Overestimating the Short Term Underestimating the Long Term

One of my favorite quotes comes from Bill Gates:

We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. (source)

Entrepreneurs are an optimistic bunch, as such they’re always overestimating what can be done in the short term. Just think of all the revenue forecasts showing hockey stick growth up and to the right. Only, it rarely happens.

Then, talk to any entrepreneur that’s built a successful company and they’ll always talk about how the amount of change and success exceeded their expectations. And, they did it in less than 10 years.

As an entrepreneur, the next time you’re feeling the grind, remember that we overestimate the short term and underestimate the long term. Stick with it.

What else? What are some more thoughts on overestimating the short term and underestimating the long term?

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