Recently I was talking to a friend and he said he had no interest in being an entrepreneur. Curious, I asked why. There was one simple reason: he didn’t like to make decisions with limited information. As an entrepreneur, so many decisions have to be made with little or no data and lots of gut instinct. For many people, especially perfectionists, making those kinds of decisions over and over is terrifying.
For me, I like to keep in mind that I’m trying to make a good decision, learn from it, and move forward. Here are a few thoughts on entrepreneurial decision making:
- Perfect information never exists, never
- Limited information is normal, and often good enough to make quality decisions
- Almost all decisions aren’t permanent (thankfully!)
- Constantly learning and adapting is key to get to the right answer
- Moving forward is better than standing still
When the next decision is required on limited information, make the call, learn from it, and move forward. As General Patton said, “A good plan violently executed now is better than a perfect plan executed next week.”
What else? What are some more thoughts on making decisions, learning, and moving forward?