $197 per month. But I am offering a year-end/new year promotion that is only $97 per month as long as you stay subscribed. You are welcome to drop it at any time. You can even try it free for one month.

 

The Entrepreneur’s Need for Nimbleness

Being an entrepreneur is not for everyone. Often there is a false assumption that a good product or service idea will be a guaranteed success. The “If you build it they will come” mindset is a great cliché for a movie but seldom plays out as a winner in real business.

Nimbleness

No, success and long-term sustainability require a whole host of ever-changing variables. The truly successful entrepreneur figures out how to navigate these choppy waters, making changes as frequently as they might be required. Plus, when the demand is for them to change, they will accept the proverbial writing on the wall and go with the change.

Nimbly and gracefully making the right changes is what differentiates the highly successful business owner/founder from the rest of the wannabes (as in I want-to-be successful). Wanting and doing are wildly different positions to be in.

Key Management Factors

Several factors, which change in importance as the business grows and develops, are prominent in determining ultimate success or failure.

A study done by the good folks at Harvard Business Review identified eight such factors in a research project(1). Four factors relate to the enterprise and four to the owner. The four that relate to the company are as follows:

1. Financial resources, including cash and borrowing power.

2. Personnel resources, relating to numbers, depth, and quality of people, particularly at the management and staff levels.

3. Systems resources, in terms of the degree of sophistication of both information and planning and control systems.

4. Business resources, including customer relations, market share, supplier relations, manufacturing and distribution processes, technology and reputation, all of which give the company a position in its industry and market.

The four factors that relate to the owner are:

1. Owner’s goals for himself or herself and for the business.

2. Owner’s operational abilities in doing important jobs such as marketing, inventing, producing, and managing distribution.

3. Owner’s managerial ability and willingness to delegate responsibility and to manage the activities of others.

4. Owner’s strategic abilities for looking beyond the present and matching the strengths and weaknesses of the company with his or her goals.

Small businesses are built on the owner’s talents: the ability to sell, produce, invent, or whatever. This factor, in the early stages, is of the highest importance. The owner’s ability to delegate, however, is on the bottom of the scale since there are few if any employees to delegate to.

As the company grows, other people enter sales, production, or engineering and they first support, and then even supplant, the owner’s skills—thus reducing the importance of the owner’s personal skill set. At the same time, the owner must spend less time doing and more time managing or even leading the enterprise.

He or she must increase the amount of work done by other people, which means delegating. The inability of many founders to let go of doing and to begin managing and delegating explains the demise of many businesses during the latter stages.

As a business moves from one stage to another, the importance of the factors changes. We might view the factors as alternating among three levels of importance:

  • First, key variables that are absolutely essential for success and must receive high priority;
  • Second, factors that are clearly necessary for the enterprise’s success and must receive some attention; and
  • Third, factors of little immediate concern to top management.

If we categorize each of the eight factors listed previously, based on its importance at each stage of the company’s development, we get a clear picture of changing management demands.

Entrepreneurship

The changing role of all of these factors clearly illustrates the need for owner flexibility. An overwhelming preoccupation with certain factors is quite important at some stages and less important at others. “Doing” versus “delegating” also requires a flexible management mindset.

Holding onto old strategies and old ways will not serve a company that is entering the growth stages. Failure to find the nimbleness to make these changes can even be fatal.

If you run your own business but are feeling the pressure to make some changes, perhaps you need a Master Coach to come alongside and guide you through the thought process. That is what I do. I’ve been doing it with successful entrepreneurs for decades. I’ve seen businesses of many types. You are not alone. Leave a comment or write an email

(1) To read the whole study, visit https://hbr.org/1983/05/the-five-stages-of-small-business-growth Please note that the study’s findings were written in 1983. Some may argue the findings and recommendations are therefore irrelevant just because of their age.

However, ask any businessman who has made one of these mistakes along the way. They will affirm the need to be this kind of nimble in order to make the best possible changes for the true good of the business. The principles are timeless.

Originally posted on DougThorpe.com

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Do Your Problems Seem Bigger Than Actual Size?

Do you sometimes make things bigger than they really are? When you face a challenge, can you see it in proper perspective? Or do you have a tendency to make things bigger than they really are?

The great social activist Chicken Little was quoted as saying “The sky is falling” when he had merely been struck in the head by a falling acorn.

Big Problems

Blowing things out of proportion can be a problem if you are the one in charge. Yes, that would be a challenge if you do it on a regular basis. Leaders must keep things in proper perspective.

