Most People Overestimate – However …
Most People Overestimate what they can accomplish in one year.
The Vast Majority of People Seriously Underestimate What They Can Accomplish in Ten Years.
The reasons for this are clear. They include:
- As a rule we are optimistic;
- We do not see all the obstacles up front;
- Often we do not factor in adequate amount of time to learn new things;
- Our expectations of people accepting the product or service we offer is a bit high. Hence it takes longer to communicate the benefits of our offering – We are very aware of them but others are not and it simply takes longer than we expect;
This is why people say it costs three times as much and take four times as long to accomplish a project (e.g. renovate a house / start a new business …)
But … the good news is that
The Vast Majority of People Seriously Underestimate What They Can Accomplish in Ten Years. The reason for this is that we do not take into account the effect of accumulation. For example, the efforts put in during year 5 are on top of and in addition to the effort put in during years one to four. There is an expanding, if not exponential, effect.
It is because of this compound growth effect that there is a saying the “Most over-night success stories took 15 years to get there.” It is simply rare to get there in 1 or 2 years.
This is just one reason why I encourage businesses to plan at least 5 years out. In my own case, I set a twenty year BHAG when I formed Peacock Business growth.
So, I wonder what you can accomplish in ten years?
It is always worth working through our dreams and goals with someone else. So, if you want to grow your business or firm you are welcome to contact me to develop these.
022 419 0248