As an entrepreneur you will make countless decisions on a daily basis. Some will be small, some big. The net balance of making the right decisions will ultimately determine the success of your venture. So, how do you know if the decisions you make are the right ones? The answer to this lies in the …
It is often thought that the ability to compromise is an essential trait of the successful entrepreneur. Entrepreneurs are often asked to compromise in negotiations when buying or selling, working with others, developing a product or service and countless other situations. Compromising sounds reasonable; but is it? First, let’s be clear about the definition of …
The statement “I am sometimes wrong, but never in doubt” may seem comical, but actually has some validity. It is reasonable to doubt that which you are uncertain of, but unreasonable to doubt that which you are certain of. Skepticism can cripple an entrepreneur’s decision making with doubt. It is not uncommon to hear people …
Decision making is not all long term but a daily if not hourly or minute by minute activity of every entrepreneur. How successfully you make these decisions is equally important as they accumulate toward achieving long term success. Consider the following mental exercise. If I ask you what is 2×2 you would intuitively answer 4. …
Being pragmatic is commonly viewed as a positive attribute for an entrepreneur to possess. This is because being pragmatic is generally defined as being practical, rational and fact based. Decisions and actions based on facts and reason underpin all of Objectivist thinking. By this definition these are good attributes for an entrepreneur to practice. However, …