Accomplish Your Executive Goals By NOT Trusting Yourself

As January draws to a close, many people realize their New Year’s resolutions are falling by the wayside. Why is this such a common experience?

David DeSteno is the author of the forthcoming book The Truth About Trust.  In a recent column, he points out that you cannot really “trust” yourself to implement your goals.  He outlines his research demonstrating that goals we set for the future are often linked to emotions present when we set new objectives.  He adds that as these emotions fade, so does our drive to accomplish the original goal.

For example, at New Years you might feel overweight and want to be thinner so you resolve to have a salad at future dinners. Then, as time passes, your enthusiasm for salad fades. Even if you are successfully eating salads during the first week of January, at the start of week 2, potential distractions may arise. As you get closer to that fast food restaurant on your drive home from work, your desire for that cheeseburger grows. This distraction threatens to circumvent your ultimate goal of weight loss.

Most alarmingly, DeSteno asserts that, not only will we break these promises we make to ourselves, but we will then create a story that justifies our actions and, subsequently, forget about our failure. Why? Because we don’t want to believe that we are untrustworthy.

As an Executive Coach I am interested in the results of DeSteno’s research because so much of what I do involves setting goals with clients to achieve metric outcomes. DeSteno’s findings underscore how important it is to add interim steps to ensure that those goals are realized. One effective tool is to remind a client, or for a client to self-manage and remind him or herself, of the emotional enthusiasm they felt when they initially set their goal. Emotions fade as time passes, so the ability to reignite their present day apathy into their former passion, increases the chances of successful goal completion.

Here are a few other coaching tips to optimize successful goal completion:

  • Visualize the future and why your goal will help you in the long run.
  • Make it fun! If you are going to the gym, bring music you like.
  • Utilize task management systems and apps so they help you stay connected to your goals.
  • Set smaller, manageable goals every day that serve as stepping stones to your ultimate or what I call “BIG” goals. Breaking up a big project into smaller pieces makes it less intimidating and allows you to retain your initial optimism.
  • Enlist a friend or family member to hold you accountable.

Let me know if you have other ideas for achieving goals that have worked for you!

Warm regards,

Joe Siegler

Dr.Siegler's BioDr. Siegler's Book

The Pitfalls of Starting Your Own Business

In the recent New York Times article “Maybe It’s Time for Plan C,” lawyers, stock-brokers and IT professionals lose or quit their high-profile jobs and pursue their passions to become entrepreneurs. But they soon find that the “dream job” of owning a business includes a lot of pitfalls.

Owning your own business, according to the article, involves long hours and the added stress of being the driving force behind nearly every aspect of your self-fashioned career. According to the article, the majority of new business fail due to a lack of preparation and experience. While many of the subjects enjoy their new lines of work, the article asks readers to think long and hard before they try being their own bosses.

Starting your own business talks up a tremendous amount of time and effort. If you’re considering self-employment, here are some important executive coaching tips according to what I see as effective:

  • Identify your reasons for starting a business. There are major risks with going into business. Questioning your motives is an important executive coaching tool to help focus on what you really want. What’s important? Family? Job security? Personal freedom? How would starting your own business help you get what you really want out of life?
  • Keep your new business in balance with the rest of your life. Being your own boss may make you feel fulfilled in one area, but it can also throw off aspects in your family, spirituality and community spheres. A sudden change in your career means you’ll have devote time and effort to balancing out the rest of your life.
  • Determine your strengths and weaknesses. If businesses fail due to a lack of preparation, a good coaching technique is to list your best and worst traits and skills.
  • Talk to an entrepreneurial coach. The right executive coach can help you if you want to start your own business. They can help in a variety of areas such as how you’ll prepare and implement your ideas and plan for future growth.

Starting a business is a huge risk. As you think about what sort of business you’d launch, consider your motivations, and make sure you’re using all the resources at your disposal when you take the entrepreneurial plunge.

Have you considered self-employment? What is your experience?

JS

 


Dr. Siegler's Book

Dr.Siegler's Bio

Should I Stay or Should I Sell?

For many entrepreneurs, it’s hard when deciding to sell part or all of their company. The New York Times piece, “Why It’s So Difficult for Entrepreneurs to Head for the Exit,” had a Q&A with, Paul Spiegelman about his reluctance to sell a company he built from the ground up. His story serves as a mirror for those in the same position. For Spiegelman and for fellow entrepreneurs, selling a company often goes beyond a paycheck.

Spiegelman considered handing over his company to investors for the sake of growth and fresh capital. Though he saw the advantage of an outside investor, the possible damage to the brand of his company was too big a risk. For those in the same position, it means looking at yourself as much as you look at your business.

