Analysis Paralysis - The Investor Issue
What to have for dinner? Easy.
How to reach out to a potential investor? Maybe... not so easy.
It’s a fact of life that some decisions are easier to make than others. When it comes to making moves that will affect your business, every choice can seem momentous. This leads many company founders to experience what’s commonly referred to as analysis paralysis—a term to describe fatal indecisiveness.
Any careful person knows that all questions require a degree of research and consideration. However, someone struggling with analysis paralysis has gone above and beyond to examine the issue to the point of procrastination. This can be devastating for founders and their businesses; after all, opportunities are moving targets.
Feel stuck? Here’s what to do.
Set a Deadline
A majority of the choices a person makes are time-sensitive. In some cases, failing to make a decision is as harmful as making the wrong one. Try to set a personal deadline for the decision that still gives you enough time to take action. Use this time to explore your options, keeping in mind that the evaluation cannot be endless.
Focus on the Now
If you find yourself making excessive references to past experiences or future possibilities, it’s time to bring focus to the present. The past is behind you, and it may be of limited relevance to the choice at hand. Hypotheticals can also hinder the decision-making process. Focus on what you know today, and make a decision using that information.
Plan to Pivot
We can only make the best choice possible with what we know, and there’s always more to learn. Fortunately, most of the choices we make aren’t completely permanent. It’s more realistic to approach choices with a degree of flexibility, allowing room for adjustments as new information becomes available.
At Off-Piste, we help founders make these decisions by providing intelligent leads, streamlining their workflow, and offering insights on potential investors. Want to be first in line? Sign up for our waitlist.