FALL IN LIKE—NOT IN LOVE


I am all for entrepreneurs and would-be ones to be enthusiastic, compassionate, and believe in their new product, ideas, or company. However, these emotions and the actions they elicit need to be tempered by the reality of the situation. For many, it is hard to objectively evaluate their new venture. Their enthusiasm is often reinforced by the encouragement of their family and friends who find it difficult to voice an objective opinion, particularly if it is negative.

This all leads to the entrepreneur falling in love with their idea. The expression that “love is blind” can be very apropos in these instances. It paralyzes the rational part of your brain to operate and you can’t recognize the risks involved in your plans to execute your idea. It feeds your feeling of infallibility.

In order to prevent failure and its severe consequences, you need to test your idea thoroughly before you commit your hard earned resources in its implementation. Run it by experienced entrepreneurs and industry experts. Best of all, talk to potential customers or sellers of your product. Try testing in small doses, all to determine if there is a market for it and if your plan is the right one to capture a profitable share of it.

Most often, successful products and companies go through many plan changes in their journey.

Being in like and not in love makes it easier to recognize the course corrections required. Sometimes abandoning an idea based on the evidence is the most profitable decision you can make.

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