Imagine you're a tech product manager deciding whether to launch a new feature. You could spend months gathering every piece of data, analyzing competitor moves, and conducting endless user surveys. Or you could act when you have 70% of the information you need.
This is Jeff Bezos's secret to building Amazon: make high-velocity decisions with 70% of the information. Why? Because waiting for 100% certainty means the opportunity has already passed. Jeff made the call to just launch so many products like Kindle reader, Prime and decision to let 3rd part sellers compete with Amazon in their own platform etc. following this protocol.
Here's a relatable example: Think about choosing a restaurant for a lunch with your teammates. You could research every review, check every menu, and debate endlessly. But by the time you've gathered "perfect" information, lunch hour is over and everyone's frustrated.
Instead, gather enough information to make a good decision—maybe 70%—and move forward. If it's wrong, course-correct quickly.
The takeaway: In today's fast-paced world, speed often beats perfection. Make the call when you're 70% confident, then adapt as you go. Your competitors won't wait for you to reach 100%.
Regards,
Akhil.