CAUTIOUS PLANNING OR "SCREW IT, LET'S DO IT."

I spent three decades in Corporate America where the guiding philosophy around decision-making and calls to action were "plan - plan - plan." Rushing into action was highly discouraged. I myself have been coaching, consulting, and training entrepreneurs, companies, and non-profits for 15 years on the importance of strategic planning.

And yet...isn't there something to be said about the power of trial and error, and the pursuit of the unexpected? When opportunities present themselves, don't you need to leap into action? And prepare, plan and budget for those unexpected opportunities? Sir Richard Branson famously said "Screw it, let's do it!"

Meaning when an opportunity presents itself, you jump, like the approach of "READY > FIRE > AIM."  In the world of product development, I taught R&D teams and engineers, software developers, and students alike to build a set of core features/functionality demanded by clients (the Voice of Customer) into a minimal viable product. You release the MVP, refine it over multiple iterations & pivots, and continuously commercialize the heck out of the product/service . Think Apple.

Since Covid, I'm amazed how "gun shy" organizations are to make bold decisions and act on opportunities. I see this inaction often, esp. in their approach to their employee engagement, empowerment, and motivation. It's almost NON-EXISTENT. Executives/owners are quick to use the excuse of uncertainty around a potential Recession and overall economic and business climate malaise. But that just smacks of extreme risk aversion and cowardice.

Obviously specific circumstances dictate the approach you take. My question for you is...

Are you risk averse or risk tolerant? Does your personality dictate how you act? I'd love to know your thoughts and personal experiences on this subject.

What's your approach to strategic decision-making?

Ethan L. Chazin, MBA

People Performance Coach

The Chazin Group, LLC