I’m a big fan of moving fast. I feel very fortunate that somewhere along the way the idea of “taking risks” became one I was pretty comfortable with. While I haven’t always been right (obvioussslyyyyy), I’ve become very comfortable with what I call “my decision making batting average.” This isn’t an entirely new concept, but it is one that I have advised friends to embrace over the years and one that I believe has been a huge advantage for me as an entrepreneur.
The gist is this – you won’t always be right. But you will likely bat an average. The sooner you feel out how comfortable you are with that average, the more you trust yourself, the more honest you can be with those that work with you, and the faster you are at making decisions and providing value.
My batting average is 70%. I believe that if given ten decisions to make, I will likely lead us the right direction 7 out of 10 times. Of course this is high some days (say for example — days I am in my wheelhouse in marketing) and low others (like days that I’m out of my wheelhouse on a new product or something).
But over the years I have settled in at .70 and I dig it. I’m all cozy up in there. Getting comfortable with this has helped me so much. First and foremost I let my colleagues know. I’m up front – hey guys, I chill around .70 most of the time, so you can expect I might screw up 3 out of every 10 times. This sort of transparency builds trust. Trust that I’m not pretending to know it all. Trust that if I screw up, I’ll let you know right away and we’ll correct it. Trust in my abilities to lead us [generally] in the right direction the majority of the time.
These are good things.
Additionally, it gives me a place to jump from. You’ll be amazed at how much more you trust yourself when you spend time nailing down your decision making batting average. Some of you might be cool with .50 – you risky little cats you. These people move real fast, and are totally comfortable hitting it out of the park 1 out of every 2 times. Others might need to be closer to .90, which means you might need more information prior to a decision. It might take you longer to make a decision on something but from that you have higher confidence. The truth is there is a job and place for all of us.
It’s so perfectly hilarious to me that the more comfortable I got with how often I am wrong…the more likely I trust myself and – honestly – the more it helps my average. Confidence in your decision making abilities is a muscle. It can be strengthened. I like to think that with every decision I make, I am actually working that batting average up.
Hopefully this was helpful friends. I know today’s markets and industries place a lot of weight in moving fast and entrepreneurship certainly favors those that trust their intuition. This skill/approach has served me really well over the years. Best of luck to you on finding your average and then hitting it out of the park!