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Moving Fast and Slow: A Smarter Framework for Decision-Making
- Startup founders often struggle with the balance between moving fast to stay ahead and moving slow to avoid costly mistakes.
- Amazon's 'One-Way vs. Two-Way Doors' framework helps evaluate decisions based on the nature and impact of the decision.
- Decisions are categorized into Two-Way Doors (reversible) and One-Way Doors (irreversible) to determine the speed of decision-making.
- The framework is enhanced by considering the impact of decisions, resulting in a 2x2 decision-making matrix.
- Decisions that are low impact and reversible should be made quickly without excessive analysis.
- Even low impact and irreversible decisions should be made swiftly due to their low stakes.
- High impact and reversible decisions require thoughtful consideration but should not lead to decision paralysis.
- High impact and irreversible decisions demand thorough analysis, alignment, and patience before moving forward.
- Encouraging strategic speed in decision-making involves prioritizing speed where beneficial, reducing risk on high-stakes decisions, and empowering teams to act autonomously.
- Establishing guardrails for high-stakes decisions and avoiding 'Paralysis by Analysis' are crucial in implementing the framework.
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