“People often overestimate what can be done in 1 year, and underestimate what can be done in 10” – Bill Gates
It’s important for young people, especially entrepreneurs, to understand the massive value that comes with having time. Today I want to talk about an idea that I believe people should be very aware of, an idea that will shift your outlook on the process of setting expectations.
I often see peers, and am even guilty myself, of aiming sights on shorter-term goals. These are things like having a certain amount of money in a 3-5-year span, growing an online following to a certain level in a set period, or getting to a certain career milestone by age ____. It’s important to understand that although goals are absolutely necessary for success, unrealistic goals will do nothing but cause discouragement and cripple progression. The most important part of creating value for yourself is placing focus on the process, as a proper process will almost always lead to desired outcomes.
Now, I am aware that focusing just on the process while waiting for the returns can be difficult, so here are a few tips for managing the time between your starting and your succeeding.
1. Keep Your Head Down – Focus on Yourself
Looking around at what others have, especially those the same age as you, will create absolutely no value for yourself. Don’t become fixated on what others are owning or doing, especially not in their mid 20’s. Your aim shouldn’t be to make several thousands in your 20’s but to make several millions in your 30’s, and the only way to pull that off is to lay the proper foundation. Don’t get caught up in the comparison game, as the moment you start thinking about how others did something is the exact moment you fall behind. Your goal should be to grind every day, regardless of the outcome, and be confident that your work will eventually bring results.
2. Stay Active – Mentally and Physically
The ability to keep your mind and schedule active throughout your 20’s will make a world of difference. It is important to find new sources of income and inspiration to allow for acceleration, as the busier you are, the more of a return you can expect to receive. Sitting on new ideas or taking entire days to rest do nothing but stunt growth, the time you have now is the most valuable it will ever be.
3. Set Milestones
Setting milestones along the road to success will allow for much-needed encouragement and confidence. As mentioned above, setting goals too short-term will have negative effects, however, it’s important to set milestones while on track to the long-term goals as they work to remind you of the value being created. The positive reassurance that comes from minor accomplishments will help with your mindset and prevent you from giving into in the ever intrepid too-short-term goals.
This post originally appeared as “TIME AS AN ASSET” on the Investment & Entrepreneur Business Blog Ernest Mind.