Rare in business is certainty…about anything.
If you’re moving fast, you’re going to be out ahead of your understanding of the facts.
Will the new marketing work?
What will revenue be in six months?
Which way is the market going?
I don’t know.
And you don’t either.
When I was 28 and a new CEO, this bugged me. I froze up on simple decisions because I thought I needed more information. (I soon learned that “more information” isn’t coming and even if it did, it never helps much.)
Then I found three little questions to speed up decisions when the facts are unknowable…
1. What’s the worst that can happen? (If you can live with the worst, why not proceed…)
2. Where’s the exit? (If things don’t go as planned, how ya’ gettin’ out…)
3. If the stars aligned and we hit it out of the park, what’s the reward? (Is the best possible result, worth the effort…for most ideas the answer is no. This is the antidote for doing too much and getting too little in return.)
Faster Decisions ==> More Experiments ==> Faster Growth
photo, originally in color, courtesy of: Tammy Lo