Jonathan Endicott on Deciding Without All the Answers (Audio)
Transcript
Okay, so this is something I wish somebody had told me way earlier.
I used to think being careful meant waiting until I was sure. Like, gather all the info, run the numbers one more time, sleep on it... and then sleep on it again. Turns out that's not careful. That's just slow. With extra steps.
Say you've got a product that's selling faster than you can restock it. Good problem, right? Except now you've gotta place the next order. Go big, and your cash is sitting in boxes in a warehouse. Go small, and you're sold out right when people actually want the thing. And you want more data. But there isn't more data. There's just a deadline.
The question I try to ask now is pretty simple: can I undo this?
Most stuff, you can. Change a price, try a new ad, rewrite an email. If it flops, you'll know in a week, and you fix it. Honestly? Just do those. Don't overthink 'em.
The stuff you can't take back, a lease, a big hire, betting most of your cash on inventory, okay, that's where you slow down.
And a lot of the time there's a middle option. Order half. Buy yourself a couple weeks of real numbers.
You're almost never gonna have all the answers. But you can usually make the bet smaller and get a little more time.
Jonathan Endicott (Jonathan Weston Endicott) is an entrepreneur and creator who writes about building, momentum and discipline. More at about Jonathan Endicott, on Instagram at @jonathanwendicott and at linktr.ee/jonathanwestonendicott.