Hesitating to start a project for fear of wasting time and money is a paradox. The most significant waste is the opportunity cost of inaction—staying on the sidelines while revenue and experience are left on the table.
Many creators delay starting due to fear of not having the right tech or skills. Starting imperfectly with what you have is crucial, as this "messy action" builds momentum and self-belief. Waiting for perfection is simply an excuse to not begin.
For entrepreneur Emma Hernan, the fear of failure is less significant than the regret of procrastination. She advises aspiring founders that the greatest risk isn't that a venture might fail, but that it might never start. The opportunity cost of waiting is higher than the cost of a potential misstep.
Claiming to have too many ideas is not an intellectual problem but an emotional one. It is a common excuse to avoid taking action, rooted in a deep-seated fear of failure and social judgment. The solution isn't better analysis, but simply taking action—flipping a coin or throwing a dart—to overcome the emotional barrier.
People often fail to act not because they fear negative consequences (cowardice), but because they believe their actions won't have a positive impact (futility). Recognizing this distinction is critical; overcoming futility requires demonstrating that change is possible, which is different from mitigating risk.
While it's easy to regret known bad decisions, like passing on an investment, the far greater mistakes are the unseen ones. The meeting you canceled or the connection you didn't pursue could have been the pivotal moment of your career. This mindset liberates you from the fear of making visible errors and encourages action.
Perfectionism isn't just a mindset; it's a tangible cost. It manifests as a 'time tax' through delayed projects, an 'opportunity tax' by missing market windows, and a 'confidence tax' where waiting longer erodes your self-belief instead of building it. Quantifying these costs reveals the high price of inaction.
Agency leaders often delay decisions for fear of being wrong, creating significant opportunity costs and mental distraction. This paralysis is more damaging than the risk of an incorrect choice. Any decision is better than indecision because it provides momentum and learning, a lesson especially critical for small or solo-led agencies.
A founder's retrospective analysis often reveals that delayed decisions were the correct ones, and the only regret is not acting sooner. Recognizing this pattern—that you rarely regret moving too fast—can serve as a powerful heuristic to trust your gut and accelerate decision-making, as inaction is often the biggest risk.
The number one reason founders fail is not a lack of competence but a crisis of confidence that leads to hesitation. They see what needs to be done but delay, bogged down by excuses. In a fast-moving environment, a smart decision made too late is no longer a smart decision.
Ed Stack's first major expansion was plagued by mistakes because he was ignorant of real estate and construction norms. This naivety, however, was an asset. It allowed him to act without the paralyzing fear of everything that could go wrong—the very fear that had stopped his father for decades. Ignorance can be a catalyst for bold action.