In a public interview, billionaire Elon Musk once shared a concept that sounds simple but has tripped up many entrepreneurs: wishful thinking.
He explained that many of us fall so deeply in love with our own ideas or products that we stop listening to reality—we ignore feedback or even fear hearing the truth. Musk admitted he himself has fallen into this trap more than once. He called it one of his biggest recurring mistakes:
“You want something to be true, even when it’s not. And so you ignore reality because of what you want to believe.”
This isn’t uncommon. Businesses often pour their hearts into a new dish, a unique service, or an innovative concept. But sometimes that passion blinds us—we skip market research, dismiss customer feedback, or brush aside advice from others simply because we want our idea to work.
I remember once talking with a friend who owned a small sweater factory and wanted to sell her clothes to budget-conscious buyers in Atlanta. I told her it would be tough—knitwear and jeans are extremely competitive in the U.S. market. American brands already have the advantage of established names, supply chains, and logistics.
Plus, in Atlanta, you can easily walk into Marshalls, TJ Maxx, or Burlington and find all kinds of stylish winter sweaters at very affordable prices. Shipping alone would also be complicated and expensive.
But my friend didn’t want to hear it. She believed that having her own factory and producing original designs would give her an edge. The reality, however, was far from her expectations—sales turned out to be much lower than she had hoped. It was a clear example of the wishful thinking Musk warned about.
How to Avoid This Trap
Musk once said:
“You have to ask yourself, ‘I really want to know the truth.’ And it helps to accept that you’re probably wrong to some degree. The way out is to actively seek critical feedback—especially from friends who genuinely want you to improve.”
For Vietnamese-owned businesses, here are a few practical steps:
1. Listen to data, not emotions
Don’t rely on “gut feeling.” Survey at least 20–30 potential customers before launching a product.
2. Accept uncomfortable truths
When someone says your product isn’t convenient enough, don’t get defensive. That feedback is a gift—it helps you improve.
3. Test small before going big
Before printing 10,000 menus, try 100 and gather feedback. Before opening a new branch, run a small “pilot” for one or two months first.
4. Seek mentors or peers who can challenge you
Creators often become blind to their own work. An outside perspective can reveal what you can’t see yourself.
Final Thoughts
Musk once said:
“This is a very hard trap to avoid… and the goal is simply to be wrong less often.”
Even the most successful entrepreneurs stumble into wishful thinking at times. The difference is that they face reality, admit mistakes, and correct them quickly.
For the Vietnamese business community in Atlanta, the lesson is clear: it’s okay to start with optimism, but let data and market insight guide you forward. Believe in your idea—but listen to what the market is telling you.
That’s how we grow sustainably, instead of stumbling over the same trap of wishful thinking.