One of my clients introduced me to a new term “catastrophizing”. This means making a situation far greater than it really is. The way we entered this discussion was talking about limiting thoughts. I had asked the client to give me some examples of limiting thoughts they suffer. While a few of the answers were the usual, this one surprised me.

Catastrophizing

As an executive, you are confronted with problems almost daily. Things happen; often not as planned. You have to field questions, hear the news, and make decisions.

What if everything you were given was turned into something far more tragic? What if something someone on your team failed to do was declared a disaster when it is really just a setback or a simple honest mistake?

Think about the energy both emotional and physical you would spend dealing with such catastrophes.

Through my client’s own vulnerability, I was able to add a great word to my coaching. If you act like Chicken Little you will get yourself worked into a panic. You will be running around in a frenzy, stirring up others to join your panic party. Doing this is catastrophizing. Even if you leave others out of it, your own waste of energy and emotional effort can cause conflict and confuse the situation.

Why do people do this?

I don’t practice psychology, so I cannot even venture a technical argument as to why some are prone to act this way. However, I can share an observation from years of leadership experience on the job.

People who catastrophize often do so for several reasons.

  1. A Sense of Dread –  They are convinced life has been mean to them. The proverbial cup is half empty all the time. Therefore, any new event that arises must be bad. They are blinded to any possibility of a favorable outcome.

  2. Lack of Trust –  People who lose trust in mankind look at problems as people problems, all the time. Their way of thinking says the other person is the reason these things are bad.

  3. No Hope –  Theirs is a world of doom and gloom. They are convinced things are hopeless. In their minds, blue skies are really just a funny shade of gray.

Sadly, I have run into these kinds of co-workers and professionals most of my career. Thank goodness they are not everywhere, nor are they in leadership very often. But when they are, look out.

The biggest problem I see with catastrophizing is the waste of energy and resources. Whether the energy is emotional or physical, the expenditure of energy trying to avoid the catastrophe is great.

The Solution

One of the wisest words I ever heard was the phrase “The problem is not the problem.” Think about that. Whenever you are confronted with what seems like a problem, check first see if what you are being told is a problem is really the problem. Here’s an example.

Missed deadlines are usually a problem anywhere. Unless that deadline is a life or death situation, most missed deadlines are bad, but not the end of the world. Having a missed deadline, though it seems big and real, may not be the problem at all. Rather, the real problem may be with the process, procedure, or people. Are the deadlines even reasonable considering the mix of the above elements? Or has someone failed at their task?

Being able to properly discern the root cause of an issue is preferable to simply catastrophizing and running around like Chicken Little.

The sky is not falling. It’s just an acorn.

Question: How do you prevent yourself from catastrophizing your circumstance? You can leave a comment by clicking here.

Originally posted on DougThorpe.com

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Start Your Own Blog Today

There are plenty of reasons seasoned professionals should write their own blog. I’ve been blogging since 2009 when I founded Jobs Ministry Southwest. Back then, it was a great way to share information with the people using our career transition services.

That modest effort got me excited about the power of blogging. From its humble start, my blog has grown into the site you see now with over 110,000 followers and growing.

Blog Writing

Now, as my coaching and consulting businesses have grown, I use the blog to share articles on key topics for managers and business leaders, sharing thoughts about leadership and entrepreneurship (my two favorite topics). Blogging helps cast a wider net, spreading your message across the globe.

I am going to share some of the quick and easy steps I use to build the blog.

