Instead of Honeymoon Plans

David Henemeier Hanson calls it “the honeymoon phase”. We get a new idea and it’s all lightbulbs and ah-ha moments.

If this idea works, we might just take over the world.

It starts with a concept or business model or technical idea.

It’s a grand vision.

But be careful, writes Daniel Kahneman. This is the “planning fallacy”. We overestimate how long things will take, how much things will cost, and how much we can get done. Our best intentions and great ideas meet reality and reality wins.

The planning fallacy isn’t a problem at Hanson’s business, Basecamp.

Instead of riding the honeymoon wave, Hanson asks there’s got to be a version of this we can do in six weeks - what is that?

Entrepreneurs are optimists. We think we can. We get excited but too excited is too much. Don’t fall for the planning fallacy, and instead try a time wall.

What can you do in six weeks?

The Daily Entrepreneur newsletter delivers brief meditations on the principles & practices of the world's greatest business builders. This newsletter will always remain free and dedicated to helping you get a little better each day.