Embracing Uncertainty in Entrepreneurship Pedagogy | Reaction Wheel

In Productive Uncertainty , Jerry Neumann wrote that “the only moat that can create excess value for a new startup is uncertainty” because “uncertainty keeps competition at bay long enough for a moat to be built.”

This effectual approach contrasts with the causal approach, which focuses on the lack of resources, views entrepreneurship as a zero-sum game, makes decisions based on hypotheticals and accounting, sees out-of-the-box events as problems, and attempts to predict and control the future at all costs.

The key takeaway is not to strive for perfection but

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