Scott Berkun just posted about situations in life where good data is impossible, which reminded me of a quote I’ve been meaning to share.
I once went to a talk by Bob Sutton where he cited a quote by Andy Grove, CEO of Intel:
“I think it is very important for you to do two things: act on your temporary conviction as if it was a real conviction; and when you realize that you are wrong, correct course very quickly.
Investment decisions or personnel decisions and prioritization don’t wait for the picture to be clarified. You have to make them when you have to make them. You take your shots and clean up the bad ones later.
(So you have to keep your own spirits up even though you well understand that you don’t know what you’re doing)”
I think this is one of the hardest things to learn as I progress in the business world – many situations I’m asked to handle are novel, because routine decisions are handled by bureaucracy in the form of established processes or at a more junior level. Taking action when I know I don’t have enough data requires a leap of faith that I’m best positioned to make a decision anyway.