Welcome to part two of my thoughts from the ACS talk I attended earlier this week by Stephen Kowal.
As the title says, ‘Short term pay, long term gain’. What does this mean? Sometimes in order to achieve your goal and reach a point that you are focused on you need to make some sacrifices (more like ‘changes’) now. Sacrifices is a bad word to describe this as I would rather look at it as making ‘strategic changes’ now, in the short term. This may be a decrease in salary, a demotion, or working in an area that you may not have a real interest in, but these ‘strategic changes’ will help lead you in the right direction. These strategic changes may help you get that promotion, start a business you have been meaning to get up and running, or take yourself to a level you only dreamed of.
As entrepreneurs, we should understand this notion of ‘short term pay, long term gain’ better than anyone else. We are the ones that are able to take the risk, make that strategic change (or sacrifice for those that prefer the word), and know that in the long run, down the track, what we are doing now is for the greater good.
Passion
Take the risk, give it a goal, and be passionate about your goal. Don’t let ego or anything else get in the way. Remember to plan for the short term and the long term so that your goals and dreams are realities.
Another important thing Stephen mentioned was that over specialisation can be a killer depending on your goal. I found this interesting and I think that as entrepreneurs, whilst we want to be involved in every aspect of the business, there comes a time when we need to give ourselves a reality check and make sure we are not ‘over specialising’ in any area.
‘Your goal can and probably will change many times’
This is something to embrace, welcome and make the most of as entrepreneurs. Don’t fight it off but rather make the most of the exciting entrepreneurial journey.
Balance
In business, balance is important. So remember to have professional goals, personal goals and social goals. This will ensure that you are a better you, that you have balance, and that you continue to enjoy what you do. Working towards these goals will benefit you in all areas of your life. As entrepreneurs, often we tend to focus too much on our business, our idea and what we are trying to create and we forget there is life outside of the business. Always remember that you have 3 areas of goals; professional, personal and social.
It was mentioned that there are three important factors to success. These are:
- Personality
- Passion
- Drive
Remember that, and use it to your advantage.
Finally, here is a quote from the talk, and is something that will motivate every entrepreneur. Keep this in mind and your goals are only a short distance away.
“Obstacles are those frightful things you see when you take your eyes off the goal”
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Click here to read my previous blog posts about the talk, ‘A straight line career path doesn’t exist’ and ‘ACS Young IT Talk’.
Motivated? Check out my post on, ‘There are two kinds of companies: brave and dead’. It is a must read!!!