Today I’m sharing a couple personal anecdotes around the idea that indecision and analysis paralysis can kill you as an entrepreneur.
- Not firing quickly enough [01:18]
- When I took over this company, we had to fundamentally shift our business model, so some people who used to be a fit didn’t make sense to keep around anymore. I didn’t have the heart to fire them, but in reality I was hurting the individuals by holding them back and hurting the company.
- Not pivoting fast enough [01:59]
- Even though I did fundamentally shift the business, I took way too long to do it. Not pivoting fast enough can really kill a business because you lose a great amount of time and money. Everything gets slowed down and it kills your momentum.
- Ultimately, indecision is analysis paralysis. [02:29]
- You over-think goals and key metrics. Ultimately, it’s best to simplify things and pick what you feel is the highest-impact decision and go after it: all the analysis in the world won’t get you anywhere if you don’t take action. Even if you make a mistake, you can learn from it and keep pivoting.
Leave some feedback:
- What should I talk about next? Please let me know on Twitter or in the comments below.
- Did you enjoy this episode? If so, leave a short review here.
- Subscribe to Growth Everywhere on iTunes.
- Get the non-iTunes RSS feed
Connect with Eric Siu: