Comments on: Strategic Planning Workshops: Overconfidence examples http://strategicframing.com/2008/07/14/strategic-planning-workshops-overconfidence-examples/ Thriving in an Uncertain World Sun, 04 Jul 2010 21:31:35 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: admin http://strategicframing.com/2008/07/14/strategic-planning-workshops-overconfidence-examples/comment-page-1/#comment-18 admin Wed, 16 Jul 2008 13:18:40 +0000 http://strategicframing.com/2008/07/14/strategic-planning-workshops-overconfidence-examples/#comment-18 Matsonian, Overconfidence plays a significant role in entrepreneurial failure. Confidence in a vision needs to be grounded in good research and realistic apprasial of the market. The overconfidence cognitive bias is what causes entrepreneurs to ignore signs that they are not as prepared as they think they are. Overconfidence is what causes entrepreneurs to ignore making contingency plans in case their business launch does not go as planned. Overconfidence is what causes entrepreneurs to discount negative feedback as "uninformed" or write it off as not important. The business planning software you are offering is actually a great way to keep entrepreneurs honest about these things and keep their confidence from turning into overconfidence. Good Luck with your business. John Matsonian,

Overconfidence plays a significant role in entrepreneurial failure. Confidence in a vision needs to be grounded in good research and realistic apprasial of the market. The overconfidence cognitive bias is what causes entrepreneurs to ignore signs that they are not as prepared as they think they are. Overconfidence is what causes entrepreneurs to ignore making contingency plans in case their business launch does not go as planned. Overconfidence is what causes entrepreneurs to discount negative feedback as “uninformed” or write it off as not important.

The business planning software you are offering is actually a great way to keep entrepreneurs honest about these things and keep their confidence from turning into overconfidence.

Good Luck with your business.

John

]]> By: matsonian http://strategicframing.com/2008/07/14/strategic-planning-workshops-overconfidence-examples/comment-page-1/#comment-16 matsonian Tue, 15 Jul 2008 02:02:33 +0000 http://strategicframing.com/2008/07/14/strategic-planning-workshops-overconfidence-examples/#comment-16 What is the fine line between confidence and OVER confidence? Young entrepreneurs must have the strength of belief and the incredible confidence to follow their dreams. By others this may be viewed as OVER confidence, but, by the fellow creative entrepreneur it is viewed as PASSION for you idea or product. When we developed QuickPlanner Plus, it was designed to help the creative entrepreneur harness that passion and focus it towards a workable plan for success. Our goal is not to bring the entrepreneur down to reality, but to help the entrepreneur to create a plan to reach the stars. What is the fine line between confidence and OVER confidence? Young entrepreneurs must have the strength of belief and the incredible confidence to follow their dreams. By others this may be viewed as OVER confidence, but, by the fellow creative entrepreneur it is viewed as PASSION for you idea or product. When we developed QuickPlanner Plus, it was designed to help the creative entrepreneur harness that passion and focus it towards a workable plan for success. Our goal is not to bring the entrepreneur down to reality, but to help the entrepreneur to create a plan to reach the stars.

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