The wish is father to the thought (Startup founder)

 The wish is father to the thought ( Startup  founder)

Cover Image of  The wish is father to the thought (Startup founder)
Cover Image of  The wish is father to the thought (Startup founder) 

Entrepreneurs are optimist, positive thinker sees the invisible, feels the intangible, and achieves the impossible

In general, entrepreneurs overestimate their chances of success. For most startup entrepreneurs, the idea of wishful thinking is not likely to be a stranger. Optimism creates and improves, they say, whereas wishful thinking wastes and destroys. Overconfidence makes the gap between the present and future seem possible to bridge.

So much of the pain in entrepreneurship, over time, is caused because of founders being delusional & due distance from the truth.

1/ Cognitive Bias: Blindsided by the knowledge that the founders can’t see the world through the eyes of someone who doesn’t have that knowledge.

2/ Information Gap: Taking product decisions based on feelings and emotions, rather than on tested ideas, complete information, and data.

3/ Disproportionately Value Effort: Overestimating the value and importance of the idea, product, anecdotal success & efforts into building the startup.

4/ F&F Opinions: Founders often run their new ideas by their friends & family for feedback. That is a terrible mistake. Anything pitched to them will not be judged objectively. They will not give honest opinions.

5/ Survey Research Lies: People provide socially desirable answers or try to Increase their self-worth by exaggerating or inflating responses.

What entrepreneurs don't know is less likely to hurt them than what they believe to be true that isn't.

Wishful thinking:

Entrepreneurs sometimes come to believe something that they wish were true. There's a fine line between being the captain of your destiny, and the prisoner of your own wishful thinking.

On the positive side of wishful thinking is that the goals are not binary; they aren’t all or nothing, so even if entrepreneurs miss the original goal, they may still accomplish a lot.

Post a Comment

Previous Post Next Post