11 The Business Bias Problem

11 The Business Bias Problem

There is not a single entrepreneur I can think of over the last 30 years who started a business that didn’t have a strong belief or bias regarding their product or service. Call it confidence, bravado or bias it is a necessary trait for success.
It becomes a problem and contributes to our failure when this bias distorts and bends the entrepreneurs perception of reality.
It is inevitable that this distortion will interfere with our ability to make sound, grounded decisions. The other dangerous thing that can occur is that we distort and shape our assumptions to fit our bias. The danger is heightened when this occurs just beneath our conscious awareness.

Entrepreneur Beware

Attachment can distort business decision making by causing entrepreneurs to hold on to one-sided and cherished beliefs, often stemming from their strong bias towards their product or service.
This attachment to their beliefs can prevent them from objectively evaluating and considering alternative perspectives or solutions.
As a result, entrepreneurs may become resistant to change and fail to adapt their strategies or make necessary adjustments based on new information or market conditions.
This can lead to a distorted perception of reality and hinder their ability to make sound and grounded decisions.
Being aware of this attachment and actively seeking diverse perspectives and feedback can help mitigate its negative impact on decision making.