Picking up our Best of Killer Innovations series, we examine in detail FOBO and how to overcome mental barriers that can hinder innovation.

The fear of a better option (FOBO) can paralyze decision-making. It is also the enemy of innovation.  In this episode, I share four ways to deal with FOBO.

What is it that causes that hesitation at decision time? Patrick McGinnis calls it FOBO: the Fear of a Better Option. Patrick describes it as “paralyzed at the prospect of actually committing to something, out of fear that we might choose something that was not the perfect option.” The result is that you get stuck in analysis paralysis and never decide. The sister term to FOBO is FOMO, the Fear of Missing Out. If you miss out, you will not have that one magic piece of data that will give you perfect information. So, our fear of missing out feeds our fear of a better option. The result is saying “yes” to everything. I used to say “yes” to every request to speak or teach, no matter the impact on myself or my family.

When you combine FOBO with FOMO, you can be afraid of doing anything. That is FODA, the paralysis that turns into a fear of doing anything. What I had to learn was to say “no.” Breakthrough came when a newspaper article about me forced me to go public with a secret that fed my imposter syndrome.

I deal with FOMO by creating criteria for myself that help me prioritize the requests for my time and attention.

For innovation, deciding to move forward on an idea to commit to resources, such as people and money, is ripe for FOBO. A leader has hesitated to give a team the green light on a project because they are not yet convinced it is the best/perfect idea. No idea is a perfect idea. FOBO could mask a more general fear of failure. But not deciding means zero chance of an innovative idea. The primary objective is to innovate and to do that. It would be best if you tried your ideas. Come to terms with the fact that most of your ideas will fail.  FOBO, fearing a better option, is the enemy of innovation. It is the tool antibodies will use to brush off your ideas.

When you combine FOBO and FOMO, you can find yourself paralyzed, not wanting to commit to anything.

This is FODA, the Fear of Doing Anything. It would be best if you learned to be decisive. Here are four ways to deal with FOBO and not get caught in the trap of FODA:

These four ways to deal with FOBO will help you be aware of your FODA and change.  We will never have perfect information and, therefore, will never make the ideal decision.  So, make your decision and move on.

To learn more about the fear of a better option, listen to this week's show: The Best of Killer Innovations: Dealing with FOBO (Fear of A Better Option).