Archive for the ‘dan ariely’ Category
Keeping options open
An update to my post about focusing your business on a niche product or service – why is this so hard? One explanation is that all of us like to keep our options open. But, even when it may ultimately hurt us? Yes, according to Dan Ariely (a behavioral economist at MIT).
Take a look at this short video:
Many of us can relate to the dating analogy. But that’s not the case in our business ventures, right? Wrong. I’ve met several entrepreneurs who have a million “game-changing” business ideas in their head. That, in of itself, is not really an issue (it’s simply brainstorming). The problem is when they try to pursue many of these ideas. Similar to the dating analogy – the idea you like the best will eventually wither due to lack of attention.
In a future post, I’ll talk about how I’m deciding which of my ideas to pursue. And I can tell you – it IS NOT easy!
