Having The Guts To Tell People Their Business Is A Bad Idea

June 20th, 2013 by

I often watch shows such as business ones where various people are judged by wealthy people on whether or not they feel the person has a viable business to succeed or invest into. This usually results in a panel of people too where there is usually at least one guy that tells it bluntly with no remorse if he/she feels the person has a horrible idea and will fail. As a viewer most people would usually criticize this person for being so mean spirited for example which I guess is what the show wants for entertainment.

Today though I was thinking how so many times we as a friends or family members simply wouldn’t say that to our close ones and instead will cheer on their business even if we are pretty sure that it may not be the best idea for them to pursue. Usually in those cases it is too late as many would go all in even if it means mortgaging their home to get the appropriate funding.

It’s such a tricky situation from my point of view because as the entrepreneur you can easily say that people are simply naysayers as there are thousands of examples where people received no support or positivity from the people they knew only to end up following through with their idea and becoming extremely successful.

I personally think the notion of your friends and family members can be too bias in these situations are true and so solution wise maybe the best thing is to find someone who has no real relationship with either party. Basically using a third party in general. If you can’t say it directly to them then simply approving something for fear that it will damage the relationship isn’t exactly helping them.

For myself I am usually not that blunt. I usually try to explicitly say that it is my opinion only if I feel something is a really bad and that the person should try to get as many opinions and feedback as possible. I personally think that helps to prevent the idea to the person that you are simply pessimistic about their idea in general which usually puts people in a defensive mode. Instead, it is more of a critique or a free focus group per se for them. Just some small adjustments to the way you communicate your message can make a big difference. At the end of the day people need to know if others think something is bad and understanding why to make the best decisions.

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