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Thinking Errors Entrepreneurs Must Avoid

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When it comes to our thinking patterns, no mind is truly a blank page. Every person has been influenced and even tainted by previous experiences that shape and define every thought that they have. If not addressed, these cognitive distortions, or “thinking errors” can derail your decision-making process unknowingly. According to Psychology Today, “Thinking errors are irrational patterns of thinking that can both cause depression and be caused by depression (Psychology Today).” Thinking errors are generally the result of a person’s subjective assessment (or narrative) of an early life experience that shapes and maintains their fundamental thoughts and understanding of themselves and their surrounding world. Thinking errors are often the unspoken voices in the room that can send a leader, or a business down a path of self-sabotage. Be mindful in your decision-making journey of these familiar “thinking errors.”

All-or-Nothing Thinking – Entrepreneurs can often fall into this category of believing that there is a “magic pill” that will lead to their success or that one “bullet” will doom their future. Success or failure, win or lose, good or bad... this can cause leaders to believe that their current circumstances are more extreme and permanent than they actually are. As you weigh out your decisions, be careful of (and expose when necessary) statements, arguments, or ideas that fall into this thinking error.
Overgeneralizing – Leaders can easily begin to believe that the implications of one experience in their lives or business can be universally transferable to other circumstances. A leader may conclude, “I couldn’t close the deal... I will never be good at sales.” or “We tried a direct mail campaign before, and it didn’t work... marketing our product is a waste of time and money.” Do not assume that one experience is universally true of yourself or your business. Learn from the experience, but do not let it define you.
Filtering Out the Positive – A business or product may get nine positive reviews and one negative. Business leaders who filter out the positive will totally ignore all positive encouragement or success and fixate solely on negative feedback or perceived failure. Entrepreneurs should be reminded it is impossible to be perfect or universally liked all the time, and that our value and confidence can only be based on what God says of us and whether we have pursued integrity in our conduct. When processing with a decision-maker who filters out the positive, challenge them to write down or speak out loud the positive feedback they have received. Ask them if there is anything that they can learn from a negative comment. Encourage them by pointing to examples of people or businesses who overcame criticism to accomplish great things.
Mind-Reading - The brain has a way of creating narratives out of random facts and occurrences. Without clear communication, feedback or research, leaders may begin to assume they know what’s going on in the minds of their employees, customers or competitors, often from a negative perspective. If someone cancels a subscription, returns a product, or fails to follow through on an assignment, be on guard towards the mind’s capacity to create a narrative that has not been written. Remember to communicate well and to seek understanding when you or others on your team begin to assume the worst about others.
Catastrophizing - “If we don’t get this sale, we are finished...” While everyone can be prone to hyperbole now and then, when a leader or team member begins to speak in catastrophic terms, it is necessary to address this thinking error. Taking the necessary time to think through potential outcomes and solutions when people make “end of the world” prognostications can be a helpful tool for recalibrating their thinking to a more reasonable perspective.
Emotional Reasoning - If a business leader today “feels like he failed” than he may easily conclude that “I am a failure.” Emotional reasoning is the intellectual currency of the upcoming generation of leaders entering the workforce today. Entrepreneurs must be disciplined to lead themselves and their teams to think rationally, intellectually, and reasonably. One key to working with emotional reasoning is to begin by empathizing with the emotion but leading the emotional thinker to an agreed upon objective truth. Moving from subjective to objective reasoning will help others make sound decisions.
Labeling – A customer complains about his service and the staff is quick to add, “He is a total jerk.” Someone makes a racially insensitive comment, and she becomes a “racist.” Leaders and businesses who are quick to label and condemn others without second thought, will before long become the one who is labeled. Labeling others is often a lazy way of escaping responsibility or resolving conflict. Labeling can easily become a way of humiliating, ostracizing, and dehumanizing another human being, which works in opposition to the Christian doctrines of grace and mercy. Leaders and team members should be reminded of the power of words and labels and be corrected when they begin attaching labels on others.
Fortune-telling - “Even if we changed our hospitality systems, we still wouldn’t improve customer satisfaction.” These types of thoughts can become self-fulfilling prophecies if a leader is not careful. When a team member is predicting unfavorable outcomes, remind her of the times when hard work and good decision making have produced good results. Ask her what it would look like if she accomplished her goals? What would be some healthy steps she could take to get closer to those goals?

When addressing “thinking errors” in your own life or on your team, remember to use positive, solution-oriented guidance. Avoid speaking in a way that makes people feel inferior or ashamed for the way they have been thinking. These cognitive distortions are normal and widely accepted, so they must be lovingly rooted out. Take time to walk through specific scriptures that deal with developing a healthy thought life such as, Philippians 4:7-9, 2 Corinthians 10:5 Romans 12:2, James 1:5-6 and 2 Timothy 1:1-7.

The Soul of an Entrepreneur is a new IMPACT Cohort study for men who want to succeed in launching a start-up without compromising their convictions or depriving their relationships. It is possible to grow as husbands, fathers, and leaders and launch your start-up well. Find your band of brothers and join or start an IMPACT Cohort and participate in The Soul of an Entrepreneur. Launch here.

Warren Mainard
National Director | IMPACT Players
warrenm@impactplayers.org

To Equip & Encourage

Thinking Errors Entrepreneurs Must Avoid

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