Ass+u+me: How Assumptions Hurt Your Business

Donkey

Definition of assumption (n)

  • as·sump·tion
  • [ ə súmpshən ]
  1. something taken for granted: something that is believed to be true without proof
  2. belief without proof: the belief that something is true without having any proof

We all make assumptions. It’s human nature. We take whatever bits of information we have available to us, filter them through the limited view of our window on the world, and start piecing together a story about what it all means.

There’s actually no harm in doing this. It can even be a useful exercise. But things get dangerous when you forget that what you’re doing is forming a hypothesis, and start making decisions under the delusion that you’ve already discovered the truth without bothering to test the hypothesis.

Attempting to build and run a small business on a series of assumptions is a recipe for disaster. An assumption that is built on a reasonable knowledge base can be a great jumping off place, but it’s just the beginning.

When it comes to business, the only thing you should ever assume is responsibility.

You assume that if you follow up with past clients you’ll be bugging them, when maybe the truth is that they’ve been meaning to contact you, but keep forgetting, because life is busy.

You assume that it’s a crazy pipe dream to quit your day job to pursue your dreams, because when you were thirteen your dad told you that painting is a hobby, not a career, and you needed to be realistic. Sadly, your dad didn’t know anyone who made a living painting, but if you do a little research, you’ll discover that people do that.

You assume that you don’t have what it takes to advertise successfully. In fact, you’ve convinced yourself that this is why your business is failing. How do you know? Have you read books on the subject? Attended courses? Hired someone to teach you? And if you did do those things, did you actually attempt to implement what you learned? How many hours a week do you spend on advertising?

A lot of the assumptions we make are based on fear and low self-esteem, and the only way to move out of these inhibiting thought patterns is by pattern interruption. This doesn’t mean that you won’t think the thoughts. It just means that you won’t let the thoughts dictate your actions. These paralyzing assumptions don’t just hurt your business, they can actually stop it before you start. A lot of fantastic ideas have never seen the light of day because of this type of thinking.

The other side of this ever-spinning coin would be assumptions made out of arrogance or full-on delusional thinking. These are the things that lead to impulsive, and oftentimes disastrous, decision making. If you’ve come up with a fantastic business idea and have decided to tell your boss to shove off tomorrow, even though you only have twenty bucks to your name and haven’t even taken the first step towards turning that great idea into a reality, please reconsider.

There are different types of programs, tools, and professionals that help business owners make decisions that test assumptions and provide data and feedback for informed decision making. A lot of them are fantastic, so I’d never suggest that business owners should bypass these services. However, if you’re on a tight budget, they can be cost prohibitive. Luckily, when you’re just starting out, you can take a much simpler approach that won’t cost you a cent.

Instead of assuming that you know what people are thinking, ask them. Instead of assuming that an idea will work or fail, test it on a small scale. And most importantly, do not ever, ever, ever assume that you’re not good at something unless you’ve invested a significant amount of time and effort trying to get good at that thing.

Letting assumptions rule your life keeps you in a perpetual state of ignorance. You’re too smart to hang out there.

What assumptions have you been making about your business that may not be true? What steps can you take to test the validity of your beliefs?

 

 

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