There is a saying "Decisions made in real-time are never perfect. Never second guess them sitting in an arm chair" and it is very apt in the world of entrepreneurship. Since the day I founded faqden labs, I have been making decisions every second, many a times with almost no information and just based on gut feeling. I do get asked sometimes to justify why I am making a particular choice over the other, and I struggle to put it in words and the fact is there is no real justification.
Startup is like a battle field, you do not have all the information, but at the same time you do not have the luxury to wait for situation to get clearer. The opportunity will pass you by. The best thing you could do is take shot and go with your instinct when u are small. The opportunity cost of not doing anything is higher than taking a decision and not really succeeding at it.
Obviously this strategy should change as you start to grow. The decisions should be based on data and not only instincts. In leadership roles, instinct will always play a role, but as the company grows the balance tilts towards the data more.
Startup is like a battle field, you do not have all the information, but at the same time you do not have the luxury to wait for situation to get clearer. The opportunity will pass you by. The best thing you could do is take shot and go with your instinct when u are small. The opportunity cost of not doing anything is higher than taking a decision and not really succeeding at it.
Obviously this strategy should change as you start to grow. The decisions should be based on data and not only instincts. In leadership roles, instinct will always play a role, but as the company grows the balance tilts towards the data more.
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