Entrepreneurs are the most optimistic people on the planet.  If you look at the odds of succeeding in business, it makes sense that anyone who wants to start a business is naively optimistic.  As empowering as this optimism may be, it can also set a growing business up for failure.  Longshot deals that have a 1% chance of going through are “Done!” in most entrepreneurs’ minds.  If a startup gets a tiny nibble from a Fortune 500 company, for example, the founders might decide to redirect all of their resources to focus on closing that deal.  But if they don’t have a backup plan when the deal inevitably falls through, they’re up the creek without a paddle.

Everyone from investors, to strategic partners, to potential customers will play footsie with you, only to leave you stranded in the eleventh hour.  Be skeptical and expect the worst – 99% of potential deals will fall through.  And the bigger the deal, the more skeptical you should be.  Stay focused on the fundamentals and keep executing.  Then, if a deal actually closes, you can think of it as a bonus!

Matt Sand

Author Matt Sand

Passionate about making a difference through innovation and entrepreneurship.

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