LibraryScenariosWhen startup teams overestimate their capabilities in funding decisions
Scenario

When startup teams overestimate their capabilities in funding decisions

My startup team keeps arguing about whether to take venture funding because we're all overestimating our ability to maintain control and underestimating how much we need outside help, but none of us wants to admit we might not be as capable as we think we are.

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More people experience this than they realize.

What we've seen

Overconfidence bias is preventing your team from accurately assessing both your needs and your ability to meet them independently.

Ideas that help explain it
Worth thinking about

“Where Are You with Behavioral economics — biases in financial decisions?”

If this sounds familiar, the Library can help you find the bigger picture.