Most decisions – say 90% – we make in our lives are reversible.
As a general principle for these reversible decisions, I’ve found it helpful to prioritize speed of decision making over accuracy.
This sounds crazy at first – why wouldn’t we try to get decisions right?
It turns out there’s a huge cost in waiting for all the information to appear. So, if we prioritize making the decision quickly instead, we can also go back and change the decision if we see data that tells us otherwise.
Over the long run, two things happen. First, quick experimentation beats deliberation.
And, second, with more repetition, we begin to develop a better gut and nose for the right direction. At that point, decision making speed morphs into decision making velocity (velocity = speed + direction – in this case, a direction that is in the ball park).
Decision making velocity, in turn, leads us to good judgement.