A refreshing reminder to share for founding entrepreneurs, and one that is far to common of a twin trait among why many startups fail.
Perhaps its more of a virus than a trait, but the truth in Kahneman’s short video is a message to startups and any small business.
He describes how a blurred vision blocks out key warnings from who matters most – your customer, peers, and employees. It’s a direct result of delusional optimism where the founders idea or product is considered the next best thing or a must-have.
Does the idea or product solve a meaningful problem, is enough scale or an audience to will depart with their $$$, are you chasing the startup dream and neglecting the fundamentals of a business?
Kahneman video on Making Smarter Decisions based on his bestselling book Thinking, Fast and Slow, touches on how people, or entrepreneurs in this case, should overcome the cognitive biases and errors that can affect decisions that can sink or catapult a business.