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Fail fast to succeed in decision making

Fail fast, fail often is a classic mantra from lean and agile coaches. It encourages exposing your products early to an audience, who might cherish them or shoot them down. This allows you to get early feedback and limit sunk costs by killing products or feature development earlier in their life. A similar term is used by authors and playwrights: “kill your darlings” (or one of a thousand variations), meaning you should not fall in love with your ideas too much, or they will consume you. The comparison can also be drawn to the myth of Narcissus, who was so in love with himself that it eventually killed him.

The point is: ideas, products, stories and people don’t live in a vacuum. Something valuable to us might be completely worthless to most others. If we want to be fiscally responsible, we should be able to kill any idea we have as soon as we are able to deem it unprofitable – no matter the sunk costs. It can be emotionally hard, which is why companies like Supercell have adopted celebrating failures because they are critical for learning. The philosophy is: If you want to succeed, you have to take risks. If you take a lot of risks, you fail more often than succeed. By celebrating the failures, they celebrate the opportunities to learn from taking more risks.

Decisions – not so different from concepts

I would argue that fail fast, fail often is a good principle to follow for decision making as well. A decision is, at its core, the manifestation of an idea, friction or problem, with a change intent. Like a new product, a decision changes the way we do things or creates entirely new things to do. Decisions in business might be hiring new personnel, outsourcing a support function, acquiring a competitor, or, ironically, shutting down a development process or product line.

While some say you should decide as late as possible, nothing prevents you from sharing the decision process from the moment of the idea. Sharing is often scary, but we might do it sooner rather than later just to get the first impression from peers. Their input is crucial to give us a sense of value for our proposal, or to kill the decision early and free time to more beneficial things. A decision killed is a decision made.

Learning from failed decisions

While a decision doesn’t need to fail to be a learning experience, failed decisions often have more to learn from. They uncover our biases, false assumptions and improve our understanding of what people value. From a killed decision, we can wonder whether the entire idea was invaluable, or just our solution, and iterate towards a better one.

Decisions are not so different from new product or service concepts. A perpetual cycle of rapidly testing the waters and killing decisions we have any doubts about forces us to focus on better ones. Instantly we can start making less, but better decisions. In the long term, we waste less time starting and sinking costs into bad decisions and enjoy the fruits of high-quality decision making.

Fingertip is a methodology and mindset of collective decision making, where anyone can share their decision ideas. You can use Microsoft Teams to involve early input in new decision ideas from the start and iterate towards the last possible decision making time. Make better decisions and grow your business with Fingertip.

Attention!

Fingertip enables agile feedback for decision making and strategic processes. Read more how Fingertip enables you to take back control using Microsoft Teams:

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Riennämme nyt laatimaan sinulle tarjousta. Saat sen viimeistään huomenna tai heti kohta viikonlopun jälkeen.

Sillä välin voit tutustua videopankkiimme tai lukea johtamisen taidoista.

Terveisin,
Sanna, JP ja Milla

P.S. Jos tarjousta ei kuulu, tarkista roskapostilaatikkosi. Ellei sieltäkään löydy, kilauta tai chättää rohkeasti meillepäin.

Strategiaryhmän käyttöönottopaketti

  • Strategisten tavoitteiden ja hankkeiden mallintaminen Teamsiin ja Fingertipiin
  • 3 valmentavaa johtamisen palvelumuotoilutapaamista strategiaryhmän kanssa
  • Omat strategian jalkautuksen pelisäännöt

Ensimmäinen vuosi Kasvuryhmäläisille vain 9 900 € (norm. 19 900 €), jos aloitatte Fingertipin käytön 15.1.2023 mennessä.

Saisinko tarjouksen Fingertip for Teams –ratkaisusta strategiaryhmämme käyttöön seuraavin speksein:

    *Organisaatio:

    *Organisaation koko:

    *Johtoryhmän koko:

    Terveisin:
    *Nimi:

    *Titteli:

    *Työsähköpostiosoite:

    Puhelin:


     

    Power Apps and Teams the winning platform for low code enterprise solutions

    Power Platform is the low code platform that enables almost anyone start creating workflows and programs in Microsoft's ecosystem. Gartner recently announced an estimate, that 70% of enterprise software would be built in low code or no code by 2025. Additionally, 97% of the Fortune 500 are utilizing the Power Platform to boost their business processes.

    In this speech, our CEO Jaakko Pellosniemi will dive into the capabilities of low code, and tell the story of how Fingertip took the low code approach with the Power Platform to create an entire product and a business model that can be scaled.

    Come see it live at the Microsoft Corner of Slush, on Thursday the 17th of November at 12:30, and on Friday the 18th of November at 11:30.

    Hybrid era leadership - better way to lead in Microsoft Teams

    The latest Work Trend Index by Microsoft discovered an alarming fact in hybrid and remote work contexts. There's a great disparity in the self-reported productivity of knowledge workers (87% report being productive) and leaders' trust in their emploees' productivity (12% have faith their people are productive). Microsoft has dubbed this phenomenon as the 'Productivity Paranoia'.

    Thus we've seen many companies plead to their employees to return to the office (latest notable being Twitter after Elon Musk takeover). Many of those who have gotten used to the new normal are not caving in, and rather choose to employ themselves elsewhere to be able to enjoy the perks of remote working.

    There's also another way. Fingertip bridges the productivity gap between employees and leaders with a transparent, accountable, collaborative and documented platform that integrates to Teams. Our CEO Jaakko Pellosniemi will digest the productivity paranoia and the way Fingertip solves it while catering to the needs of each stakeholder in the equation.

    Come see it live at the Microsoft Corner of Slush, on Thursday the 17th of November at 15:00, and on Friday the 18th of November at 15:30.

    Saisinko tarjouksen Fingertip for Teams –ratkaisusta strategiaryhmämme käyttöön seuraavin speksein:

      *Organisaatio:

      *Organisaation koko:

      *Strategiaryhmän koko:

      Terveisin:
      *Nimi:

      *Titteli:

      *Työsähköpostiosoite:

      Puhelin:

      Lähettämällä viestin, hyväksyt Fingertipin tietosuojalausekkeen (ENG) ehdot.
      Vastaamme kaikkiin pyyntöihin 24 tunnin sisällä.


       

      Saisinko tarjouksen Fingertip for Teams –ratkaisusta johtoryhmämme käyttöön seuraavin speksein:

        *Organisaatio:

        *Organisaation koko:

        *Johtoryhmän koko:

        Terveisin:
        *Nimi:

        *Titteli:

        *Työsähköpostiosoite:

        Puhelin:

        Lähettämällä viestin, hyväksyt Fingertipin tietosuojalausekkeen (ENG) ehdot.
        Vastaamme kaikkiin pyyntöihin 24 tunnin sisällä.


         

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