How many Businesses fail because their BUT is too big?
May 19, 2014 | Posted by etc | comments (0)
This week’s Imagination Hat:
Perhaps we can’t learn everything about business from Lady Gaga. But we can learn about fearlessness. If you even own a lobster hat, we can conclude you fearless. Just this morning I visited with a local Entrepreneur with an extremely good product that is struggling in business. They are busy, but just can’t grow. Unfortunately, they do not advertise. I asked her some questions and made some suggestions about some easy things to try. “It wouldn’t work, because. . . . ,” she replied, and went on to tell me about how her budget pales in comparison to her competitors advertising budgets, and therefore concluded they would not be able to make a dent. No matter what I suggested, her answers to every question were, “we tried that and it didn’t work”, or “it would never work because”, or “we could. . . .but . . .”. But what? I wonder how many businesses have failed because their but is too big??
I came away wondering if I have ever sounded like that? Entrepreneurs can be too afraid. Fear is a potentially malignant in businesses.
If you are an entrepreneur struggling with risk aversion, practice taking small risks that do not matter. Try something you have never ever eaten in your entire life for lunch today. You might say, “I am at the absolute bottom, and I don’t have anything in business I can risk”. Great! What better time to risk than when you have nothing to lose!
That is this week’s Imagination Hat!