- Steven Woda
TheFunded.com: Indecision Kills: a Decision Making Framework for Startups
When you ask a successful entrepreneur how they did it, you are almost guaranteed to hear them cite “luck” as a prominent factor. Why? Because most major decisions in a startup are "life or death," and to succeed you need to make the correct call on many of these decisions. In such a context, survival and success appear lucky. Well, it's not. With startups, being fast is actually better than being right. A founder needs to make hundreds of critical decisions, and any indecision can literally grind all progress to a halt. Hesitating, over-analyzing, or 'waiting to see what happens' are all forms of indecision, and when you are indecisive you let the world decide the outcome for you. Indecision leaves the outcome to chance, and your chances as a startup are bad to begin with. Making decisions that are both fast and correct is no small feat, and is a skill that will develop over time, but here is a simple decision-making framework that I use to make decisions quickly. Indecision is death for a startup, so here's how you can avoid it;
A great post about startup decision-making on one of my favorites sites on the Web, The Funded (http://www.thefunded.com).
If you are an entrepreneur, a) read the article, and b) register with The Funded.