« 5 Tips For Your Child’s First Haircut SOBCon 2008 – Register Now! »

The Psychology of Entrepreneurship
Mar 27 2008

Entrepreneurs are all just a little bit crazy and add motherhood on top of that and you get a whole new experience!  Entrepreneurs see the world differently, yet we still want to fit in, maybe more so if you are a woman and mother, for the sake of our children. 

I’m sure there have been books written about the psychology of entrepreneurship, but I don’t have time to seek them out.  I figure one will fall in my lap as I need it.  And interestingly Liz Pabon, who wrote The MavHERick Mind, recently reached out to me and will be doing a guest post on my blog soon.  I just began reading her book and so far it’s a fascinating read on how and why women entrepreneurs in particular hold themselves back from achieving the success that they are capable of.

A post also recently fell in my lap in-box written by Marc Andreessen, founder of Netscape and Ning, called The Psychology of Entrepreneurial Misjudgment.  It is an excellent read where he puts modern language around observations made by Charlie Munger, Warren Buffet’s long time partner and Vice Chairman of Berkshire Hathaway.  Here are the themes and you’ll have to head on over to Marc’s blog to read the rest:

One: Reward and Punishment Superresponse Tendency
Two: Liking/Loving Tendency
Three: Disliking/Hating Tendency
Four: Doubt-Avoidance Tendency
Five: Inconsistency-Avoidance Tendency
Six: Curiosity Tendency

The Doubt-Avoidance Tendency is the one that resonated with me the most.  It’s true that “You’d better not have a lot of doubts about what you are doing because everyone else will, and if you do too, you’ll probably give up.” But it’s darn hard not to have doubts when the stakes can be so high.  I would add that if you don’t have any doubts at all, then you might just run over a cliff without knowing it.  But if you need a quick answer, you can always ask the Magic 8 Ball (thanks to Scott Allen of The Virtual Handshake for the link).  I only had to ask my question 3 different ways to get the answers I wanted. 🙂

magic8ball-strategy.gif         magic8ball-money.gif

One thing I remember from Marc’s past blog posts is that there is a direct correlation between success and how many times you get up to bat.  Many inventors had a string of things that didn’t work out before they found the few that did, and the chances of finding something that does work increases when you try more things.  So Babble Soft is my second at bat.  I believe we barely slid into 2nd base with our first company, which is still operating, so I’m swinging for the fences on this one!

If you don’t want to miss more posts on entrepreneurship and parenting by me or my fabulous guest posters, Subscribe Now!  Oh and share your thoughts because blogging is a form of therapy even if most won’t outwardly admit it. 🙂

Author: | Filed under: babble soft, entrepreneur, entrepreneurship, marc andreessen | Tags: , , , , , , , , , , , , , , | 8 Comments »

8 Comments on “The Psychology of Entrepreneurship”

  1. 1 Suki Fuller said at 11:59 AM on March 27th, 2008:

    Although I am neither an entrepreneur nor mother I think you are clearly on point with your post.

    One thing that I have noticed with friends who are both:

    1. Those who use the skills of their entrepreneurship in their family life are on top of their game. They have have great success and are able to function way better than some of my other peers.

    I hold those who are mothers and entrepreneurs in high regard because the business of family is probably the hardest to run of all. So hopefully those who self-doubt should remember that.

  2. 2 Aruni said at 6:57 PM on March 27th, 2008:

    Thanks Suki! It’s good to know that you’ve observed that entrepreneurs who use their skills in family life are better off. Makes me feel better!

  3. 3 ourmonmouth said at 11:58 PM on March 27th, 2008:

    “Entrepreneurs are all just a little bit crazy and add motherhood on top of that and you get a whole new experience! ” Well in my case its fatherhood!! Entrepreneurs and life balance sometimes don’t mix. Maybe that is why I am catching up on my blog reading at 2am.

    Best wishes!

    ourmonmouth’s last blog post..Browser compatibility

  4. 4 Aruni said at 1:48 PM on March 28th, 2008:

    Hi ourmonmouth – I think when you mix in parenthood in general it takes it to a whole new level. An entrepreneur’s balance is different than most others. The lines blur between work and family but it’s all one life!

  5. 5 isabella mori said at 5:34 PM on April 1st, 2008:

    re going up to bat many times – reminds me of the research on quitting smoking. most people who have successfully quit smoking have tried a number of times. that’s certainly my personal experience, too.

    isabella mori’s last blog post..carnival of eating disorders #15

  6. 6 Aruni said at 8:20 AM on April 2nd, 2008:

    @isabella mori – I suppose entrepreneurship could be as addictive as smoking…not sure since I’ve never been a smoker. 🙂 I know what you mean though…often you have to keep trying before it all works out!

  7. 7 Link Love | eMoms at Home said at 11:38 AM on April 7th, 2008:

    […] writes a really interesting post called The Psychology of Entrepreneurship, and in doing so has got me wanting this book called The MavHERick Mind. She says it’s […]

  8. 8 ourmonmouth said at 7:23 PM on April 7th, 2008:

    Came back to this post after I saw it on eMom today. Sometimes I feel like I have a stubborn – committed tendency?!? That can’t be good…..

    ourmonmouth’s last blog post..Sunday Coffee Cup