There are some coaching tips to help those who are in the process of making one of the hardest decisions as an entrepreneur:

  • Ask yourself what you want as an entrepreneur. Do you think it’s time for you to move on? Do you have any interests beyond your company you’d like to seriously pursue? Is there more you want to do with your company?
  • Weigh the risk vs. reward of selling part or total control of your company. For instance, it could be useful to have outside investors with useful capital and new ideas. But it also might mean less or no say on company strategy.
  • Consider the doubts about selling. Would you regret it? What would you not want to have happen to your company if you were to sell? Would you feel better leaving it in the hands of a relative? Do you still want to work part-time?

Speigelman made his decision based on what he wanted for his company. In a decision like this, find out your priorities and be confident in your final decision, even if your answer is “no.” Sometimes capital is not a “good enough” reason to sell.

Hero: Bob Herbert

The already-reeling newspaper medium is suffering another loss: Bob Herbert is leaving the New York Times. In his final column for the paper, Herbert has published a useful summary of our country’s worrisome strategic mistakes. In “Losing Our Way,” Herbert finishes an inspiring career at NYT of publishing the hard truths when other journalists are afraid to report.

The America in “Losing Our Way” reveals how greed rules as the most wealthy keep all the profits to themselves, leaving the bottom 95% to compete in a ever-more bleaker job market. Even bright young graduates are forced into careers that limit their ability to accomplish goals. Wages are too low to think about starting a family, and the future seems more uninviting every day. In times like this, peak performance in career planning is more important than ever.

How can you, or someone you know, hope to rise above these challenges and conquer the competitive job market?

  • Solidify your vision of your ideal job. Excelling is far easier when you have the passion for your work.
  • Launch an entrepreneurial endeavor. The Amplifier Blog has previously posted tips for doing this such as a guide to planning, a list of excellent resources, and some advice on keeping your plans flexible.
  • Always keep an eye on your personal brand and how potential employers might see you.
  • Be flexible with your business/career plan. Be willing to change directions when you know that is what is needed.

Bob Herbert’s final column at the New York Times is an accurate portrait of a country in crisis, but Full Life’s coaching services can inspire you to meet the heightened challenges and and compete for diminished resources.

What are your thoughts?

JS

Keeping Your Business Plan Flexible

A recent article in the New York Times called “Jilted in the U.S., a Site Finds Love in India” gives an interesting perspective on entrepreneurial endeavors. When the dating site Ignighter.com started a few years ago, the idea was a dating site with a unique twist: to avoid the pressure of setting up a classic one-to-one date, the site allowed you to arrange a group date for multiple people. The idea was fresh and the site gained some popularity in the US, but plateaued and became a disappointment stateside. The founders got some good news, though, when the site’s popularity in Southern Asia, especially India, began to climb. The team has now re-focused their attention on India and is enjoying great success as a result of adjusting to the market’s unique elements.

Time and time again, entrepreneurs that are flexible with their ideas appear to be the most successful. Although the site’s focus on group dating may have been misunderstood in the United States—some consumers may have assumed on first visit that the site was aimed at swingers—its unique charm has been largely embraced by an unexpected culture. The article suggests this is largely due to aspects about dating culture in India, especially the taboo against single men and women appearing in public alone. Although their service was developed with American consumers in mind, it appealed to an entirely different nation on the other side of the globe. By embracing this, the site’s creators are enjoying success that may not have occurred had they not been flexible.

Some tips on finding your market as an entrepreneur:

  1. Look for the most enthusiastic customers you get early on. Find out what they love about your service and how they’d improve it.
  2. Pay special attention to where your best customers come from. Don’t assume they are in your own backyard. Instead they may come from another land.
  3. Weather the slow times and keep an eye open for your niche markets. Find them if they don’t find you.

Be open to surprises regarding who is your best customer. It is always a little different from what you would think.

How else can you find your ideal customer?

JS

Hero: Steve Jobs, Tastemaker and Builder

With recent news that Steve Jobs of Apple is taking medical leave, it’s important to take stock of what the man has done. A New York Times article about his leave of absence reveals his diverse qualities and talents: leader, builder, tastemaker. The man built a company from the ground up and preserved his integral roll in developing the products that his company released. Steve Jobs has influenced the way we live and continues to grow an amazing legacy.

According to the NYT article, Jobs doesn’t base product cycles on consumer demand: he *creates* the consumer demand. “Mr. Jobs, by all accounts, relies on intuition and his own sense of taste, in decisions ranging from hiring to matters of product design.” He builds what he knows people need and want, even if people don’t yet know that they need and want it. And this philosophy has been extremely effective: Apple’s products and systems are streamlined, efficient, and elegant. The computers boot up in moments, the phones can multitask, and they usually bring joy to their users. This wouldn’t happen if Apple’s products were designed by committee to fit perceived market demands.

