I am a franchise owner
On paper at least
A good number of years ago I took the snap decision of buying into a franchise
It was a small investment,
low capex,
easy to setup,
new for the local market,
fit for an economy with a growing middle class.
Risk-return analysis made it a no-brainer especially since at that time I was preparing to relocate without any clear opportunity awaiting.
What do I stand to loose I asked myself?
So I bought into it.
And failed at turning it into a business.
What I omitted from my fact-based analysis was whether that business would meet my values in way.
I crunched the numbers but failed to acknowledge that my motivation is not only in those numbers.
I was still passionate about finance and investments and found myself struggling to focus on the marketing and operational effort that developing an unrelated business required. The prospect of earning a satisfying income wasn't enough.
Being trained to look at numbers left me unprepared to listen to my inner voice.
Looking at business criteria made me underweight how critical it is to meet what is important to me.
Between being heavily rational/thinker and a deep feeler there is a sweet spot that I have found to work much better when making financial decisions.
Seeking to remove our feelings completely when taking important decisions can be a source of irrationality rather than rationality.
Do you have similar experiences of your rational mind fooling you when making financial decisions?
___________________
Comments