Tag: entrepreneurship

Making decisions

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There are two fundamental flaws in how companies make decisions.

The first one has to do with the amount of information available to make the decision. A balance is needed between decisions made with zero information (“based on my opinion …”, “our manager wants it this way …”, “I strongly believe …”, “it worked at my previous company …”) and decisions made in the pursue of perfect information (“I want to schedule another meeting with …”, “let’s delay this until we get to know …”, “could you please review this one more time?”).

The second one has to do with the duration of the decision taken. The world changes, the information we have available changes, the players change, technology changes. And yet, organisations find it incredibly difficult to say “we were wrong”, or even “let’s try this instead”.

Of course, the first one leads to the second. If the decision was made with zero information, it was a personal decision, and that person (and often the people close to that person) will find it very difficult to change course along the way. If the decision was made after a long process, in search for perfect information, everybody involved got so fed up with going through the details over and over again that most likely they will close an eye and pretend all is ok, rather than start back from scratch.

The trick is having the right amount of people involved in making the decision (make it three to five – never one, never ten) and well defined parameters on which the decision is taken, with checks along the way to see if any of those parameters have shifted.

In all cases, have a process.

Keys and locks

Fabrizio1 Comment

Most people, when starting a relationship, tend to be all about themselves.

Here is what I do, here is what I think, here is where I go, here is what I like.

The hope, in this case, is to have someone on the other side of the table that finds what we have to offer interesting and that is ready to commit to it. It can happen.

The effectiveness of this approach tends to decrease as the relationship develops. And as we are not really talking about amourous relationships (though some basics are similar), even if we attempt to find more people interested and ready to commit, the self-centered tactic is clunky. Seth Godin explains it well when he compares this situation to owning a key and having to go around looking for the lock (or locks) to open.

Alternatively, we could just sit at the table and listen to what the other has to say. Understand their background, what they do, what they think, where they have been, what they like, and where they are headed. See if there’s a match, and if anything of what we’ve heard made us click, go back and continue working to make it work, until next time. In other words, finding the lock and fashion the key (always Godin).

Traditionally, the first is the way of sales and the second is the way of marketing.

I am not sure nowadays the distinction about the two departments should still be relevant (it is in many organisations, unfortunately), but certainly the difference between having the key or the lock first is fundamental when you think about going to market.

It’s the difference between being one of the many and being the only one.

Your choice.

Stay present

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If you get to a point where you decide to quit, for any reason. Or you are in a situation where you are asked to quit. Or you get rejected over and over again.

What are you going to do?

It’s very natural to want to burn down bridges, move to the mountains, and dedicate the rest of your existence to monastic life. It’s the fetal position that many of us can relate to: we have invested, we have collected less than we believe was due, we feel pain and disappointment, and we want no more of that in our lives.

Yet, after the heat of the moment is gone, the consequences of the choices we have made will stick. If we have shouted, cancelled, smashed, abandoned, insulted, publicly stated that we are done with this and that. All this, will stay.

So, if you quit, are asked to quit, or get rejected. Stay present. It will spare you a lot of time and energy that you can put towards planning and executing what’s next.

Off the road

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If you play on trite stereotypes, and execute poorly, marketing can easily backfire.

When you take it off the road, on the other hand, you can have fun with it and entertain people.

It’s mainly a matter of personality.

Northern Star

FabrizioLeave a comment

When you get close to the target, it’s very easy to lose view on the big picture. You focus on the minutiae and details, preparing for the big moment of truth, sure it’s just a matter of time.

A little more to the right, apply just a tiny more pressure, why the heck it’s not working, if only I would have a different tool, a different team, and so on.

That’s the time you need to go back to your Northern Star. The reason why you are doing what you are doing, your motivation, your vision, your purpose.

Only thay will unlock it and get you there.