  1. Domain names – Get yourself a custom domain name. Most registrations may cost you $12 a year (or close to that). Reasonably cheap for the significance of pointing to a brand name you build.
  2. SiteGround Hosting services – Unless you have a brother-in-law with insane computer networking skills, subscribe to a hosting service. I’ve tried several, but have landed on SiteGround. I love their responsiveness (the site loads quickly despite a lot of overhead/functionality going on). I’ve also found their support to be world class good. To check them out click this link.
    Web Hosting
  3. WordPress – I’ve become a huge fan of the WordPress framework. The themes and templates give you so many options. Some custom themes you buy, but many are free. The free ones can give you a great looking site to get you started. WordPress was created for blogging and has grown into a whole discipline of its own.
  4. Plugins – These are add-on tools you can add to your WordPress suite of code. With plugins, you can add awesome features like social media sharing, guest list management, shopping carts, etc. There are three critical plugins I have chosen to use.
    • Jetpack – a collection of tools that maximize the operation of WordPress, keep statistics, and hacker protection
    • Yoast SEO – helps optimize the valuable search engine optimization aspects of your site and all its content
    • Vaultpress – file backup; you never want to lose your blog
  5. RSS Feeds – Build an RSS feed to allow your content to get distributed to other social media channels automatically as each post gets released. I use Google’s Feedburner.com tools for this task. Opening an account is free. You can customize the tool to grab your posts and push them to channels like Facebook, Twitter, Pinterest, and Instagram all automatically and spontaneously with each post.
  6. LeadPages.net – I use LeadPages to help me promote and manage product offerings, events, seminars, webinars, and my other client attraction efforts. Build your own landing pages with LeadPages. As an example, my promo for Big 5 Performance Management is done with LeadPages.
  7. MailChimp – Email management tools. Using an effective email management service is vital. I’ve tried several and have landed on MailChimp. I like the ease of use and the straightforward tools they offer. I know there are other services that are equally effective, but after several disappointments (and higher costs) I landed with MailChimp.
  8. Fiverr – Occasionally you need some freelance skill sets to augment what you are doing. Fiverr.com is tremendous for this. Fiverr is a collection of freelancers from all around the world. They call their projects “gigs”. As the name might imply, you can get help for as little as $5 per “gig”. I’ve used Fiverr resources for things like graphic design (videos, book covers, and logos) or getting a press release written. I’ve also used them for social media promotions to reach a broader audience for book releases or other promotions I am doing. Yes, occasionally I get a less than acceptable outcome, but I only invested a few dollars versus hundreds through other sources or contractors. It’s a winner for simple outsourcing.

About Content

There are numerous opinions about content creation; write it yourself, borrow others, merely re-post, etc. I’ve taken the basic approach that is at the core of blogging, “my message, my voice”. Yes, I study many different sources and try to compile credible resources to cobble my articles together. Anything I use gets proper attribution for its source.

The content I write is intended solely for your use. If I can’t help you, a busy professional, do more right where you are, then I’ve missed the mark. If you decide to start a blog, you need to decide what your purpose and message will be about.

There are also great debates about when to publish and how often. The golden rule I learned early on is simply “be consistent”.

To that end, I choose to write at least 2x per week. By using the great scheduling features of WordPress I can accumulate a volume of articles and stage them for automatic release on whatever schedule I choose. By using this queueing method, I never have to worry about publication deadlines and getting writer’s block over the deadline pressure. Typically, I have content scheduled at least three weeks ahead, sometimes more.

I’ve juggled the release days of the week, experimenting with response rates and open rates. There are other blog writers I know who limit publication to once a week. If it works, great! Just be consistent. Allow your following to become reliant on your consistency.

Disclosure: By clicking some of the links above, I may receive a small affiliate commission from the service provider. Rest assured I would not promote anything I don’t use myself. But even if I didn’t get any commissions, I really like these tools, and I think you will too.

If you want to let me help you with organizing your online presence, send an email to my assistant Karla 

It’s No Fun Casting Pearls at Mules

You know when you’ve been trying to help someone? I mean really help them, but they refuse to hear what you say? We’ve all faced the moment when we realize that someone is being a stubborn mule. I don’t mean to be cruel or harsh, but face it, you know what I am talking about.

Maybe the person is an employee or a boss. Or worst case, they are a family member, maybe even your spouse. Ouch! Regardless of the situation, there is an emerging reality that all of your valuable insight or suggestions are going unheard. The precious pearls of wisdom you try to share are falling on deaf ears. Here’s the solution.

While it is very easy to spot stubbornness in others, sometimes we are guilty of acting that way too. As a leader in any situation, you must at times deal with personalities that act stubborn. But what do others have to do when you are the stubborn one?

If you, the leader, are the one being the mule, the team will stop wanting to be open with you. They will pull back from the interaction. It’s human nature to avoid confrontation of this kind. In other words, it is easy for those around you to start asking themselves “why bother?”

What is Stubbornness?

Stubbornness is the tendency to resist any form of change.The person with stubbornness is driven by a fundamental resistance to being forced to do anything or experience anything against his will. The basic stance is, “No, I won’t, and you can’t make me.”

The personality with stubbornness is over-sensitive to the possibility of having sudden or unwanted change imposed upon itself and sees the threat of it everywhere. Anything new or different or involving change is perceived (subconsciously at least) as a direct threat—even if the change in question is positive and in the person’s best interests.

Like all character flaws, stubbornness involves the following components:

  1. Early negative experiences
  2. Misconceptions about the nature of self, life or others
  3. A constant fear and sense of insecurity
  4. A maladaptive strategy to protect the self
  5. A persona to hide all of the above in adulthood

Stubbornness is the most prevalent character flaw there is. We all have some degree of stubbornness within us, but more people have stubbornness as their chief feature than any other.

