One of the very best lessons my business school has taught me is to make quick decisions (by the way, I go to Indiana University Kelley School of Business). Why?
First and most important: There is NEVER enough information. You have to accept this. You will always miss an angle, a report or key metric. Once you can accept that you can't get ALL the information to make a decision, you do the next best thing: get as much information you can in a SPECIFIED time frame.
Two: Time is money. Literally. The more time you spend deliberating, the less time you have to execute. While some may say its not wise to rush headfirst into an endeavour you know little about, I think that there comes a physical point in time where you just wont find any extra data.
Three: You need to execute first. There are advantages for executing first whether it is a product or an internal project. You get first strike.
Four: Good ideas with bad execution never succeed. Bad ideas with good execution sometimes succeed. If you are not firm and resolute in your decisions, things will just never happen.
What is your experience with quick decision making versus slower deliberation?
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