Change Is the Only Constant
Over 2,500 years ago, the Greek philosopher Heraclitus wrote that change is the only constant in life. It’s even more true in today’s startup world.
Cherry Picking
It’s always cherry picking time at “Newco.” Confirmation bias is a cognitive weakness frequently observed in startups, where conditions foster its spread.
Anchors Aweigh
Anchoring behavior is the reliance on old data in the face of new, contradictory information. It is a cognitive bias frequently observed in startups.
Corporations Are People Too
Corporations are people too, especially in their obituaries. People don’t “die” and companies don’t “fail.” We have more acceptable terms to describe their . . . . passing.
Sunk Cost Fallacy
The sunk cost fallacy, chasing bad money with good, is a frequently seen entrepreneurial behavior. It can be avoided, if one can step back and properly evaluate the opportunity.
