Philosophies: The Entrepreneur's Dilemma
How do you operate as a confident visionary entrepreneur who imagines a game-changing product or service, while at the same time, retain the wisdom to pivot and change course if need be? The balancing of this confidence and wisdom is known as “the Entrepreneur’s Dilemma.”
How to manage the dilemma
Stay attached to the problem you’re trying to solve but be flexible in the solution to solve it. Your idea may be sound, but your method to achieve that idea could be flawed:
- You may be charging too much or too little for your product or service.
- You might be launching your idea as an online business when it should be offline.
- You might be trying to raise too much money when you only need half as much.
As long as you approach your startup with a clear problem to solve and are open-minded on how your business will solve it, then you will naturally find your way to making it a reality. Businesses are as much a living entity as you are, so allow it to breathe and grow accordingly as long as you never lose sight of the problem you want to solve.
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