Managing expectations shouldn't require you to change the company to meet investor expectations.

However, you may need to refine your messages.

If an investor is not pleased with the progress your company is making, perhaps their investment style doesn't match your investment characteristics.

You may need to refine your shareholder mix.

If dedicating 40 percent or more of your time to the financial community is not producing the desired results, more of the same will only increase your frustration rather than increase the valuation of your stock.

Perhaps you aren't allocating your time appropriately.

While working for an international manufacturing company, we traveled to Europe annually for a non-deal road show. We cancelled our trip one year on the advice of the State Department due to the perceived threat of Moammar Kadafi. Our European institutional investors disagreed with our decision and claimed to have lost respect for the management team and interest in the company as an investment.

The public criticism bruised our ego, but most of our relationships were resolved as we returned to Europe to visit with investors once the State Department determined it was safe for executives to travel abroad.

Lesson: Even the right decisions that serve the best interest of the greatest number of shareholders can be criticized.

A company can achieve broad and instant exposure; however, credibility and integrity are earned over longer periods of time by doing what you say you are going to do.

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