Is overanalyzing killing your real estate investment business?
There’s nothing wrong with trying to be careful. Believe us, we believe in looking at the numbers, carefully weighing the data, and making good, evidence-based decisions. It’s only smart to go in objectively.
That said, there’s a little something called analysis paralysis that can psyche out the best of us. It can cause you to lose out on deals, delay good decisions, and miss out on great opportunities. As they say: you miss 100% of the shots you never take.
Analysis Paralysis is Real
This phenomenon plagues decisionmakers in just about every field. It was psychologist Barry Schwartz who coined the phrase “paradox of choice,” in describing his findings that though increased choice objectively allows us to achieve better results, it also greatly increases our anxiety, dissatisfaction, indecision, and mental paralysis.
More information and unlimited access to that information (thank you, Internet), while empowering, means that instead of just being empowered to make better, more informed choices, we’re also more afraid of making the wrong choices.
That fear keeps holding us back.
We’re spinning our wheels.