Do you still remember what happened when the Lehman Brothers declared bankruptcy? The news traveled like wild fire from the US to Europe to Asia – all in a matter of minutes, I suppose. A lot of people were running around like headless chickens, trying to make sure that they will not go down with the giants.
It seems that with the economic problems that prevail, one common result is that ordinarily bright and adventurous entrepreneurs suddenly halt in their tracks and take time to reconsider their activities. While this course of action does make sense and is actually prudent, becoming “paralyzed” with fear about taking risk is the total opposite.
Sramana Mitra wrote something about this topic over at Forbes.com. Here is the gist:
The most worrisome implication of these successive events is that the world will tailspin into a fear psychosis and all the drivers of progress and prosperity–innovation, entrepreneurship, consumer confidence and reform–will get paralyzed.
The article mainly wants to point this out – the media is also responsible for NOT fostering an atmosphere of fear. I want to take it one step further and lay some of the responsibility at OUR feet – we should not believe everything that we read and hear about. The facts are there. Some of it may result in fear but at the end of the day, we are responsible as to whether or not we will let that fear get in the way of business, don’t you think?
Originally posted on January 19, 2011 @ 7:43 am