Steve Jobs has pioneered release of products that push the envelope of what is possible with new electronics. Before, Apple’s competitors had to compete with Apple. If you recall, consumer electronics were utilitarian, designed to fill a role, and not much else. But Apple has continually raised the bar for other companies.

Steve Jobs inspires the world. Jobs shows us that we ought not be constrained by our positions. The creativity and drive of one man has raised the level of creative design in our society.

JS

More New Resources for Entrepreneurs

Last Tuesday, the New York Times ran an article about a kitchen for rent in New York City called “A Kitchen-for-Rent Is a Lifeline for the Laid-Off.” The article explores the benefits offered by the very interesting new business: underfunded chefs and aspiring restauranteurs without access to a kitchen of their own can pay reasonable prices to use top-of-the-line facilities by the hour to either practice their skills or cook up products to sell. The kitchen facilities include just about every basic appliance needed in a modern kitchen, and is kept very clean and in good repair.

This article has three areas of interest for me: for one, it’s a great way to save money and gain experience when starting out specifically in the restaurant industry. Secondly, it’s a great example of the expanded resources available to entrepreneurs afforded by the internet and new levels of creativity. Third, it’s an excellent example of a very unique idea for a business that creatively fulfills a market need while providing an excellent service.

As an entrepreneur myself, I can attest to the merits of services similar to this one. Last week I published a blog post about young entrepreneurs creating their own jobs just out of college, making do with low bank rolls by utilizing internet resources to save money. This is another example of a resource, and proof that it’s not only young entrepreneurs that are taking advantage of the new business world’s opportunities.

Here are a few options to consider while ruminating on entrepreneurial endeavors:

  1. Are there hourly resources for me to utilize like the kitchen-for-rent? Think about a potentially expensive necessity required by your business idea and find out if there’s a cheap way to outsource the investment by renting it or only using it hourly.
  2. Consider how long you’ll have to take advantage of these resources. Will it just be temporary while you build the capital to pay for your own? Or will it by the permanent business model? I, for example, rented an hourly distinguished mailing address and meeting space in Chicago when just starting out with Full Life before moving to our current office in Lincoln Park. You should consider how long this arrangement will last early on in the process.
  3. Calculate which arrangement will be more pragmatic. If you’re planning on keeping the enterprise up for such a long time that it would save you money to, for example, put together your own kitchen, then consider that option.
  4. Don’t be afraid to adapt your plans as events transpire. If business takes off more than expected, consider flexible rental agreements so you can be flexible in how you expand over time.

These types of creative resources have made starting a business easier than ever before, and those with business ideas should re-examine choices with these possibilities in mind.

What are your thoughts?

JS

Entepreneurial Solution to Job Shortages

If you’re like millions of new college graduates, you’re having a very hard time finding a job now that you’re out of school. Unemployment is high, and competition for the few open entry-level positions is fierce. Is there a better way?

This Sunday’s New York Times article “No Jobs? Young Graduates Make There Own” explores and often-overlooked option: entrepreneurialism. More and more college graduates are starting their own entrepreneurial projects and taking advantage of specific market niches. This is made possible by the internet, which has made starting a business cheaper than ever before.

Actually, I think this is a great idea for all people having trouble finding a more conventional job. As an entrepreneur myself, I can speak to how rewarding the undertaking is if it’s managed right. Here are some of my tips to potential entrepreneurs just getting their start:

  1. Plan on something simple with high demand for your products or services in the marketplace.
  2. If you don’t have an idea already, start brainstorming with what you know.
  3. Use a shoestring budget to make the most of your limited resources. Save money wherever you can.
  4. Take advantage of all shared or open resources afforded to you, including the Young Entrepreneurial Council started by the entrepreneur at the center of the NYT article.
  5. Do as much of the work needed by your company by yourself. Use open-source software and anything free to save money. The article mentions entrepreneurs teaching themselves HTML and using free online resources so that they could design their websites themselves without hiring a web designer.
  6. Set up a professional “front’ office by using a hourly office service. This is especially useful for startups, especially since they have hourly rates for conference rooms and phone answering services. Most major cities have services like this, including New York City and Chicago.

Though entrepreneurialism is always a risky enterprise, now is the time to take a shot if you’re young and serious about your idea. It’s a difficult way of life, but the best if you learn to love it.

What are your thoughts?

JS

Get It Going

Today I feel like talking about MOMENTUM.

