From the course: Acting Decisively
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Be decisive in difficult circumstances
From the course: Acting Decisively
Be decisive in difficult circumstances
- One of my favorite quotes is by Theodore Roosevelt, the former US president, he said: "In any moment of decision, the best thing you can do is the right thing, the next best thing you can do is the wrong thing, and the worst thing you can do is nothing." But frankly, sometimes being decisive is easier than others. There are three situations that cause decision-making to be especially difficult: when you have ambiguous or insufficient data, when you have way too much data, and when you're under serious time pressure. Here's how to tackle those challenges. First, there are times when you'll have ambiguous or insufficient data. Let's say you conducted two pilot programs of your new product. The one in Atlanta went great and the one in Baltimore tanked. What do you do? In many ways, it's a simple formula. If you have some time, get more data. Two cities may not have been sufficient, but if you tested in half a dozen,…
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