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I think most successful business owners are above average intelligence, but they’re also frequently really blinkered - they know a lot about something but almos

I think most successful business owners are above average intelligence, but they’re also frequently really blinkered - they know a lot about something but almost nothing about a lot of other stuff, if it hasn’t come up in their path. It’s such a noticeable lopsidedness that I almost wonder if it’s a kind of prerequisite for being so foolish as to start a business.

michaelmrose 3y ago
The main criteria for becoming a business owner is access to capital not ability and by there are more small businesses then large concerns. Furthermore actually smart people aren't generally blinkered intelligence is by definition generalizable. Your confusing reasonably trained in a narrow area with intelligence.
- Eisenstein 3y ago
  > intelligence is by definition generalizable. How do you define intelligence?
  - michaelmrose 3y ago
    I like this definition "A very general mental capability that, among other things, involves the ability to reason, plan, solve problems, think abstractly, comprehend complex ideas, learn quickly and learn from experience. It is not merely book learning, a narrow academic skill, or test-taking smarts. Rather, it reflects a broader and deeper capability for comprehending our surroundings—"catching on," "making sense" of things, or "figuring out" what to do"
- alvah 3y ago
  I don't know where you live, but in most Western countries the capital required to become a business owner (i.e. start a legal business entity) is within reach of most people.
  - michaelmrose 3y ago
    Unless we are talking about the money to file the paperwork to instantiate such an entity this just isn't true at least in the US. Lets examine the parameters. In order to start a new business one has to be able to cover startup costs and live on your savings. Lets look at average savings as a starting point. https://www.zippia.com/advice/american-savings-statistics/ https://www.zippia.com/advice/american-savings-statistics/ About 33% have 10,000+ and 42% have less than 1000. Even 10k is really very little in truth just a little runway until you can either acquire additional funding or crash and burn. Lets inject some reality. Half of America has basically nothing. Another 25% would have to sink the majority of their accumulated wealth eg home equity into such an endeavor with a 50 50 chance of existing in 5 years. They COULD do it but it would be both scary and dangerous and half of them would end up ruined. It's like saying I could climb Everest. I could scrape up the funds for the plane ticket and its possible I might survive the trip but anyone saying "most people could climb Everest" would be talking nonsense.
    - alvah 3y ago
      “and live on your savings.” << this is an obvious strawman. There are plenty of ways to start a business without instantly giving up other employment.
      - michaelmrose 3y ago
        To be quite frank this is mostly bullshit. Few people in the majority could live on less than full time hours or successfully launch a new endeavor on less. The counter examples mostly involve the "business" of owning things. For example owning the house someone else lives in especially if the day to day affairs are managed by a property manager, or investing in an endeavor wherein the majority of the work is done by those slightly less privileged wherein the "work" is effectively giving direction to secure your investment.
        alvah 3y ago
        -“To be quite frank this mostly bullshit” -some ramble about how it’s all too hard Excellent debating style right there!
- barrkel 3y ago
  No, I’m saying that smart people can be blinkered, that knowledge is distinct from intelligence, and successful businesspeople are sometimes lacking in general knowledge, sometimes startlingly so.
Ma8ee 3y ago
I think it is necessary for being really successful in most fields that you neglect a lot of other stuff. I've had to deal with quite a few successful scientists, and it is striking how otherwise very intelligent people can show an almost shocking naiveté in regards to, e.g., politics (outside faculty, I might have to add).
josephg 3y ago
My take is that business owners are bottlenecked on their capacity to take in information. If they could integrate more knowledge about what’s going on in their business, they would be able to make better decisions. And they know it. So there’s a very high opportunity cost spending that cognitive effort researching random things online. You simply don’t get to put all your focus on making your business succeed without being a bit “blinkered”. That’s what focus means.

michaelmrose 3y ago

The main criteria for becoming a business owner is access to capital not ability and by there are more small businesses then large concerns. Furthermore actually smart people aren't generally blinkered intelligence is by definition generalizable. Your confusing reasonably trained in a narrow area with intelligence.

Eisenstein 3y ago
> intelligence is by definition generalizable. How do you define intelligence?
- michaelmrose 3y ago
  I like this definition "A very general mental capability that, among other things, involves the ability to reason, plan, solve problems, think abstractly, comprehend complex ideas, learn quickly and learn from experience. It is not merely book learning, a narrow academic skill, or test-taking smarts. Rather, it reflects a broader and deeper capability for comprehending our surroundings—"catching on," "making sense" of things, or "figuring out" what to do"
alvah 3y ago
I don't know where you live, but in most Western countries the capital required to become a business owner (i.e. start a legal business entity) is within reach of most people.
- michaelmrose 3y ago
  Unless we are talking about the money to file the paperwork to instantiate such an entity this just isn't true at least in the US. Lets examine the parameters. In order to start a new business one has to be able to cover startup costs and live on your savings. Lets look at average savings as a starting point. https://www.zippia.com/advice/american-savings-statistics/ https://www.zippia.com/advice/american-savings-statistics/ About 33% have 10,000+ and 42% have less than 1000. Even 10k is really very little in truth just a little runway until you can either acquire additional funding or crash and burn. Lets inject some reality. Half of America has basically nothing. Another 25% would have to sink the majority of their accumulated wealth eg home equity into such an endeavor with a 50 50 chance of existing in 5 years. They COULD do it but it would be both scary and dangerous and half of them would end up ruined. It's like saying I could climb Everest. I could scrape up the funds for the plane ticket and its possible I might survive the trip but anyone saying "most people could climb Everest" would be talking nonsense.
  - alvah 3y ago
    “and live on your savings.” << this is an obvious strawman. There are plenty of ways to start a business without instantly giving up other employment.
    - michaelmrose 3y ago
      To be quite frank this is mostly bullshit. Few people in the majority could live on less than full time hours or successfully launch a new endeavor on less. The counter examples mostly involve the "business" of owning things. For example owning the house someone else lives in especially if the day to day affairs are managed by a property manager, or investing in an endeavor wherein the majority of the work is done by those slightly less privileged wherein the "work" is effectively giving direction to secure your investment.
      - alvah 3y ago
        -“To be quite frank this mostly bullshit” -some ramble about how it’s all too hard Excellent debating style right there!
barrkel 3y ago
No, I’m saying that smart people can be blinkered, that knowledge is distinct from intelligence, and successful businesspeople are sometimes lacking in general knowledge, sometimes startlingly so.

Ma8ee 3y ago

I think it is necessary for being really successful in most fields that you neglect a lot of other stuff. I've had to deal with quite a few successful scientists, and it is striking how otherwise very intelligent people can show an almost shocking naiveté in regards to, e.g., politics (outside faculty, I might have to add).

josephg 3y ago

My take is that business owners are bottlenecked on their capacity to take in information. If they could integrate more knowledge about what’s going on in their business, they would be able to make better decisions. And they know it. So there’s a very high opportunity cost spending that cognitive effort researching random things online. You simply don’t get to put all your focus on making your business succeed without being a bit “blinkered”. That’s what focus means.