28 Apr '16, 4am

Startup Words Wednesday: Analysis Paralysis

Startup Words Wednesday: Analysis Paralysis

In this week’s Startup Words Wednesday I’m going to address a phenomenon I frequently see demolishing brick-and-mortar businesses and startups: analysis paralysis. Entrepreneurs, data scientists, domain investors and other key decision makers often want 100% of the information before making a decision. It’s a very rare occasion when this happens and procuring this data is often a waste of time and resources. Jack Welch put it best in his book Winning when he said “Effective people know when to stop assessing and make a tough call, even without total information. Little is worse than a manager who can’t cut bait.” What’s worse is when they work to accumulate all the information, they become even more confused than when they began, all the meanwhile exhausting their available time to act. Analysis Paralysis This occurs when an individual becomes so lost in the process of exa...

Full article: http://morganlinton.com/startup-words-wednesday-analysis-...

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