As entrepreneurs, we’re constantly told to chase our dreams. After all, striking out, being your own boss, calling the shots – that’s what people think of when they think of pursuing this path. It is the dream. But sometimes, our pie-in-the-sky ambitions can hold us back from real success here and now.
There’s a difference between the dream of owning your own business and dreaming of winning the lottery. Growing infatuated with unrealistic goals will derail your progress. I don’t want to see any young entrepreneurs squander their potential on the unattainable – so here are a few ways to keep your ambitions big but still within reach.
7 Ways to Ground Your Goals in Reality
Tip #1 – Never rely on luck.
I won’t deny that luck plays a role in success. Sometimes, making it big is about being in the right place at the right time. But these “lucky breaks” and lottery wins are few and far between. The real heart of the problem here is that you are passively waiting for success to come to you rather than going after it yourself. Take success into your own hands. Work hard, make connections, and better your business.
Tip #2 – Detail action steps.
The difference between a dream and a goal is simple: action. You ground your fantasies of success in action steps. You should be able to say, “Okay, this is where I want to be, and this is how I’ll get there.” If your goal isn’t something you can influence and work towards, it’s not much of a goal.
Tip #3 – Do your research.
Nothing shatters delusions of grandeur like the truth. When you have a dream, research it. Learn about the industry, the resources you need, the laws and regulations, and the nitty-gritty details of getting your dream off the ground. This research will reveal just how possible something is. Too many people have the wrong idea about how businesses work! Do your research and get that realistic picture of what it takes.
Tip #4 – Stop making comparisons.
The old adage says, “Comparison is the thief of joy.” I think it rings true, especially in this hyper-competitive entrepreneurial sphere. We all want to be the next success story. We want to achieve our financial and professional dreams. We see others who have, and we want it for ourselves. But we also must understand that we don’t make it big just because someone else did – not even when we emulate their steps. You come at a different time, in a different context, with different connections and resources. You must chart your own course. While we can learn from those who’ve come before, chasing what they have is often a pipedream.
Tip #5 – Craft a timeline.
Your dream will always remain out of reach if you don’t give it an expiration date. We get busy, distracted, discouraged, and lose sight of what we want when we don’t intentionally pursue it. And nothing emphasizes a priority like a deadline. Base this deadline on research and on your necessary action steps. Where do you want to end this quarter? The year? Where do you want to be in five years? Pair your action steps with time-oriented goals.
Tip #6 – Assess your ability.
We’ve all seen it online – someone who overestimates their skill at their desired craft, thinking they’ll get rich. There’s nothing wrong with hustling and trying your hand at something new. In fact, I’d encourage it! That said, you need an honest picture of your abilities. Where do you need to improve? Where are the gaps that need filling? What skills do you need to take your business to the next level? Constantly assess and reassess yourself!
Tip #7 – Seek feedback.
Who in your life knows how to be brutally, constructively honest? As entrepreneurs, yesmen are of no use. We need people who can speak the honest truth about our ideas, abilities, and actions. This feedback might sting, but it also helps you objectively assess yourself. These people can see your blind spots and spur you on to true greatness. Value feedback. It’s what will get you where you need to be.
How do you keep your goals realistic? Share your thought process in the comments.