Apr 30, 2021 - Panchayats block soft drink, ice cream companies

From the Editor's Desk

All Companies Should Live by the Jeff Bezos 70 Percent Rule

A guide to making business decisions--even without all the information--inspired by the Amazon founder.

There are times when companies move too swiftly into a decision that hurts them. There are also occasions when they're too slow and they fail. Jeff Bezos lives by a rule that addresses that problem.

In a 2016 annual shareholder letter, Bezos talked about his approach to decision making. He suggested that while it's always nice to have access to all of the information someone wants, in the vast majority of cases, waiting until you know everything you should know is a problem.

"Most decisions should probably be made with somewhere around 70 percent of the information you wish you had," Bezos wrote in the letter. "If you wait for 90 percent, in most cases, you're probably being slow."

That's a framework that every business owner should adopt.

Continued here

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