Shaun White has pulled out from the 2014 Winter Olympics slopestyle contest Wednesday after coming to the conclusion it was too dangerous. Shaun states he will not risk his Olympic goals on one contest. He took numerous practice runs on the slope and after seeing athletes get injured, he decided to pull out.
Business Startups can learn a lot from this simple lesson. White is an experienced athlete with years of experience in snowboarding and decided to pull out of competition on the biggest stage of his sport due to observational information he witnessed. He probably battled back and forth about pulling out based upon his competitive nature but overall decided his long term goals were worth more.
Business Startups need to take risks to get going. They say Entrepreneurs are risk takers, thus their companies must take risks to become established. But what they should learn from this lesson is that you need to learn from fellow competition of what is working and what is not. Being observational in your field will help you propel over competition by simply watching what is working and what is not. It is the competitive nature in every entrepreneur that helped the drive for creating a business.
But now that you have an established business up and running, you must pick and choose your battles. Calculate your overall goal of where you would like your company to get and decide if that risk you are about to take will help or hurt your long term goals.
Stay hungry fellow business Startups!
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