Good decision-making takes us half-way to success, but too often we jump to “making the right decision” without first thinking “which decision we must get right”.
In business and life, we face hundreds of choices varying in importance and complexity. It’s best to start with figuring out where to focus efforts.
The power law and 50-1 rule (https://lnkd.in/gyngg8i) guide us:
· DIE IN THE DITCH to get the critical 1% right. Often there are few fundamental choices that set direction. These strategic hard-to-reverse decisions can range from go-to-market (eg which product to develop) to back-of-house (eg which core IT platform to select).
· DON’T SCREW UP 19% that matter. Once the direction is set, the second layer of decisions can either keep you on track if “ballpark right” or take you off-piste if botched. These are enduring choices (eg which product features to add or which software to customise vs use out of the box) and deserve some effort.
· DON’T SWEAT OVER 80% of the decisions that won’t move the needle. They shouldn’t be neglected, but invest just enough to stay out of trouble – delegate, pick default, automate, etc.
Identifying and articulating that 1% takes experience and “horsepower”, but that’s for another story…
Agree / disagree / reflections? 👇