Make decisions with incomplete information
One of the most challenges aspects of entrepreneurship is that information will never be complete. We can strive to understand the market, but it's always going to be ambiguous. Even for more practical aspects, such as choosing a specific technology, the color of a product, or committing to a marketing strategy.
We may do our best to limit the risks, but we can't keep exploring all the alternatives before committing to a decision. This can create problems internally (see: literature/202210011658 The Five Dysfunctions of a Team).
I believe that success may depend on taking a good decision as fast as possible, with little need for extra information. It may be gut feeling, or a special sense for what's up. It can also be better flexibility to let previous decisions go as soon as proven incorrect. In any case, all the approaches prevent the indecision freeze.
Backlinks
These are the other notes that link to this one.
Comment
