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For an entrepreneur, the truth related to opportunity, market, product, and customers is a constant pursuit. The truth, however, is fungible. Things change and if you want to succeed as an entrepreneur, you need to match the moments of truth with appropriate change. Discovering the truth about your business, or your customers or your marketplace is one side of the issue. The other side of the issue is avoiding false beliefs.
So, where will you encounter mistruths? Fom people who provide false statements, beliefs or assumptions in the form of opinions or advice. It is a fact of life that people will mislead you on occasion. Some people will intentionally mislead you, and others will inadvertently mislead you. Some people will do it all the time and others will do it only sometimes. Either way, a person’s intention is irrelevant if you are ultimately misled or make decisions based on faulty information.
If you want to do well with your business, you’ve got to be superior at spotting nonsense and recognizing crap when you hear it. Strive to develop a well-honed B.S. meter. Without one, you waste time and squander opportunities. With one, you avoid time wasting tangents, useless fire drills and other time sinks.
If want to enhance your B.S. spotting skills, you should do the following six things.
Determine the speaker's self interest
Whenever someone is presenting a point of view, you owe it to yourself to consider how their opinion might correlate to their own self-interest. After all, there must be some reason they have to make the argument to you in the first place. And that reason more likely correlates with their own self-interest than with yours.