In the blog series introduction I described momentum as:

MOMENTUM: What allows us to get unstuck? How can you become a person who sees what’s next and JUMPS into the opportunity with full force? We will discuss the Full Life Achilles® Plan which gives you a method to advance your goals in an organized, energized, and incremental fashion.

It is a pleasure for me to see a new coaching client who comes in determined to start planning and implementing the next phase of their career or life.

I think people turn to coaching when they have had it with feeling “stuck” in some aspect of career or life. “Hitting bottom” is when they are finally determined to move forward in their life. Bottom, however, is different for each person. One person’s bottom is not enough for another person to engage. Another common situation I see is when a client knows exactly what they want to do and they can’t seem to implement their next step goals (which I call their Achilles Plan). So we try to figure out what is blocking their pursuit of their vision. Together, we investigate what is holding them back. Is it fear of the unfamiliar or the new? Or just unexplainable inertia…? Sometimes they find it difficult to implement their vision of the career they deeply want; dating with the intention of a great relationship; or making a relationship a vibrant one instead of a mediocre one. One of my clients told me to add that sometimes there is resistance because one is not sure getting their goal is really going to make a big difference anyway. Pessimism she says needs to be managed as well, if it is a bad habit.

Once we make a hypothesis regarding why a client is blocked from reaching his or her next step, we use the Achilles plan to invigorate their goal implementation by:

1. Changing some environmental factor which gets them to go for new goals. For example, sometimes a 3-day vacation can inspire someone to move forward;

2. We break all goals down to smaller doable goals;

3. We simply wait for the client to go for the next step and encourage him or her to reach out for the goal they seek.

When I need more momentum in some area of work or life, I think about what is holding me back, and then make a plan to stimulate my pressing onward. It could be talking to a friend, a mentor, taking a course, reading a book, going for a bike ride, watching a great movie, working out, or putting something in place that encourages me to move forward. For example, an accountability step, like telling someone I know what I seek to do and asking them to follow-up with me and see if I did it. Another client mentioned that they find brief goal list left on the breakfast table and in the car are really helpful ways of staying focused on what you want.

OK…so take action right now in charging up your momentum with one of the tips discussed here.

How about you? In what ways do you create or maintain momentum that you can share below with others?

JS

Announcing the beginning of a fresh new version of Full Life’s Amplifier™ Blog!

From now on, you will see frequent interactive blogs focusing on 6 Key Themes:

1) Business
2) Balance
3) Momentum
4) Possibility
5) Habits
6) Love

The new edition of the Amplifier Blog will broadcast ideas about our lives, our careers, and the world around us. Together, we will reflect on how we can bring our own unique vision to life and then actually implement and achieve our goals.

We will “amplify” ideas so you can optimize your approach to living and then experience the joy of a fulfilled life. This is so you can gain a crystal clear picture of what you WANT which will then in turn “drive” your life design.

The 6 Full Life Blog Themes:

BUSINESS: We will focus on what success means to YOU and how you can further enhance your career or business performance. In this competitive time of economic challenges and downsizing, as an executive, entrepreneur, or student, you will learn tips to avoid burnout, become more resilient, and achieve HIGH-ENERGY goals. You will also get practical tips and strategies for igniting and planning the “next phase” of your business or career.

BALANCE: Living a full life is about balance, which means that you have to pay attention to all or most of the key areas of your life. Using Full Life’s Spheres of Life® Coaching, we apply a matrix of 11 key spheres and make sure you are making desired progress in each area, without letting one area become dominant at the expense of others.

MOMENTUM: What allows us to get unstuck? How can you become a person who sees what’s next and JUMPS into the opportunity with full force? We will discuss the Full Life Achilles® Plan which gives you a method to advance your goals in an organized, energized, and incremental fashion.

POSSIBILITY: You will examine your vision of what lies ahead so you can build your ideal future. Also, how can communities and nations harness innovation in relationships and in technology to build a safer and healthier world?

HABITS: How addictions and bad habits, such as excessive use of alcohol or drugs, procrastinating, hoarding, spending, disorganization, and anything that takes away our time and functioning – actually inhibits progress in one’s life and career. We will not only look at how to overcome bad habits, but we will also explore how we can create positive habits that support us and the people in our lives.

LOVE: Whether single, dating, or in a relationship, we will examine love and how intimacy can be heightened in our lives. What are ways we can magnify our satisfaction in whatever state of love we find ourselves?

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With the new Amplifier Blog experience, we hope that you will bring your perspectives into the conversation.

Your responses will be a crucial part of helping yourself and others learn and be more satisfied with life! Enjoy and as always we appreciate your interest and contributions.

JS

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