There’s a temptation amongst new entrepreneurs to want to offer lots of options to their potential customers
They do it for what seems like a great reason on the surface: to better satisfy their consumers, meeting the needs of more of them.
Even if someone does choose amongst a larger assortment, they’re more likely to regret their choice because they’ll wonder about the ones they didn’t choose.
These findings come from a plethora of scientific studies about choice and human behavior. And, it’s best represented by a classic study from 1995, called the Iyengar Jam Jar study.
Here are two fantastic articles on the subject.
- New York Times: Too Many Choices – A Problem That Can Paralyze
- Harvard Business Review: More Isn’t Always Better
As new entrepreneurs, when we’re just getting started, it’s critical to be loud and proud about a singular story, so that you have a clear marketing message and can communicate value without ambiguity.
Starting and growing a business is not a straightforward and linear process. It can feel messy. It zigs and zags. It starts and stops. It can feel frustrating even for the most seasoned business owners. And, that’s ok. It’s also an exciting challenge. It’s going to stretch you. You’re going to learn a lot – not just about business, but about yourself. And, that’s why it’s worth it.