Entrepreneurs don’t fail because their business-plan arithmetic is wrong. They don’t fail because they try to sell a product that no one wants to buy. They fail for the same reason speaker Mark Chussil, expert in competitive strategy, failed in one of the businesses he launched: because it takes sober effort to think strategically, and entrepreneurs are not sober. They are giddy with the capitalist dream; they believe they can make it happen.
That sounds like garden-variety overconfidence. The bad news: it’s worse than that. The good news: you can do better. The great news: it’s free, and it doesn’t hurt.
How due diligence, great expectations, and “just do it” enthusiasm can lead you astray.
How anticipating failure helps you avoid failure.
What research tells us about the wisdom of crowds (popular strategies) versus the genius of loners (disruption).
How professional managers (MBAs like Chussil) can ruin a good thing.