Jeff Bezos explains the perfect way to make risky business decisions - Deepstash

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Jeff Bezos explains the perfect way to make risky business decisions

businessinsider.in

Jeff Bezos

"Most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you're probably being slow."

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Not Just Speed

It isn't just about making fast decisions.

The challenge is to make informed, high-quality decisions, with inadequate or incomplete data, and do it fast.

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Correcting Bad Decisions Fast

Stay flexible and be prepared for a speedy course correction of things that break down with a bad decision.

Get comfortable with uncertainty, and master the art of quickly recognizing, and correcting bad decisions.

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Being Wrong 

It is better than nothing. Being slow leads you nowhere but being wrong while moving fast can lead you somewhere eventually.

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