The One Bad Trait To Have When Opening Your Own Business

October 4, 2018

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Finally, a good reason to be pessimistic, if there is one! New research shows itpays to be pessimistic, at least for entrepreneurs. Nearly half of all new businesses collapse within their first five years. The study reviewed 18 years of data and found that optimists tend to overestimate their chances of doing well and underestimate their probability of failure. Optimists are more likely than most to mistakenly think they have found a good business opportunity and that they have what it takes to exploit it successfully. Considering about 80% of the population has a consistently and overly optimistic outlook, it could explain why being a pessimist, at least in business, could be the difference in success and failure. The report found that realists and pessimists are less likely to move forward with unpromising entrepreneurial ventures. While generally frowned upon in society, pessimism actually is a beneficial outlook when it comes to keeping your own business alive after five years!

SOURCE: EurekAlert

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