Embracing Mistakes | The Planning Fallacy | Join the Community

Welcome back! Here are my 3 highlights for September:

1.?? Mindset: Embracing Mistakes

Let me share a little story from my own journey: My husband and I share a passion for building things together. Currently, we're knee-deep in the construction of a wooden bike shed and it's fascinating how our perfectionistic tendencies often manifest differently in how we’re approaching various tasks.

So when I started staining the wooden boards, it took forever because I was carefully trying to avoid the paint from dripping. It drove me nuts because no matter how painstakingly I worked, I simply couldn’t avoid having some paint drip to the other side of the board.

My husband’s approach was so much faster: Just paint the damn thing without worrying too much and simply wipe excess paint off afterward. Duh! Just as effective, way more efficient…

If we embrace the dripping paint – or mistakes in general – as something we can’t completely eliminate, we can channel our time & energy to come up with better ways to deal with the inevitable mishaps.

Think about it—how often do fear and worry steal away your time and energy?

It might just be time to accept that making mistakes is inherently human. While striving for excellence is admirable, we must be mindful of where we channel our energy. Perfectionism is so often the enemy of progress.

“Have the courage to make mistakes, and the resilience to grow from them.”

Embracing mistakes isn't a concession of failure; it's a recognition that perfection is an elusive beast. By acknowledging this truth, we liberate ourselves to focus on what truly matters: the pursuit of our goals and the valuable lessons we gain along the way.

I had the pleasure of delving deeper into this topic during a recent conversation with Mark Graban on the Wired For Success podcast.

We discussed how embracing mistakes can be transformative, turning them into invaluable learning opportunities. If you're curious to learn more, check out the episode here:

The Mistakes That Make Us & Lean Principles for Entrepreneurship Success with Mark Graban | Episode #156

2.?? Productivity: The Planning Fallacy

Another great reminder from building the bike shed: Things ALWAYS take longer than you think…

For example, I estimated that staining those wooden boards would be a breeze, a mere two weekends of effort. Easy, right?

Well, guess what? Reality has a way of humbling us.

As you might have guessed, those two weekends didn't quite cut it. It took me not two weekends, but THREE WEEKS, including the weekends, to complete the task. Hello, Planning Fallacy, my old friend…

?Now, what does this have to do with our entrepreneurial dreams? Everything!

When we embark on ambitious projects, whether it's building a bike shed or scaling our businesses, we often rely on our gut feeling for project timelines. But here's the catch: Gut feelings aren't always the best compass in uncharted territory.

Here's why you need to be aware of the Planning Fallacy:

1?. Optimistic Bias:

Our estimations tend to be overly optimistic. We visualize the best-case scenario and disregard potential roadblocks.

2?. Lack of Data:

If you haven't done something before, you lack the data to make accurate predictions. It's like navigating in the dark without a flashlight.

3?. Unforeseen Challenges:

Projects, just like life, throw curveballs. Murphy's Law is a frequent visitor when you least expect it.

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So, what's the antidote to the Planning Fallacy?

Data-Driven Planning:

Embrace data from previous experiences or benchmark against industry standards.

Contingency Planning:

Always factor in a buffer for the unexpected. Think of it as your insurance policy against delays.

Collaboration:

Seek input from experts and colleagues who've been down the same road. They can provide invaluable insights that are more accurate than your gut feeling.

3.?? Join the Community

?I wholeheartedly believe that building relationships and collaborating with like-minded individuals is the best thing you can do for your mental health, well-being, AND your business success.

?Research has repeatedly shown that maintaining strong relationships and fostering a sense of community have profound positive impacts on our mental health and overall well-being.

People with a robust social network are not only happier but also tend to be more productive and successful in their professional lives. The science is clear: When we feel connected, supported, and understood, we thrive.

Collaborative relationships and communities aren't just about warm and fuzzy feelings though; they're also powerhouses for your entrepreneurial journey.

Research reveals that entrepreneurs who actively engage in professional networks and communities tend to be more innovative and adaptable. Being part of a community exposes you to diverse perspectives, fresh ideas, and potential partnerships that can supercharge your business growth.

So, how can you experience the magic of collaboration and community firsthand?

Introducing the Health Tech Collective LinkedIn Group:

I'm thrilled to invite you to our growing networking and support group for HealthTech entrepreneurs, biohackers & health enthusiasts!

In the Health Tech Collective, we're all about supporting each other on our entrepreneurial journeys, sharing insights, and exploring the exciting intersection of health, technology, and business. It's a place where you can connect with like-minded individuals, exchange ideas, and supercharge your growth.

Here's your exclusive invitation to join us in this collective journey toward success, both in business and in well-being. ??

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?? Join the Health Tech Collective

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And if you’re an early-stage HealthTech entrepreneur looking for more personalized support, don’t hesitate to book a free 20min Strategy Session with me to discuss how I can help you grow.

That’s it for today!

Until next time,

Claudia

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PS: Elevate your game with the Wired For Success Podcast . ?? Get weekly doses of science, self-development, and entrepreneurship insights to fuel your journey to the top. Ready for that next level of success? Subscribe today!

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