Peter posted this on January 8, 2021
One common reaction I’ve had to my past blog posts especially the one on the Fuego closure and a couple of others has been one of why did you shut it down? Why didn’t you keep it open?
I’ve noticed this thought pattern a lot in Business as well as life decisions for a lot of people.
You start a Business or are in a relationship, you know it’s not what you want, you can’t see a clear path to make it into what you want, you know if you let go, you have a really high probability of getting what you want, but you stay put.
You have this unhealthy fear of what people would say (hint: doesn’t matter a bit),
You have this erroneous belief that you must stick to the first thing you tried till death (even if practical experience determines your theories were wrong)
or you’re a prisoner of the Sunk cost fallacy – wondering what would happen to all the money, time, effort and other resources if you leave (pouring more water in a basket still won’t fill it).
While I’m good at sticking to what I like & know has great growth potential (I’ve had my Hosting Company from Day 1 till date & it’s going nowhere), I’ve also learnt not to be emotional about business (I still am about relationships though),
It’s perfectly okay to leave even a working Business for something you know can be better (no risk, no rewards right?).
Elon Musk yesterday was the Worlds Richest Man with a net worth of $195bn – I know it’s Air money but still….
What a lot of us don’t know was he previously founded Zip 2 which he received $22m from the sale of in 1999 and Paypal (we all know that) which he received $165m from – compare that to $195bn.
He went into renewables and space but as at 2017 he was almost Bankrupt & I’m sure a lot of “experts” would have had a field day analyzing how stupid his decisions had been but then he took the risk and he’s at a far better place than Paypal is!
We don’t have too long to stay on the earth.
Let’s leave a mark as big as we can while we can even if it means leaving the good for the better & the better for the best.
Nothing grows in the comfort zone.