Ready, Set, Go! Some Great Advice About When to Take Action

We recently introduced a new core value at Isos Technology: Bias for Action. The gist of this new value is that we will not always have perfect information, and in instances when information is imperfect, we need to use our intuition to fill in the gaps so we can act.

In his well-known presentation on leadership, former U.S. Secretary of State Colin Powell shared advice about what to do when less than perfect information is available:

"Don't take action if you have only enough information to give you less than a 40 percent chance of being right, but don't wait until you have enough facts to be 100 percent sure, because by then it is almost always too late. Today, excessive delays in the name of information-gathering breeds 'analysis paralysis.' Procrastination in the name of reducing risk actually increases risk."

Powell’s advice, aptly named the 40-70 rule, and our new core value of Bias for Action, share the idea of motion. Rather than wait until the planets perfectly align, if your chance of success is at least 40 percent, take a calculated risk and give your idea a try.

Yet another way of thinking about motion is the Maker Mindset:

"Makers give it a try; they take things apart; and they try to do things that even the manufacturer did not think of doing. Whether it is figuring out what you can do with a 3D printer or an autonomous drone aircraft, makers are exploring what these things can do and they are learning as well. Out of that process emerge new ideas, which may lead to real-world applications or new business ventures. Making is a source of innovation."

Many years ago I was invited to speak to a group of third-year accounting students at Arizona State University. When asked to share my advice about how to have a successful career, my recommendation was that they play. Today, I would modify my advice and recommend that they approach their careers with a bias for action and a Maker Mindset by mastering the tools of their trade, even if not every tool seems to have an immediate, practical application.

Just give it a try. Have a Maker Mindset. Have a bias for action. Ready, set, go!