Smart Guy, Dumb Decision!
His business was going nowhere fast. In fact, it was spiraling downward at ever-increasing speed. But when I showed him proven systems and applied ideas that would turn his business around at no cost and at no risk, he refused! It made no sense. And it wasn’t the first time I had encountered this situation. Why do smart people make dumb business decisions? Why do they turn a blind eye to solutions that would be obvious to any objective observer?
Ever heard someone say, “I’ve been in this business five years and I’m not about to throw it all away!” when he’s on the road to bankruptcy? Why such an illogical choice? It’s not really that complicated. People in business are not necessarily entrepreneurs to begin with – they’re simply people who happen to own businesses. They know a lot about a little. And the choices they make are controlled by their conditioning, beliefs, fears and limited experience.
The biggest barrier to solid business decisions is emotions. Ego and the fear of failure, ridicule and loss make people do irrational things. We all avoid change and tend to get stuck in ruts. Our momentum propels us onward into financial difficulties. We would rather shoot the messenger than accept a solution that requires change. That’s why I seldom accept consulting work anymore – it’s just too frustrating. There is, however, a way to open our eyes, remove scatomas, and see the value in solutions. After all, we don’t have money problems; we have thinking problems.
Here are a few suggestions: get together with people who have no vested interest in your business and are therefore objective and unattached. Mix only with people who are successful, honest and generous. Meet regularly with your Mastermind Group or Joint Venture Group and listen to what they have to say. Read the latest information. Think of your business as a Monopoly game. Get your ego in check. Ask, “What if?” more often and don’t succumb to “role contamination” – thinking that you are your business, or confusing what you do with who you are. Release your business. Be prepared to walk away. Think LOGICALLY.
Ever heard someone say, “I’ve been in this business five years and I’m not about to throw it all away!” when he’s on the road to bankruptcy? Why such an illogical choice? It’s not really that complicated. People in business are not necessarily entrepreneurs to begin with – they’re simply people who happen to own businesses. They know a lot about a little. And the choices they make are controlled by their conditioning, beliefs, fears and limited experience.
The biggest barrier to solid business decisions is emotions. Ego and the fear of failure, ridicule and loss make people do irrational things. We all avoid change and tend to get stuck in ruts. Our momentum propels us onward into financial difficulties. We would rather shoot the messenger than accept a solution that requires change. That’s why I seldom accept consulting work anymore – it’s just too frustrating. There is, however, a way to open our eyes, remove scatomas, and see the value in solutions. After all, we don’t have money problems; we have thinking problems.
Here are a few suggestions: get together with people who have no vested interest in your business and are therefore objective and unattached. Mix only with people who are successful, honest and generous. Meet regularly with your Mastermind Group or Joint Venture Group and listen to what they have to say. Read the latest information. Think of your business as a Monopoly game. Get your ego in check. Ask, “What if?” more often and don’t succumb to “role contamination” – thinking that you are your business, or confusing what you do with who you are. Release your business. Be prepared to walk away. Think LOGICALLY.
posted by Robin J. Elliott at
7:01 PM
