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Jeff Bezos explains the perfect way to make risky business decisions

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."

Jeff Bezos

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Jeff Bezos explains the perfect way to make risky business decisions

Jeff Bezos explains the perfect way to make risky business decisions

https://www.businessinsider.in/tech/jeff-bezos-explains-the-perfect-way-to-make-risky-business-decisions/articleshow/58156477.cms

businessinsider.in

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Key Ideas

Jeff Bezos

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."

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.

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.

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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“Risky” behavior you should consider
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“First, never underestimate the power of inertia. Second, that power can be harnessed.” 

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