Larry Namer: reviewing ideas before becoming attached to them
When Richard asked Larry Namer about costly mistakes, Namer discussed the difficulty of giving up an idea. He described his own habit of reconsidering ideas that initially seemed appealing.
The morning idea gets another look
Namer said he could wake up with ten new ideas and decide by evening that most or all were poor. He used that description to explain his concern about remaining attached to a project because it began with strong personal enthusiasm.
Time is part of the cost
His answer focused on time that could be spent on another activity. It leaves room to like the work while still asking whether the particular project merits continued effort.
In Larry Namer's words
"most people stick with stuff too long" (Larry Namer, Larry Namer's Family Office Club fireside chat with Richard C. Wilson)
How to use this
- Set a review point for a new idea before committing more time.
- Record what would justify continuing the project and what would justify stopping.
Questions and answers
What did Namer identify as a cost?
Continuing to spend time on an idea that should be reconsidered.
Did he discuss a named failed company here?
His answer described a general pattern and his own way of reviewing ideas.