I'm a first year grad student, at the end of my first semester working with my advisor on a project, and I'm still not near my first publication. I followed leads, got stuck places - still not where I should be in terms of results. I've let it depress me somewhat, and I admit I could have been more persistent. My advisor has made it clear now that he's very dissatisfied with my progress (and how I work and think), and that he's going to cut off my funding by the end of this next semester if I don't get a good result by then. He's up for tenure himself later in the year, so he's an aggressive researcher (part of why I chose to work with him, because I wanted an advisor who emphasized research productivity).
I am trying to focus more, although my stress levels are hindering it somewhat. The problem is, my advisor is very senior in the department and if he washes his hands off me, it's quite probable other professors wouldn't give me a chance. Especially since there is a fair deal of truth to his assertions that I could have done much better in terms of managing my priorities and keeping my project progressing. I'm a first year grad student by the way. At what point should I think of searching other advisors? How much should I realistically fear having to drop out because of lack of funding?
Edit: I'll clarify, I am indeed trying to be constructive and work much harder and focus in on whatever results I can. I don't know if the situation is still salvageable at this point though, in terms of my advisor-student relationship.
