Today I’m sharing more resources to help you make great decisions.
Andy Grove, as I mentioned in the newsletter, is a great resource for leadership and decision making. Read his classic book on business leadership, High Output Management for insights on decision making, innovation, and business execution.
It can be difficult to know how to put yourself in the “knowing what I now know” mindset. This article from HBR explains different ways to get yourself out of a biased mindset
Thinking, Fast and Slow is another great book on decision making. It uses another one of my favorite frameworks for decision making, type one and type two decisions. That framework will help you make decisions more quickly. When you face type two (hard to reverse) decisions, employ KWINK to guide you.
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Clarity Needed Recently, I was having a conversation with a leader of a company in my portfolio. It's a small team doing well in its early days but navigating some inflection points. We were discussing a key team member. She appreciated that he did good work on individual tasks, but she was concerned about some critical decisions he was making and the ideas he was putting forth. His ideas didn't align with her business direction and vision. The team member seemed very excited and couldn't...
Knowing What I Know Now: Making Great Decisions One of my favorite entrepreneurship stories is about Andy Grove and Gordon Moore, the founders of Intel, during a difficult phase of the company's business. Intel had found significant success in the memory chip space. It was a growing market, responsible for most of Intel's profits. However, stiff competition from Japan, among other factors, was beginning to affect profitability. It was getting commoditized. Andy and Gordon were torn. Memory...
The Tuesday Roundup Today, I’ll be sharing some resources to help you match your customer, product, and pricing. Step one is understanding your customer and how they buy. This will require spending a lot of time with your potential customers, or by interviewing and surveying your existing customers. This is a good comprehensive guide by Teresa Torress on conducting great customer interviews to get the insights that you need. You can also get to the answer by studying which kinds of customers...