Startup Funding Espresso -- Projection Bias
Projection Bias Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The projection bias is defined by Wikipedia as the tendency to overestimate how much our future selves share one's current preferences, thoughts, and values, thus leading to suboptimal choices Founders who hire team members in the early stage come to realize that different skills will be required later in the life of the startup. To overcome projection bias, consider the following: In making decisions with long-term implications, maintain awareness of the projection bias. On a regular basis make future projections to consider what will be needed in contrast to what is needed today. Experienced founders often jump to their own conclusions based on their experiences.\xa0 It\u2019s best to engage others in the decision-making process. Some founders project their views on a situation and assume others believe the same. It\u2019s best to keep an open mind and allow for other points of view in the decision-making process. Over time priorities and values shift so it\u2019s helpful to remember that today\u2019s values may be different tomorrow. \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 .