A DIFFERENT VIEW
Looking on the bright side is generally for the best, but when it comes to business, it pays to be pessimistic. A study published in the European Economic Review analysed 18 years of data from the British Household Panel, and found that optimists who started their own businesses were more likely than most to mistakenly think they had found a good business opportunity – and they were more likely to underestimate their probability of failure. Those with above average optimism also earned around 30 percent less than those who were pessimistic. There is an upside to being optimistic though: research has found that being optimistic can increase ambition and persistence, enhances performance, and encourages others to co-operate.