How to avoid FOBO

Leaders must accept that decisions come with downsides, trade-offs, and the risk of failure. Otherwise, they are too slow to react.

With that acceptance in mind, leaders simply must move forward and make the best decision they can.

In a world where innovation is the currency of effective leadership, indecision can be fatal. Blockbuster, Borders, Blackberry, Yahoo, and others failed to innovate, perhaps succumbing to FOMO, FOBO or both.

FOMO, or the "fear of missing out," has permeated most corners of our popular culture. But rest assured -- FOMO wasn't invented by some Madison Avenue agency. In fact, quite the opposite; the term was created by a Harvard MBA named Patrick J. McGinnis, author of The 10% Entrepreneur.

Howeve...