A DIF­FER­ENT VIEW

Good Health (Australia) - - Be Informed -

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.

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