How inventors and entrepreneurs loose touch with reality
Romancing the Vision
There is no doubt that building and creating a product and then turning that into a business that supports you and your family is fulfilling, even addictive.
Not every business owner has lot touch with reality but it does happen. When it does happen the risk of business failure increases substantially. It does not happen because they are weak, poor managers, or stupid. They simply got hooked on the adrenaline rush that happens when you see your idea come to life.
I think the temptation to risk it all comes from falling in love with the process of seeing their vision (invention, idea, or business) fulfilled.
The Trap of Personal Fulfillment
Being in business is fulfilling, exciting, and consuming. The longer you pursue a business idea the more you loose perspective. When you loose perspective you begin to loose your objectivity.
Without perspective all that is left is your internal compass and when that compass has a strong attraction to personal fulfillment and self-actualization you are drawn away from common sense, reality, and you start to believe your own bullshit.
Do Your Homework To Regain Perspective
Market research, writing a business plan, and market testing can all help to bring you back down to earth. They provide the information you need to make modifications and adjustments.
Having a friend, coach, or mentor that will tell you the truth only works if you listen. For the some of those inventors they will have to pull their head out of their a#* first.
A business without customers is like a car without fuel – you aren't going anywhere. Listen to your customers, learn from them, and make adjustments.