Although I am questioning in the context of your decision to pursue your calling in entrepreneurship, it is, I feel equally relevant for other decisions in your life. Restricting the scope here to professional life, I feel many would relate to quitting a job for another one, leaving a geography to a newer one and many such situations.
My dean at my B-school (Prof. Vijay Sethi) frequently used the phrase “paralysis by analysis” in this context. Thank you Professor! When you keep on analyzing endlessly, the justification for inaction grows stronger. Paralysis then applies to ideas, decisions & actions.
You would have experienced often when you are thrilled by an idea and start believing in its potential. However, the more you think and evaluate it across a laundry list of parameters, your mind starts weighing the cons more than the pros. And it is just a matter of time when “Why it should not be done?” wins the argument.
This post is not to offer any remedies against this disease. If you have been experiencing this phenomenon and happen to consciously realize it after reading these few lines, then my purpose of making a difference to at least one being is served.
Should one stop analyzing risks?
Answer is definitely NO. However, my point is to not let this risk analysis feed your fear of failure. I agree that risk analysis is an important activity when you execute a decision, more so in major decisions. Also there is no theoretical limit to this analysis. However, you need to introspect if this has become a habit that kills your most interesting ideas / decisions most of the times. Indeed the people who have moved forward are those who relinquished the fear of negative outcomes (with varying probability) and consciously chose to still attempt whole-heartedly. If you believe in it, then don’t over-analyze. Simply do it!
What do you think? Would welcome your feedback and comments.