Link #1 for Discussion for 10-10-11 to 10-17-11

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Link #1 for Discussion for 10-10-11 to 10-17-11

Post  Admin on Mon Oct 10, 2011 4:01 pm

The article below is our first topic for discussion for this week. Please read it and then post at least one thoughful comment. Feel free to make your comment in the form of a response to someone else's comment. I would like for this to be a discussion, rather than a list of independent comments.

Don't Let Personal Biases Sabotage Your Startup

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Dont Let Personal Biases Sabotage your Startup

Post  Ephraim.Nickerson on Tue Oct 11, 2011 12:29 am

These five biases stated in the article are very critical to an entreprenuers passionate idea for a business. They can really schatter ones startup for a successful business. I believe an entreprenuer should evaluate his passion for that particular idea and persue it effectively. The amount of work and time put into the project will tell if its meant to be successful.

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Re: Link #1 for Discussion for 10-10-11 to 10-17-11

Post  mkindy on Tue Oct 18, 2011 2:26 am

I think this is very true. I have to take some exception to #1, especially for people who have not yet started a business. I think the likelihood of rejection bias is actually much higher. That is, people are going to more easily find patterns that don't support the idea that something is viable -- a projection of trepidation, perhaps -- as a built in mechanism that prevents people from taking risks. I also feel that anchoring is probably a very large phenomenon. I can imagine inventors or designers of a new product not wanting to give up small portions of their ideas in order to make it more marketable instead of eclectic.

Basically this all appears to boil down to "Use common sense. If something seems to be too obviously pointing in a positive direction, STOP and evaluate."

[Matthew Kindy]

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Re: Link #1 for Discussion for 10-10-11 to 10-17-11

Post  anacoello100 on Tue Oct 18, 2011 9:19 am

"In my experience, a great startup is more about great execution, rather than a great idea. It’s about converting your passion into economic value"
I do agree with the author of this article about startup being more about execution. It reminds me about something I heard a while ago: "A good idea executed is best than a super idea never brought to fruition".
Also the "5 keys" are so true.
1. Our own beliefs can be our worsts enemies, pre conceive ideas form culture, traditions can be tragic.
2. I believe a responsible entrepreneur most search all information related with its business. Find advisor that can help him/her to make a decision, etc.
3. To find a balance of trust and confidence in any business requires experience and dedication. We cannot trust everyone, but we need to trust someone. . . We need others and when others come into our world there is not such a thing call control.
4. And never take decisions base on felling. Feelings are constantly changing, but facts and past experiences stay.
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Don’t Let Personal Biases Sabotage Your Startup

Post  faby on Tue Oct 25, 2011 2:31 am

I think We all have biases in our life. Some of this biases can be positive or negative. Everything in life is about balance and and knowing how to control our emotions. If We look beyond our-self without falling victims of or passion traps, and we find the valance of our emotions. It can lead us to become great entrepreneurs.

I like the way the author expresses himself, and how he try to explain his point of view, about how biases can affect our start up.

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Re: Link #1 for Discussion for 10-10-11 to 10-17-11

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