“It’s not about how hard you hit; it’s about how hard you can get hit and keep moving forward.” – Rocky Balboa
Decision-making is an art, a delicate dance of intuition, data, and courage. For entrepreneurs, every decision carries weight, influencing the trajectory of their venture. And more often than not, these pivotal decisions are shrouded in layers of uncertainty.
Reed Hastings, co-founder and CEO of Netflix, offers a compelling anecdote. In the company’s early days, Netflix was a DVD rental-by-mail service. It was a concept that was working, and gaining traction. However, Hastings foresaw a digital shift on the horizon. Instead of clinging to the status quo, he made a bold decision to pivot Netflix towards streaming, even before streaming was a household term. This leap into the unknown, taken amidst uncertainty, shaped the Netflix empire we are familiar with today.
Uncertainty is inevitable, but stagnation is a choice. Entrepreneurs often don’t have the luxury of complete information. In such scenarios, waiting for the perfect dataset or the “right moment” might be the riskier move. Proactivity, combined with agility, often yields the most fruitful results.
Action Step: Reflect upon a decision you’ve been hesitant about, perhaps due to the ambiguity surrounding it. Equip yourself with available data, assess the potential risks, and then, take that step. Remember, every decision gives you feedback, and feedback is the cornerstone of growth.
In business, decisive action becomes a cornerstone for success. Even amidst uncertainty, it’s our actions that carve the path ahead.
To learn more about decision-making, and to refine this skill, be sure to check out our book of the week “The Hard Thing About Hard Things” by Ben Horowitz.