Startup Funding Espresso False Consensus Effect
False Consensus Effect Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The false consensus effect is defined by Wikipedia as the tendency for people to overestimate the degree to which other people agree with them. Founders sometimes overestimate how others may share their beliefs. They often mistake silence for consent in talking with investors. Investors often nod in acknowledgment of what the founder says but this doesn\u2019t mean they agree. To overcome the false consensus effect, do the following: Maintain awareness of the false consensus effect and realize not everyone has the same opinion as you. Consider various viewpoints and how others may approach it from a different angle. Consider how much your opinions come from your internal beliefs and personality rather than external factors such as the market and your environment. View your opinions as if you were an independent observer to see how the deal looks based solely on external factors. Break down your decision process into steps and verify the assumptions behind each one.\xa0\xa0 From this, you can determine how others may view your deal. Finally, this process can also apply to other persons considering your product. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .