by. Anthony Demangone
The problem with decisions is knowing when to pull the trigger.
We live in a world where there's always another article to read. Another chart to decipher. Another piece of data to analyze. What if we make a bad decision because we didn't wait forthat missing piece of data?
A recent article(Inc.com)I read argues that we over-analyze things far too often. Fact finding and due diligence suffers from the laws of diminishing returns. The article points to the 80/20 rule.
The 80/20 Rule is pervasive in our world:
- 80% of traffic jams occur on 20% of roads.
- 80% of beer is consumed by 20% of drinkers.
- 80% of classroom participation comes from 20% of students.
- 80% of profits come from 20% of customers.
