Entrepreneurs Are Getting Good at Making Horrible Decisions

5 bad decisions entrepreneurs make — Here’s how to thwart them.

Published in

Agency Accelerator

8 min readSep 22, 2023

The heading is not a typo, and it’s not clickbait either. Entrepreneurs are truly mastering the art of making poor decisions.

Don’t believe me? Keep reading.

In this no-holds-barred article, I’ll lay down some hard truths and point out common decision-making pitfalls that many entrepreneurs fall into.

Sound a bit too direct? Well, it’s about time someone said it.

#1. Not Being Okay with Lacking Answers.

A Harvard Business Review study revealed that leaders who show vulnerability are considered more trustworthy by their teams.

Yes, vulnerability — something we often mistake for weakness, especially in the cutthroat world of entrepreneurship.

We feel an incessant need to have all the answers. Anything less feels like failure. But let’s dissect this for a moment.

Jim Collins, author of Good to Great, said,

“The best leaders are those who don’t have all the answers but know how to find them.”

Don’t get it twisted; not knowing something isn’t a handicap. It’s an opportunity — an opportunity for growth, both personal and professional.

Nobody knows everything, but the best leaders know how to tap into collective wisdom.

Ever been in a meeting where someone asks a question and there’s an awkward silence because everyone expects you to have the answer? You’re not alone. It’s a universal feeling.

And what do you usually do? Probably, come up with some response on the spot, worried that any sign of uncertainty might make you appear less competent. That, my friends, is the trap.

It’s this insidious idea that an entrepreneur must be a know-it-all.

So, what should you do when you don’t have the answer?

Be honest. Say, “I don’t know, but I’ll find out.”

You’d be surprised at the respect and trust this simple act of vulnerability can earn you from your team. Not knowing is not the end of the world; it’s the beginning of a learning journey. Take your team along for that ride.

Allow me to offer some actionable tips with a splash of real talk —

Admit When You Don’t Know — It’s better to admit ignorance than to pretend and get it wrong.
Be Resourceful — Say you’ll find out and actually do it. Tap into your network, do your research, and get back with an answer.
Involve Your Team — Use this as an opportunity to delegate and involve other team members. Who knows, they might actually have the answer!

Do you still think admitting that you don’t know something makes you look weak? Think again. Because when you try to fake knowledge, the only person you’re truly fooling is yourself.

#2. Jumping Into Big Steps Without Testing the Waters.

You’ve come to terms with not having all the answers — Excellent!

Now let’s talk about something equally pivotal: those massive leaps of faith. Did you know that a staggering 70% of startups crash and burn due to premature scaling?

It’s tempting to heed Elon Musk’s battle cry: “When something is important enough, you do it even if the odds are not in your favor.” But let’s clarify, even Musk’s ventures like SpaceX follow a carefully scripted strategy.

So, what’s the real differentiator between a visionary and a reckless gambler?

Strategy, plain and simple.

Geo-Targeted Marketing — Planning to launch a new product? Test it in a specific region first. Are your analytics singing a happy tune? Good, you’re ready to scale a bit more.
Minimum Viable Campaigns — Debating a full-scale marketing extravaganza? Try a small, A/B-tested campaign first. Let real-world data decide your next move, not just gut feeling or ego.
Your Personal Advisory Board — Use your network of experts — mentors, peers, key employees — as a sounding board before making big decisions.

Audacity is not about wild, unfounded risks; it’s about calculated, data-driven ones.

So here’s your gut-check question: Are your bold moves informed by smart strategy or just sheer bravado?

Your next step could either elevate your business to new heights or land it in the startup graveyard. So, think strategy, not just scale.

#3. Waiting too Long.

Alright, you’re getting the hang of this. You’ve sidestepped recklessness by embracing a data-driven strategy. Well done!

But let’s talk about the flip side — procrastination.

Ever heard the phrase “You snooze, you lose”? Yeah, it’s cliché, but it’s got a point. Howard Schultz, the brains behind Starbucks, said it best,

“Risk more than others think is safe. Dream more than others think is practical.”

In simple terms, you can’t sit on your hands forever. If you’re always in the planning stage, always waiting for that “just right” moment, you’re going to get left behind.

While you’re hesitating, someone else is jumping in, messing up, learning, and getting ahead.

So how do you know when to make a move?

Easy. Give the world something to react to.

Maybe that means releasing a basic version of your new app or sharing a draft of your guide to better marketing strategies. The point is, you won’t know how good your idea is until you let it out into the wild.

Let’s get practical. If you’re about to launch a new product, why not offer a “beta version” to your most dedicated customers? Their feedback can be a goldmine.

Or, if you’re thinking of expanding your offerings, start small — add just one new thing and see how people respond.

Now, let’s shatter a myth: Waiting for the “perfect moment” is not a strategy; it’s a stall tactic.

