Company
Date Published
Author
Wal McConnell
Word count
1523
Language
English
Hacker News points
None

Summary

Your decision-making process is slowing you down. Speed is every startup’s biggest competitive advantage, and quick decisions get a bad rap. However, effective, quick decision-making is a skill that can increase agility, energy, and momentum within any team. Recent research has helped sharpen the thinking on this process, and it's essential to identify what information to use as inputs and improve the way decisions influence outcomes. The intuition, experience, and motivations of the decision-maker are critical inputs, playing a purposeful consideration about how each type of information drives towards making the best decision in the shortest possible time frame. A great decision-making process empowers this. To become better, faster decision-makers, start with these principles: know your problem, avoid large decisions, make a decision as early as possible, continuously review assumptions and blind spots, define the dilemma, identify your default decision, gather more evidence if needed, choose from options based on opportunities and risks, and review the decision. The six-stage process includes defining the dilemma, identifying the default decision, gathering more evidence, identifying decision choices, making a decision, and reviewing the outcome and decision. Great decision-makers move quickly by relying on trends, indicators, and experience, focusing on many small decisions, experimenting to make sure they're right more than wrong, and developing processes to course correct and learn when things don't work out as expected.