Facing Facts

Facts can be cruel. They could pour cold water over an Entrepreneur’s vision and path to imagined success. Entrepreneurs, especially hard-headed ones without wise counsel, forge ahead regardless of reality.

One might not like the facts but can’t ignore them!

It would be unwise for Entrepreneurs to ignore facts. Facts present a true portrayal of the situation and not taking them into account in your action plans could be critical. Entrepreneurs sometimes have a vision fixed in their mind and if anything detracts from that scenario, they tend to discount it if not completely ignore it.

Use facts to bolster your plans. Facts rather than assumptions build a robust case for you . It is not wrong to make reasonable, calculated assumptions when facts are not available. If the available facts don’t fit your case, it would be devastating to ignore them and use your assumptions.

Use facts, and if they pose a challenge to your plans build in options to address such situations. That would a wiser course of action than ignoring the facts altogether.

Ravi Patel

http://www.patelCFOservices.com

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Published in: on July 11, 2017 at 4:17 am  Leave a Comment  
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Being Realistic

Entrepreneurs have a very positive outlook regarding new opportunities and ideas. They tend to look at things as a glass half-full as opposed to half-empty. This type of optimistic thinking leads to innovative businesses.

Is this always a good thing? It depends.

If the Entrepreneur has some basis in reality and/or surrounds him or her self with good advisors, there is a good probability that he or she will not venture deep into seeming opportunities that do not make sense or are far-fetched.

On the other hand, if the Entrepreneur is stubborn and relentless in the pursuit of an idea, despite repeated contrary advice, then chances of failure increase.

It is a wonderful quality for Entrepreneurs to have optimism, curiosity and a positive view of new ideas and opportunities, but a reality check is necessary for long-term success.

Ravi Patel

http://www.patelCFOservices.com

Reality Check

Entrepreneurs come up with new ideas to start businesses to make a difference. Their passion can be ignited only if they dream big.

However, Entrepreneurs should first see things as they currently are before visualizing what they could be.

Taking an assessment of the situation as it currently stands is critical before embarking on a dream. A reality check, often with advice of trusted confidants, helps to bring facts into the situation. Ignoring the current state of affairs and only imagining where you could be might pose a problem if not dealt with correctly.

It is not wrong to dream, but in order to achieve one’s Vision it is necessary to start from facts as they are now and then chart a realistic plan to get where you visualize your end point. Depending upon the current situation, the path might be easy, difficult or not possible at all. Ignoring the difficulty of the path is not rational.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Published in: on April 1, 2014 at 5:18 am  Leave a Comment  
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Making your Dreams a Reality

“Vision without execution is a daydream. Execution without vision is a nightmare” – Japanese Proverb.

Many people with good ideas keep on dreaming of making it big. But they don’t (or can’t) as they do not put their ideas into practice. Not executing your vision gets you nowhere except in your dreams.

Entrepreneurs can make their dreams into reality! How?

Taking on any major project begins by breaking it down into smaller tasks. (How do you eat an elephant? One bite at a time.) First, break down your project (dream) into smaller, discrete, meaningful segments.

Then establish measurable milestones with a realistic timeline – goals! Get your organization committed to these goals and monitor periodically progress towards achieving the established milestones. Disciplined activity towards achieving these goals will eventually lead to fulfilling your Vision.

If you put realistic and measurable milestones with timelines on your dreams, they could become goals for your success!

Ravi Patel

www.patelCFOservices.com