Challenging the 'Move Fast' Mentality in Decision-Making
As business leaders, we're often encouraged to move quickly, to take decisive action, and to be fearless in the face of uncertainty. In the tech industry, especially, the mantra of "moving fast" has become synonymous with progress and innovation. While this mindset can be helpful in some situations, it's important to recognize that not all decisions are created equal. In fact, moving too quickly can sometimes lead "trapdoor decisions"—choices that are easy to make but difficult and painful to reverse.
To better understand the types of decisions we face in business, let's consider a simple 2x2 matrix. One axis represents the difficulty to change a decision (low to high), while the other axis represents the importance of the decision (low to high). This model helps us classify decisions into four distinct quadrants:
- Low Importance, Easy to Change: These are the decisions that don't have a significant impact on your business and can be easily reversed or altered. Examples might include choosing office supplies or planning a team-building event. While these choices can have a small effect on your team's morale or productivity, they're generally not make-or-break moments for your organization.
- High Importance, Easy to Change: These decisions are crucial to your organization, but can be quickly adjusted if necessary. For example, setting quarterly goals or selecting a marketing strategy can have a significant impact on your organization's success, but they can be modified relatively easily based on new information or changing circumstances. In these cases, moving fast can be beneficial, as it allows your team to be agile and responsive to change.
- Low Importance, Hard to Change: These decisions don't carry much weight in terms of overall business impact but are difficult to reverse once they're made. Examples include signing long-term leases or making sizable investments in non-essential equipment. These types of decisions may not have a huge effect on your organization's success, but the difficulty in reversing them means you should still approach them with care and consideration.
- High Importance, Hard to Change: This is where trapdoor decisions reside. These choices are critical to your organization's success and are not easily undone. Examples might include hiring key executives, entering new markets, or making significant technological investments. Because the stakes are high and the potential consequences long-lasting, it's essential to approach these decisions with caution, even if it means slowing down the "move fast" mentality.
The tech industry's emphasis on speed can be an asset in certain situations, but it's crucial for leaders to recognize when a more measured approach is necessary. By being mindful of the different types of decisions we face and the potential risks associated with trapdoor decisions, we can strike a balance between agility and careful deliberation.
Ultimately, avoiding trapdoor decisions comes down to understanding the potential costs and implications of each choice we make. As leaders, we must learn to balance the need for speed with the wisdom to recognize when to pause and thoughtfully consider the long-term effects of our decisions. By developing a keen awareness of the different decision quadrants and the potential consequences of our choices, we can better navigate the complex landscape of business decision-making and set our organizations on a path to success.
