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How New Ideas Can Destroy Companies

Leaders of companies can often be tempted to jump the gun on a new project without properly considering all the factors involved or communicating with everyone who will be required to pull it off. And the results can be disastrous. In this episode, Dan Sullivan and Shannon Waller discuss all the aspects an entrepreneur needs to consider and communicate when it comes to a new project.

Here’s some of what you’ll learn in this episode:

  • What factors about a situation a leader needs to explain to their team.
  • Why you definitely don’t want to start work on achieving certain goals in the wrong way.
  • The reason you don’t want to include others on certain ideas yet.
  • How entrepreneurs sometimes jump the gun on a project.
  • How entrepreneurs can almost destroy their companies by starting work on something they’re excited about.

Show Notes: 

  • Known and unknown: In every situation, there are things you know and things that aren’t yet certain.
  • Persistent thoughts: Possibilities are things we keep coming back to in our mind but haven’t communicated to anyone or taken action on yet.
  • Emotional aspect: When possibilities in our brains are important, they have a profound emotional aspect to them.
  • Not thought yet: Until you’ve completely thought an idea through, you won’t be ready to communicate it to other people.
  • Not prepared: Sometimes entrepreneurs decide to go ahead with a project without preparing for other people to bring their experience in.
  • Time and resources: Leaders need to be able to explain why time and resources can be taken up for a project.
  • Defining skill: In some situations, an entrepreneur’s relevant skill is to define a project as a goal for other people.
  • A clear vision: All success in the world happens where there’s a clear vision of how things can grow.