- I was interested in decision-making even before I joined YayPay in 2016. When I joined, I thought I would get a chance to practice my decision-making skills there daily, that this is going to be about the quality of decisions we make. You know it's coming - I was soooo wrong about it. 🤦🏼♂️
- That's because my idea about making decisions was to maximize the quality of those. And one of the core lessons I learned during this journey is that the quality of the decisions matters much less than the speed of making them. To put it another way, you are better off making a good and quick decision 🏎️ than a perfect but slow one 🐌**.**
- Why so, you'd ask? Remember this Cynefin Framework post? From the perspective of this framework, building a startup is mostly happening in the Complex domain, which means that the cause-effect relationships are only apparent in hindsight. This also means that the best way to behave is to set up many quick experiments and see how it reacts. And that's exactly what needs to be done, at least at the beginning of the journey.
- Also, speed is critical because the First Mover Advantage (gaining a competitive advantage by being first on the market with a product) impacts general startup trajectory and fundraising. 🥇
- In summary - don't worry about making the best possible decision while building a startup - otherwise, you will be stuck in analysis paralysis forever. Instead - develop a skill of making good and quick decisions, and iterate on those quickly. And don't feel bad about it. ✌️