As with every chief personality feature (or flaw), the key is becoming conscious of how stubbornness operates in oneself. If you have stubbornness, you can begin by observing your outward persona in action:

  • Do I have a tendency to justify the status quo?
  • Do I generally argue against change or newness on seemingly logical grounds?
  • Do I often deride new ideas or suggestions?

The Deeper Dive

To fully eliminate stubbornness, you have to do more. You must agree to dig deeper.

  • Why do I resist change, newness? What am I afraid of?
  • What do I fear would happen to me if I allowed uncontrollable changes to happen?

Approaching the deepest level you may need outside help in the form of a counselor, therapist, coach, or at least a close friend:

  • Where does this fear of new situations come from?
  • How was I hurt in the past?
  • Can I let it go?

By genuinely exploring the source of your concern, you can calm the fears and doubts that cause the need to be stubborn. Yes, rigid rejection of change can look like stubbornness, yet it is usually tied to a deeper concern for facing change. If you agree to explore your inner resistance to change, you can begin to unwind the tangled views and actions that come out of being stubborn.

As you reduce the need to resist change, you can inspire others to be more open to bringing you ideas.

Question: What have you done lately to avoid being the stubborn one? You can leave a comment by clicking here.

Portions of this text come from writings of Barry McGuinness

Originally posted on DougThorpe.com

If you enjoyed reading this article, please recommend and share it to help others find it!

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Don’t Waste Time Setting New Year’s Goals

As the calendar turns to a new year, there’s always a lot of hype about resolutions, planning, and goal setting. I promise this is NOT your average article about goal setting.

Depending on where your past year ended, you may or may not be ready to do a goal-setting exercise. I see a couple of options for where you might be standing right now.

  • Things have been going well, you need to do more of the same
  • You feel stuck or disappointed with prior results, so you want to make a change
  • You’re not sure about which direction to go

Two out of three of these conditions are not good. I’m convinced this is why goal setting seldom works. If you are already living in scenarios two or three, you aren’t ready to plot out new and different directions.

You Need a Change

Ask a room full of people to close their eyes and point North. When everyone opens their eyes, fingers are pointing all over the place. (Try this some time; it’s a great icebreaker).

The message is that “north” while being geographically available for specific identification and location using the right equipment, can conjure various meanings depending on one’s perception.

During life-changing moments our perception of our own true north can be equally confusing. For people who find themselves in career transition, I coach and teach the concept of resetting your true north. Perhaps re-set is not the perfect term, but what I mean is that you should get back in touch with that center of your being. Revisit the core values, goals, and beliefs you once held dear. Allow time to rekindle a fire that might have burned low or even worse, burned out.

When you find that true north again, any decisions you make about the next chapter of your life will have far more meaning and purpose.

Finding your true north applies to all major decisions. Nothing should be decided without checking it against whatever standard you believe is your true north.

There is Risk

There is a risk in what I am saying. All around me I see a slow shift in values and beliefs from what I grew up with. Here’s an example.

I live in a large planned community with a golf course and other very nice amenities. The golf course has a beautiful lake right in front of the clubhouse. It’s not a big lake, but definitely bigger than your average pond. The lake is posted for no swimming and no fishing. It’s posted mainly as a safety thing for young children who might venture that way. Simple enough to follow, wouldn’t you think?

Well, one of my neighbors spied a man and a boy out there one afternoon after work. From all indications, they were a father/son team. They were fishing! Yes, in broad daylight, casting away. The neighbor made a comment on the area Facebook page. We have a very active neighborhood engagement via that page.

The thread blew up in less than 2 hours. Here’s what people were saying. Some agreed with the first poster who argued the Dad was violating the posted sign, so what value was that teaching the young boy?

Son “Hey Dad, what does that sign say?”

Dad “It says no fishing or swimming.”

Son “But we’re fishing. Should we stop?”

Dad “Nope. It’s OK, let them try to stop me.”

Others got outright angry at the thought of anyone having an argument with a Dad spending time with his son, even though it involved breaking the law together.

The way that people spun the meaning of the moment and the variation of core values expressed in this matter made my head spin. Yes, it was radically different from my own upbringing. I had a hard time seeing the merit in letting the people fish despite the posted signs against such activity.

There are questions of respect, honor, following the law, making your own law, and so on. Where is the true north here? Who is the judge?

Clearly, it is a personal decision to honor a higher standard.

Make the Right Choices

Spending your time at the first of the year to set goals and make resolutions is valuable, but only after you have checked back in to center your self on your core values; your true north. Don’t waste time with the planning and goal setting until you re-establish your purpose and value.

