Outsiders and ignorance

Bringing an outsider's perspective to an industry or project can do wonders for innovation. When one is free from any preconceived limitations or approaches, fresh ideas can appear. Here's an interesting clip of Orson Welles on the value of ignorance.

A decision is better than indecision

Sometimes, even a wrong decision can be better than no decision for a business.

For example, imagine you’re faced with the decision of expanding your company into a new market. You have two options: Market A, which seems promising but risky, and Market B, which appears to be stable but offers slower growth. Unable to make a decision, you remain stagnant, missing opportunities in both markets.

Alternatively, you could choose to expand into Market A, only to find that it wasn't as lucrative as initially thought. Despite the setback, you learn important lessons about market research, risk management, and adapting your business strategy. Equipped with this insight, you pivot and expand into Market B, using the experience gained in Market A to succeed and grow your business.

By making a decision, even if it was the wrong one initially, you gained valuable insights and experience that contributed to your eventual success. Decisions, even imperfect ones, are essential for progress and learning.

Just start

Starting is the ultimate catalyst for growth, creativity, and innovation. It is also a powerful antidote to uncertainty, as it transforms doubt into action. Starting creates something tangible to react to, learn from, and refine.

Even if we start with the wrong thing, it's better to start than to do nothing at all. In many instances, we can only determine whether something is the right or wrong approach once we've taken that initial step. This experiential learning enables us to pivot, iterate, and enhance, ultimately guiding us toward our desired outcome.