Jeff Bezos famously said in an interview, that if you have more than 70% of the data that is required to make a decision, you are too slow.
Mark Zuckerberg's famous, "Move Fast and Break things" is another variant of the same ideology.
Where does Deep analysis make sense and where does fast iteration work better? This is a conversation that I've had with many entrepreneurs during my consult sessions with them.
The first step is simple.
Is the decision that you need to make, a reversible one or an irreversible one?
If it is a reversible one, don't think too much into it. You don't need to spend an entire hour deciding which flavor of ice cream to get, if the one you pick isn't great, you can avoid it and pick another flavor next time.
There is also a way to structure irreversible decisions into reversible ones - like instead of giving a prospective hire a job right away, taking them on board as a consultant (if they are C level) for a few months, or having them in a probationary period, and having a vesting period for the equity, gives you a chance to reverse the decision, in case it is not what either of you wanted.
When it comes to the bigger picture, think deeply - and more than that, analyze and understand the landscape before you get into it. Whether you are starting a new company, or building a new product for a different market, deep thought helps - because it helps you get a sense of the landscape.
Once you are in it, both strategy and tactics will iterate over a period of time.
Validate your vision with deep analysis. Execute it with fast iteration.
#Idea of the Week: Upcycling Food Waste
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