Archive

Archive for February, 2012

Cognitive dissonance in business – "Killer Idea" or "Idea Killer"?

February 21, 2012 Leave a comment

Mistakes Were Made (But Not by Me): Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts

Cognitive Dissonance is a term used to describe that feeling of discomfort when you have conflicting beliefs.

Examples of cognitive dissonance:  when you wants to start a business.

a. You give up your day job and commit to your idea wholeheartedly. Why? Maybe you believe in the opportunity and you are willing to accept the delayed reward (equity and/or freedom). Once you make that decision, you will continue to justify that decision and accept the discomfort/challenges of a start-up. The “break-through” is just around the corner…You select certain facts and data to rationalize that decision. The truth is, you have no idea whether it will succeed or not. There are just too many variables. More business fail than succeed and new ones are started each day.

b. On the other hand, you may decide not to leave your job to start that business. Your decision to keep the status quo might be perceived as a “safe” one. Once that decision is made, you will start justifying it as well. In fact each time you get a paycheck, that decision is reinforced. You see statistics that show well over half of start-ups fail in the first year. The reality is, that may or may not be the case for you. Companies do go out of business, they have salary cuts, lay-offs, mergers/acquisitions, and have positions replaced (by younger employees/outsourced/off-shored) etc.

We’ve all met that guy who never started any business but boy, does he have a ton of ideas…many that have become successfully launched by other companies <insert the eye roll here>.

In order to resolve that conflict, you need to make a decision. That will largely eliminated that discomfort and you can start justifying the decision with data, experiences, and circumstances. The key is what will gets your emotions to that “tipping point”. It might be experience, know-how, money, or overcoming certain fears. You can either find ways to remove those obstacles or you can use those obstacles to justify your decision or lack thereof.

So, DECIDE already! (insert smiley here). There’s an Aesop fable about “Sour Grapes”…to help avoid/deal with cognitive dissonance. So if you have that killer idea but never had the guts to take the leap, you can tell yourself most companies (about 94%) never make it past 10 years. Or you can take that dreaded leap and find out who can help you develop a plan, work the plan, be flexible, persistent, work hard, stay positive, and take the chance…of succeeding.

*Some resources.

ps: The book really didn’t have anything to do with business, startups etc. It is about the decisions we make (emotionally) and our justification…and as someone who enjoys working with start-ups and have had a few start-ups of my one, it was an interesting topic.

Advertisements
Categories: Uncategorized

How does an idea get adopted by the masses?

February 16, 2012 Leave a comment

The Tipping Point: How Little Things Can Make a Big Difference

The book “The Tipping Point” talks about ideas and products spreading like viruses in an epidemic. Malcom Gladwell talks about the “connector” and the “Maven”.

The Maven are those that know extensively about a certain subject matter. In consulting, they are called subject matter experts (SME, not to be confused with “small-medium enterprises”).  They are the go to guy if you need to know about a certain subject. The connector on the other hand are those that are looked on as hubs…they make friends quickly and know a lot of people.  These two types of people can help make an idea “sticky”…eventually getting to that tipping point.

Well, when I read that book a few years ago, I found that fascinating and started looking around for things that initially may be just an idea (good or bad) and then evolve to the point where they become adopted by the masses.

So…when and how did words like “Worchester” in Massachusetts gets pronounced like “Wooster”. That really threw me off when I was on the train passing through that town.

Recently I had a conversation with Jim Flowers of VT KnowledgeWorks. and we spoke about the pronunciation of a town in Southwest Virginia called “Buchanan”. I have always pronounced it “Bue-kanan” (like the president) but the locals at Buchanan corrected me can says it is “Buck-Kanan”.  Now there is also a town in West Virginia not too far away pronounced that way and spelled “Buckhannon”. Could there be a relationship there?

How about this one…Featheringstonehaugh? Jim says it is pronounced “FannShaw”!

The question is when did they get pronounced that way? Who started it? How many people did it take to accept the new way of pronunciation?

So think about this for your ideas and business. Are there influencers and mavens in your industry you need to connect with to create stickiness?

Categories: Uncategorized