In tech, speed is seen primarily as an asset in product development. Hence the “move fast and break things” mentality, the commitment to minimum viable products and agile development. Many people would agree that speed and agility are how you win when it comes to product.
Through a prolonged, proactive effort to develop these good habits, we can convert ourselves as founders, executives and employees to be faster, more efficient company-building machines. And, when enough members of a team exhibit this set of habits, and are rewarded with reinforcement, compensation, and promotions, the organization itself will gain velocity.
he process of making and remaking decisions wastes an insane amount of time at companies. The key takeaway: WHEN a decision is made is much more important than WHAT decision is made.
If, by way of habit, you consistently begin every decision-making process by considering how much time and effort that decision is worth, who needs to have input, and when you’ll have an answer, you'll have developed the first important muscle for speed.
This isn’t to say all decisions should be made quickly. Some decisions are more complicated or critical than others. It might behoove you to wait for more information. Some decisions can’t be easily reversed or would be too damaging if you choose poorly. Most importantly, some decisions don’t need to be made immediately to maintain downstream velocity.
Today at Upstart, we’re a much smaller company, and we’re making decisions that matter several times a day. We’re deeply driven by the belief that fast decisions are far better than slow ones and radically better than no decisions. From day to day, hour to hour, we think about how important each decision is and how much time it’s worth taking. There are decisions that deserve days of debate and analysis, but the vast majority aren’t worth more than 10 minutes.