The Achilles Heel of a Serial Entrepreneur

Posted by Admin


In a previous blog post, I explained how having too many ideas and can cripple your business. Ideas are easy to come by. As a serial entrepreneur, you are probably getting these ideas by reading and researching. Every time you read a book or blog post, you start getting flashes in your mind. “This will be the next big thing….” And then you are off to read the next book and you get more and more flashes. The problem with is this will not get you anywhere, you think you are learning but if you don’t take action and start working on making the ideas work for you, you will never make progress and all you end up with are piles of notes taken and with undone TODOs.

Reading books, buying How-To courses will not pay the bills, all they would do is generate more and more ways to do stuff and overwhelming you in the process. What will help you have a profitable business is when you take those notes you have written down and start executing them.

Paralysis by Analysis

I got an email in my inbox today, a newletter issue to be precise and the author made a reference to a statement. Paralysis by analysis. That struck a chord with me. I am one that tends to read a lot or listen to podcasts, I get an idea and I start analysing the opportunities and do more searches to find out how to implement it and of course, the internet is such a good resource that there are a million and one ways to do one thing. 6 hours later, I am overwhelmed and have no energy left to think about executing the idea. So now I am off to read more books or blog posts and the cycle starts all over again.

Start taking action to break the cycle

A couple of months ago, I decided to stop and and start taking action. I set up this blog and started posting my ideas and it is a joy to see people leave a comment to something I have written. I wrote a guest post on Blogging teacher last week about offering software products and I am putting my money where my mouth is. I already have an idea of a wordpress plugin that will be my first product which I will launch off of this blog and I hope this will be the first of many projects that will not be left in the cemetery of unexecuted ideas.

Go on a diet

Just like going on a diet to lose weight, you should also go on an infomation diet to overcome inaction. Stop reading blog posts all day and start implementing the ideas that you have, develop a minimum viable product and build a business. You will thank yourself for doing that later.