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Category:Business Coaching Business Management Business Systems Executive Coaching Family Business Profitability Sales Success In Business 
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Entrepreneurs and setting goals is a popular topic. Dan Sullivan had a perspective worth sharing in the May issue of Success Magazine. The concept is rather than trying to double or 2 times where you are– go for 10 times where you are. “WHAT?” I hear you all scream. “It is hard enough to achieve 2 times where I am, how on earth can I even consider a 10 X goal?” That is exactly the point.

A 2 X goal is really just pushing what you are already planning into the future (assuming you are planning). The ability to achieve the 2 X goal is a probable anyway. There really isn’t rocket science, you know the basics—hard work and you will achieve the 2X goal.

Now for the 10 X goal that starts pushing you out of your comfort zone. I can already feel the squirming. A 10X goal forces you to look at what is really going on in your business. It forces you to look at inefficiencies. It challenges you to think out of the box, to put systems in place to handle 10X, to understand your business, structure your business, and PLAN. You must now think differently, observe differently, plan differently and execute differently. Once you start thinking 10X you will notice opportunities, changes, and perspectives. Then you can start making the changes that are required.

Here are my perspectives and 4 ¾ downsides to this type of thinking:

1. Shooting for 10 X – you might not make it, you might only reach 5X.

2. 10 X thinking creates perspectives on your business and forces planning.

3. You don’t know how to think 10X? What better way to start looking at everything from a different perspective? Read, ask, get advice, reach out to others, be humble. Even if 10X is achieved, I guarantee your 3, 4 and 5X will be more profitable.

4. For 10X I need to look outside the box, and that creates FEAR. False Expectations Appearing Real – so what are your real fears? Figure them out, since they will probably keep you from achieving 2 X. There is no better time than the present.

4 ¾ Reality is I don’t see any downside to 10X type of thinking. The danger really lies in 2X thinking. Thinking too small limits your potential, who you can be, and can lead to my favorite quote: “Hell on earth is seeing the person I could have been!”

False Expectations Appearing Real
Forget Everything and Run
Face Everything and Rise
 
Each of the above can be our reaction to FEAR.  Often it saves our lives or keeps us from harm.  When we are young (hopefully) we learned not to put our hand on a hot stove.  That fear keeps us from getting hurt.

Yet, sometimes our fears keep us from moving forward.  Fear of  failure, fear of being embarrassed, fear of public speaking, fear of upsetting an employee, fear of holding them accountable, fear of scarcity... the list is long.   Then there is the age old fear of spiders, unless you lived in my house growing up.  My mom didn't like spiders and would vacuum them up.  My dad and I would rescue them before she saw them and hide them in a plant (unless it was a black widow - those we killed).

How do you use your fears?  Do you use them as a motivator to overcome and move forward?  Do you use them as an excuse to stay in your comfort zone?  Do your fears hold others back?  You are afraid of heights so you won't allow other family members to stand close to the edge?  You are afraid of failure, so you won't allow your employees to take a risk?  Yes, you see the potential for high rewards, yet, there is a high potential for failure as well.  

Where we end up long term depends on how we challenge ourselves to face our every day fears.  When I started to write, The Family Business Book, my fear was having the first person (outside my own family) read it. Would they like it? Did it make sense?  Was it worth purchasing?  If I had allowed my fears to control my actions, it wouldn't be published.  The book wouldn't be helping family business owners look at their business in new ways and have new and different conversations with family members.

Now the idea for the second book has been born and is in the works.  Are the fears there?  Yes they are.  Will I move through them?  Absolutely. Will I breathe a sigh of relief after the first presentation on the topic (which is before the book is published) is done and I get feedback - absolutely.

Yet, even if I failed, I have learned a great deal on the journey.  So what are your fears and how will you face them - starting today?

 

 Why do we, as a society, have such a hard time dreaming?  As children, we dream on a regular basis.  We fly, conquer the world, create imaginary friends, and plan to accomplish things never considered by anyone 20 years of age or older. 

 Then the aging process starts and conformity begins.  We conform not only in our behavior (which is mostly good), but in our ability to dream.  One by one, we are told (and often not outright), that our dreams are impossible. Our dreams are unreasonable, unreachable, or even unthinkable. You might have even heard, “Why would you ever try that - you might FAIL!”

 What this creates is a society of control freaks.  Some control freaks become business owners and owners who want it done their way, believing their way is the only right way.  What they end up losing is the ability to leverage the world to get things done for them.  They don’t hire for new ideas, they hire for fitting into the box the business owner created.  The problem: business owner wealth creation is often best accomplished by people with the desire to dream in a world without boxes.

 Make 2014 a year of Dreaming without Boxes!  What does that mean?  It means stepping out and doing things differently.  A perfect example is Steve Jobs who created something that was new and different that we didn’t know we needed!  Yet how many of us want to revert back to what life was like prior to first Apple computer?   As a business owner, you need to get away from the day to day operations at times and give yourself time to dream, to challenge the status quo, your current thinking process, and to be open to new ideas. 

 You also must be willing to let others challenge your thinking – they also have dreams that might allow you to fly, conquer the world, and accomplish things you were told were impossible.

Dream big dreams for yourself, your family, and your business in 2014.  Dreams do come true, but only if there was a dream in the first place!

 

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Janna Hoiberg
Telephone : 719-330-7195

Colorado Springs, CO 80920 
or

Moultonborough, NH 03254

Colorado Springs Location