Question: What have you done to reset your true north BEFORE you begin planning for the New Year? You can leave a comment by clicking here.

PS – OK I don’t literally mean “NO Goals”. You have to set your base before you start setting goals. I see too many professionals who make major mistakes in their planning because they let their true north shift too much. They want to stay centered on the real north, but if things have slipped or wiggled out of alignment, you have to get those core values reset before you plot another set of goals, plans, or resolutions.

Originally posted on DougThorpe.com

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Look Back for 2017

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Why Entrepreneurs Need To Move Away From FOMO

The ‘Fear Of Missing Out’, mainly known by its acronym FOMO has become a much talked about behavioral phenomenon ever since social media has taken over our lives. The word itself became so popular that it was added to the Oxford English Dictionary in 2013!

Until now, FOMO was a term that was applicable to the Internet junkies. However, given its psychological impact, it is now also commonly used to describe a human tendency. Surprisingly, FOMO has taken even the community of entrepreneurship in its grip.

Before we delve further into how entrepreneurship and FOMO are related, let’s first understand what exactly FOMO is.

study titled ‘Motivational, Emotional and Behavioural Correlates of Fear Of Missing Out’ defines FOMO as

the uneasy and sometimes all-consuming feeling that you’re missing out – that your peers are doing, in the know about, or in possession of more or something better than you.

In this study, nearly three-quarters of young adults reported that they had experienced the phenomenon.

People who are experiencing FOMO are always craving for more and possess ‘I want that or I want to know too’ attitude. If they don’t get what they want, it instils anxiety and depression in them.

Now, let’s understand FOMO in the context of entrepreneurship.

The first FOMO that entrepreneurs experience is related to opportunities. Entrepreneurs are wired to think that there is nothing worse than missing an opportunity that could have changed their life. This opportunity could be an idea, an investor or anything that matters to launching or growing the business – if only I had an opportunity to put my idea into action, if only I could have one meeting with the investor, and so forth.

As an entrepreneur, you should accept that entrepreneurship is all about success, failure, and missed opportunities. It’s good to be ambitious and seek opportunities, but don’t let this become an obsession. Sometimes, you just need to turn down an opportunity and wait for another one. You have to take a leap of faith and learn to say ‘no’. Like Kenny Nguyen, CEO-Founder of Big Fish Presentations and co-author of the book ‘The Big Fish Experience’ did.

He refused to attend the popular reality show ‘Shark Tank’ which gives aspiring entrepreneurs a platform to make business presentations to the investors. Of course, it was a big opportunity but somehow he felt that it was not the right time for him to participate in his venture was only a year old.

Instead, he focused all his energy on making his startup the best among the others. Today, Big Fish Presentations is one of the fastest growing companies in the startup ecosystem. Kenny Nguyen advises his peers to focus on the right opportunity, not every opportunity.

Entrepreneurs also suffer from FOMO on success. Agreed that every entrepreneur wants to become a winner, but success takes its own sweet time to give its taste to you. It’s one thing to have a vision and another thing to forget the journey that takes you there.  You should not let the fear of ‘what my successful business look like’ to stall your today’s efforts to grow it.

Keep the success in mind, but do not expect an instant win. Sometimes, it is better to adhere to the maxim ‘Slow and Steady Win The Race’.  Anu Sharma, the founder of HR Practice firmly believes so and says, “It’s not always the big leap which is needed to start off – it’s fine to take small steps and begin your journey.”

Then, there is also FOMO on a commitment to the company. Give the time, energy, money and emotions that they have invested in their business, entrepreneurs fear of exiting it even if they know that it is heading south in terms of expected targets, revenue, and profits.

This kind of behavior is also known as ‘sunk cost fallacy’ which make them continue running their company even when it is not the best thing to do. They fear on missing out on the possible success the business can bring if they stay invested.

The millennial entrepreneurs are believed to be the worst sufferers of FOMO syndrome. In fact, a report on the millennials cites that FOMO is not a cultural phenomenon, it’s an epidemic. Entrepreneurship is a trend for the millennials.

Everyone has (at least they think so!) or is looking for the billion-dollar idea that will put them in the league of Azim Premji, Sachin Bansal, Sergey Brin or Mark Zuckerberg. They want to experience entrepreneurship just for the thrill of it, without thinking it through.

FOMO in entrepreneurship is good as long as it does not make you depressed, stressful or restless. It can have a serious impact on your mental and physical well-being. Every entrepreneurial venture has its own story and journey. You can’t guarantee success or avoid failure – you can only keep working on specific goals and recognize the tradeoffs.

This article contributed by Vijay Shekhar Sharma. It first appeared in Inc42.

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