A Step Back is Not Failure
I recently met a friend for drinks. Honestly, I was surprised by the invitation. We are not generally the “grab drinks” kind of friends. I am an introvert and eschew large gatherings and find comfort in the quiet that comes after a long day. So, when the invitation came, I recognized that if he was asking to meet it was not because everything was going well. My friends know what I do professionally and understand that I am ready, willing, and able to support them. In the end, he needed my expertise as a coach. We are friends but he did not need a friend.
We met at one of the many local breweries in our area and found a quiet corner. Following the usual pleasantries and questions about families, kids, etc., he began telling me about some challenges he was having. He spent a good portion of 2023 writing a book and was concerned that he had lost out on opportunities and spent too much to bring the book to market. I could understand where he was coming from. I launched my first book a week before the pandemic hit. I was dejected and questioning whether I had made a mistake. I offered him a few perspectives that might be helpful.
Is it a Cost or Investment?
We often look at an outlay of cash or expenditure of effort as a cost. It looks and feels that way. I asked if there was another way to view his “costs.” A cost, particularly a sunk cost, seems unproductive. It does not generate a benefit. When considered an investment, those costs are expected to move us toward our goal. He didn’t write the book for book sales. It was to bolster his presence and credibility. In that context, he could already see the dividends on the investment.
Opportunities Lost
We feel that sense of regret or dread when we can’t seize an exciting opportunity. It feels awful no matter the size and nature of your organization. His book effort was in the service of expanding his business and bringing new services to his existing and potential clients. His lament about flat growth last year did not account for the anticipated growth in the year(s) to come.
We often tie ourselves in knots over a setback or slowing growth or missed opportunities. This is true for professionals in organizations as it is for business owners. Our mindsets, perspectives, and points of view easily get clouded to the point of despair. By taking a step back to reevaluate, we reward ourselves with the chance to ask the important questions and get back to the original intent. Stepping back and removing yourself from the immediate sense of frustration is in no way a sign of failure. There is a fallacy that growth should be constant and upward. We need valleys and plateaus to appreciate the sweet satisfaction of reaching the summit.
Michael Riegel
MRiegel@AECBusinessStrategies.com https://michaelriegel.substack.com/
516-238-0859