What’s the best way to make tough decisions?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Satisficing – AVC

Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met.This is contrasted with optimal decision making, an approach that specifically attempts to find the best alternative available. I love the concept of satificing instead of optimizing. It is something I have been trying to adopt (changing behavior is hard) for close to twenty years now w… (read more)

What’s the best way to make tough decisions?

Mike Maples Jr (Managing Partner @ FLOODGATE)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

The way I look at it, most decisions are either 50-50 or obvious and if its 49-51 it almost doesn’t almost doesn’t matter what you pick. Just pick one and execute it with brutal precision and you’ll be ok. When I flip a coin and it comes up heads and I wish it came up tails, I just turn it over and what tails says. If it comes up heads and I say ‘Oh I knew it all along I wanted it to be heads”, then I do what heads says. It’s surprising how you a… (read more)

What’s the best way to make tough decisions?

Ben Erez (Product at Breeze)
22 Mistakes I Made as a First Time Founder — Viabilify

[Follow your gut. ] At one point during the first few weeks of starting our company, I had a very strong gut feeling to change the way we were going to tackle the problem we saw (aka in tech lingo a “pivot”). But the three of us weren’t on the same page and after a couple hours of arguing back and forth, we came together as a team and decided that we would not go in the direction in which I was pushing. In hindsight, I wish I stood my ground mor… (read more)

What’s the best way to make good decisions?

Jerry Neuman (Venture Capitalist at Neu Venture Capital)
You Can’t Learn from Failure, You Can Only Learn from Success | Reaction Wheel

If you’re going to learn from failure you need to learn how to avoid every possible way you can fail. It’s a waste of your time. You only need to learn one way to succeed.

What’s the best way to make good decisions?

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
How Andreessen Horowitz Evaluates CEOs – Ben’s Blog

In order to prepare to make any decision, the CEO must systematically acquire the knowledge of everything that might impact any decision that she might make. Questions such as: What are the competitors likely to do? What’s possible technically and in what time frame? What are the true capabilities of the organization and how can you maximize them? How much financial risk does this imply? What will the issues be given your current product archite… (read more)