So here’s the big question: Are you a dreamer or a doer? Plans are great, but action is where the magic happens.

Your future in business isn’t just about planning; it’s about doing. Perfect timing is a myth; the right time is now.

#4. Avoiding Pain.

So you’re done with procrastinating, and you’re ready for action. But let’s hit pause for a second — what about the tough stuff?

Ever heard the phrase, “What doesn’t kill you makes you stronger?” Yeah, it’s not just a saying, it’s a business strategy.

Carl Jung, the famous psychologist, once said,

“Neurosis is always a substitute for legitimate suffering.”

In other words, avoiding the hard lessons won’t do you any favors.

Here are some invaluable nuggets of wisdom to keep in mind —

Embrace Challenges — They’re not setbacks; they’re opportunities in disguise.
Learn and Pivot — Every mistake is a lesson. Make the adjustment and move on.
Be Proactive — Don’t wait for the storm to hit. Make your move before problems escalate.

Now, why does this matter? Well, while you’re making moves and ditching procrastination, it’s easy to want to sidestep the hurdles.

But hurdles are where you prove your mettle. They give you the experience to maneuver future challenges more skillfully.

So here’s your action plan: Don’t dodge the tough stuff. Meet it head-on, learn from it, and use it as fuel to propel your business forward.

Remember, nobody ever sidestepped their way to success. So, are you learning from your pain, or just dodging the lessons it offers? Your choice.

#5. Letting Fear Guide Decisions

So you’ve decided to face the painful aspects of entrepreneurship head-on. Kudos! But here’s the next curveball — fear.

You can’t talk about pain without also addressing its sneaky cousin.

Renowned life coach Tony Robbins once said,

“The only limit to your impact is your imagination and commitment.”

A less eloquent way of saying this? Fear stunts your growth.

Misconception Alert — Fear keeps you safe. Actually, it often keeps you small.
Face Fear, Don’t Flee — When you feel fear, it’s a sign to pay attention, not to turn around and run.
Lean on Logic — Make decisions based on data and instinct, not fear.

You’ve already learned to use pain as a stepping stone, and guess what? Fear works the same way. It tells you where your boundaries are, and then dares you to break them.

And this is where fear ties back into avoiding pain and waiting too long.

Each one feeds off the other.

Action Plan — Write down what you’re afraid of. Is it losing clients? Bad reviews? Write down possible solutions next to each fear. It demystifies the scary stuff.
Courage, not Comfort — Make it a habit to do one thing every week that scares you in your business. It’s like a gym workout for your courage muscles.

So what’s the plan now? Take your fear, put it in its place, and use it as a compass.

Let it show you where you need to go, but don’t let it dictate your pace or your path. In short, feel the fear but do it anyway.

Are you letting fear hold you back, or are you harnessing it as a powerful motivator? In the grand scheme of things, fear is just another obstacle in the obstacle course of entrepreneurship.

Will you let it trip you up, or will you use it to become more agile, more savvy, and ultimately more successful?

Your choice. Choose wisely.

Bottom line: It’s Time to Take the Wheel

Steve Jobs once said,

“Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose.”

So, what’s holding you back? We’ve walked through the pitfalls that even seasoned entrepreneurs stumble into. But here’s the thing — you have the power to pivot.

As someone who’s built multiple 7-figure agency and has a team of over 15 amazing people, I’m not sharing this knowledge lightly.

Why would I write all this free content for you? Because I’ve been in your shoes. My goal? To help you make that transformation.

If you’re like me, you began your agency journey with sky-high dreams:

Creating an agency that’s the talk of the industry
Financial freedom to live life on your terms
Total control over your time and schedule
The liberty to work from any corner of the world

But instead, you’re mired in:

Uncertainty about the next paycheck
Complaints from less-than-ideal clients
Fruitless sales calls
Draining deadlines
Firefighting operational hassles

Sound familiar? Your agency doesn’t have to be a source of stress. Your dreams can be your reality.

I’ve spent over 15 years fine-tuning a proven system built on more than $10 million in agency revenue. This system can double your agency’s revenue in just 100 days.

Here’s what I can offer you:

Unveil what’s pulling you back
Diagnose your business phase
Focus on strategies that matter right now
A foolproof plan to scale your revenue
My personal guidance every step of the way

If you’re ready to break free from the quagmire and create the agency you’ve always envisioned, DM me on Instagram for a complimentary strategy session. But act fast. These slots are limited since I’m actively leading my agency to new heights.

Still, reading? Then you’re serious about change. So am I.

Don’t hesitate. Your future agency is waiting for you to make the first move.

DM me, and let’s get started on building your dream agency.

I look forward to helping you redefine success.

-Wayne

P.S. — The clock’s ticking on these complimentary strategy sessions, and they’re flying off the shelf. Why? Because they work. Don’t miss your shot.

DM me now.