Remember Star Wars?
Trust your instincts Luke! Use the force!
Managers often rely on crunching too many numbers and looking at too many points of view before making a decision. Sometimes it is hard to decide upon anything if you have analysis paralysis. Is it good to crunch numbers or rely on your instincts? Or both?
In my experience, analysis is a good idea, but is not a substitute for trying things out to see how they work in real life. Tuning into your instincts is also very important in business. If you see the right signs, maybe it is time to move forward.
The real question is, which business decisions to you leave to intuition, and which do you leave to endless analysis? Last minute quick decisions need to be made fast. They are time sensitive. You don’t have time in your day to ponder, and regurgitate analytical thoughts. On the other hand, long term strategy can be slowly molded and assessed, reassessed, and philosophized about.
Sometimes it is good to stay up late at night and think deeply about business. Instead of getting caught up in work, take an hour or two and really go over your main strategical issues for the quarter or the year. Too much work and not enough deep thought is bad. Too much thinking and not enough getting things done is even worse!
To sum it up. I would say that you need a very comprehensive algorithm to tell you which decisions you need to make by instinct and which you need to do the “analysis paralysis thing.”
Tweets:
(1) It’s hard to decide on anything if u have analysis paralysis. Is it good to crunch numbers or rely on your instincts?
(2) Should you over-analyze or trust your instincts? Use the force Luke!
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