As I mentioned in my previous post. Stanford has an incredible podcast series that they call the Entrepreneurial Thought Leaders series. It's a series of guest lectures by an all-star cast that only a school like Stanford could put together.
It's well worth the time spent. Learn from the best, for free.
Sunday, August 5, 2007
Making choices based on fear
A trusted business adviser mentioned something interesting. So many people make life decisions out of fear. Fear of the unknown and fear of losing what they have (even if it's only mediocre). It would be interesting to see what would happen if people started making decisions based on what they want instead of simply avoiding what they don't want.
I heard a twist on this from Stanford's entrepreneurial thought leaders podcast series. A venture capitalist was quoted as saying, that the single strongest determinant of success in new businesses is not the quality of the idea. It's the faith, and persistence of the entrepreneur. In fact he said "I'd rather fund an OK idea that the entrepreneur truly is sold on, than a great idea proposed with partial belief of the entrepreneur."
The reasoning was simple. Even great ideas will hit major road blocks and the persistence and belief of the entrepreneur is what determines how that road block is handled... and often the survival of the business.
I would imagine that one of the main differences that separates entrepreneurs
from the masses. Making decisions based on what they want instead of fear is what gives them the strength and persistence necessary to push through the challenges.
I heard a twist on this from Stanford's entrepreneurial thought leaders podcast series. A venture capitalist was quoted as saying, that the single strongest determinant of success in new businesses is not the quality of the idea. It's the faith, and persistence of the entrepreneur. In fact he said "I'd rather fund an OK idea that the entrepreneur truly is sold on, than a great idea proposed with partial belief of the entrepreneur."
The reasoning was simple. Even great ideas will hit major road blocks and the persistence and belief of the entrepreneur is what determines how that road block is handled... and often the survival of the business.
I would imagine that one of the main differences that separates entrepreneurs
from the masses. Making decisions based on what they want instead of fear is what gives them the strength and persistence necessary to push through the challenges.
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