We Don’t Become “Right” – We Become “Less Wrong”

It’s easy to forget, but very important to realize, that when we make a business strategy decision at an early stage, we’re rarely all of a sudden “right.”

We may be on the right path, but it’s unlikely (and perhaps impossible) that we have found the end-all-be-all solution or strategy.

In other words, even when we make a good decision, we’re not “right” in the conclusive sense of reaching a final, correct decision. We’re simply less wrong.

So why is this important to remember from a strategy perspective?

One reason is smart allocation of your time and money. Picture this scenario:

You have an early-stage business and there’s a positioning decision you’ve been wrestling over. You’ve done the research, talked to customers, collected the data, and think you’ve made the “right decision.” You go all in on an evolved brand design, only to realize the truth. You weren’t exactly right – you were just less wrong. And now quite a bit of time and money is wasted.

Don’t jump the gun. Make numerous little bets continually, not big bets.

The problem is, we tend to get very excited when we think we’re right.

Then, we over invest time and overspend money. We buy services we don’t need or don’t end up using. We waste time doing outreach to a market that wasn’t a fit for our service.

It’s challenging to be hyper-confident in your abilities yet hyper-aware that almost everything you will be doing is partially wrong – but simultaneously understanding those seemingly opposing ideals is perhaps the smartest thing early stage entrepreneurs can do.

Always be learning, always be iterating, and avoid the trap of “right.” You’re not right, you’re just less wrong. And that’s fine because ultimately, effective entrepreneurship is nothing if not constant iteration.