Break down decisions into smaller pieces.
In all of my businesses, we move fast and make decisions even faster. But we make calculated decisions. We break down big decisions into several smaller decisions so that we can test, evaluate and modify if need be.
If it involves a new product or service, we’ll look at historical data from similar product or services we have created, break it down into the minimal viable product that we’d need in order to test it, and then poll our customer database to test our idea. If it’s a new marketing campaign, we’ll just split test it against a winning campaign for a minimal investment before launching it.
By breaking decisions down into several smaller decisions, it reduces our risk and allows us to adjust quicker.