Jeff Bezos talks about Type 1 and Type 2 decisions. Type 1 decisions are irreversible-you need to be careful. Type 2 decisions are reversible-you should move fast.
Most decisions are Type 2. But we treat them all like Type 1.
The Cost of Slow Decisions
Slow decisions have a hidden cost: they block everything downstream. Your team waits. Momentum dies. The market moves.
And here's the thing: a good decision made quickly is usually better than a perfect decision made slowly. Because you get to learn faster.
My Framework
Ask: "What's the worst that happens if I'm wrong?"
If the answer is "we can undo it" or "we learn something valuable"-decide now.
If the answer is "the company goes out of business"-that's when you slow down and gather more data.
Speed matters. But so does knowing which type of decision you're making.