Want faster time-to-market? Increase your decision-making speed!
Many delays in building products come from long decision-making processes. In this time and age, hardly any company can afford to have a slow decision-making process.
Some factors slowing down decision making are:
🐌 Centralized decision-making
🐌 A bad failure culture
🐌 Product and workflow complexity
🐌 Unclear goals
🐌 Lacking focus
If every decision has to travel up the hierarchy, is assessed by a committee not in direct contact with the actual work, has been sitting around for weeks therefore not representing the latest information, is mixed with countless other decisions made by people fearing to make the wrong decision based on unclear goals, it is no wonder it takes so long.
Slow decisions mean slow reactions, slow innovation and ultimately loss of business.
To increase your decision-making speed, consider:
👉 Empowering people to make decentralized decisions
👉 Establishing a healthy failure culture
👉 Having & communicating a clear vision
👉 Decreasing product complexity (yes, remove features!)
👉 Focusing on few things at a time
👉 Providing psychological safety
Some might call this agile or lean or just common sense. Anyway, these things will help you make faster decisions.
Faster decisions mean faster time-to-market means more value for more customers means more successful business