Don’t Let Passion Blind Your Insights from Noam Wasserman

In the Wall Street Journal this week, Harvard Business School professor Noam Wasserman discusses the ways in which passion can get in the way of entrepreneurial success. This goes against the grain since passion is often identified as something critical for entrepreneurs to possess.

One argument he makes that caught our eye was this: “passion often blinds founders into thinking they have all the skills they need to build their business, when in fact they’re poorly prepared”. Before you conclude that you’re not one of these, consider the results of a survey Noam did with 100 Harvard Business School graduates who had become founders over the past decade. Only 2 percent of them said their preparation for starting a company was “flawless”!

So, what did they lack? The graduates reported the greatest thing they lacked was sales experience. The second biggest gap was in technical or scientific experience, and thirdly, lack of management experience. Do you lack any of these skills? Ask yourself today, take stock honestly, and seek resources to help you avoid the pitfalls that can impede your progress, before you destroy your startup.