Ostrich Effect

The ostrich effect is defined by Wikipedia as ignoring an obvious negative situation.

It’s common among founders to ignore the challenging parts of the startup such as competitive position or weakness of the product, and more.

Some founders handle it by not paying attention to it.

Others misinterpret the situation as something else so they don’t have to deal with it.

Founders do this to avoid the difficult emotional effects of the situation.

To overcome the ostrich effect, consider the following:

Treat the situation as if someone else has this problem and you are analyzing it from the outside.

This takes your personal emotions out of it and gives you more freedom to explore solutions.

Take the situation and engage others to help you and hold you accountable.

Finally, set up a program that reviews the situation on a regular basis so you can work on it consistently over a period of time.

This lets you break down the problem and start solving it one piece at a time. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

---

Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact info@tencapital.group   

Please follow, share, and leave a review.

Music courtesy of Bensound.

Copyright (c) 2024, Hall Martin and investorconnect.org. All rights reserved.

Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.