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.
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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.
Founders often get stuck endlessly perfecting a product, believing it must be flawless before launch. This is a fallacy, as "perfection" is subjective. The correct approach is to launch early and iterate based on real market feedback, as there is no perfect time to start.
The best leaders act on incomplete information, understanding that 100% certainty is a myth that only exists in hindsight. The inability to decide amid ambiguity—choosing inaction—is a greater failure than making the wrong call.
The most common failure mode for a founder-CEO isn't a lack of competence, but a crisis of confidence. This leads to hesitation on critical decisions, especially firing an underperforming executive. The excuses for delaying are merely symptoms of this confidence gap.
Being unable to choose between several viable ideas isn't a strategy problem; it's a psychological one. This indecisiveness is often a defense mechanism, allowing you to talk about potential without ever risking the public failure of execution. The solution is to force a decision—flip a coin, draw from a hat—and commit.
All founders make high-impact mistakes. The critical failure point is when those mistakes erode their confidence, leading to hesitation. This indecisiveness creates a power vacuum, causing senior employees to get nervous and jockey for position, which spirals the organization into a dysfunctional, political state.
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.
The most paralyzing decisions for a leader aren't clear-cut choices but dilemmas where every path is painful. Ben Horowitz's decision to take his company public with minimal revenue was a bad idea, but the alternative—bankruptcy—was worse. The key skill is choosing the 'slightly better' path in the abyss, despite the guaranteed negative feedback.
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.
