[tomkuegler]

Hello All:

At Wasabi Ventures, we have been advising a new portfolio company about over analyzing their data and becoming paralyzed (we wrote a blog entry about it).

I was wondering what techniques do any of you entrepreneurs use to lean towards action instead of stagnation?

[tvleavitt]

You use your data to pick out the low hanging fruit, and take it from there... at my first company, WebCom, which was a classic self-funded startup, I always operated on the 85% theory: get the product 85% of the way there based on your own judgement, then shove it out to the customer and let them tell you if what you produced is worth finishing, and if so, where to focus your efforts.

With regards to data analysis: I had automated reports coming in on a daily basis that displayed key metrics, and their primary purpose was not decision making, but simply keeping tabs on the pulse of the company... and enabling me to quickly identify any anomalous occurances (either technical or operational).

I find it hard to imagine a situation where a start up could "stagnate"... my experiences have always been that it is simply a matter of picking one among many choices of how to move forward.

BTW, hello again.

[akula]

Originally Posted by tomkuegler

Hello All:

At Wasabi Ventures, we have been advising a new portfolio company about over analyzing their data and becoming paralyzed (we wrote a blog entry about it).

I was wondering what techniques do any of you entrepreneurs use to lean towards action instead of stagnation?

good good
in my companies, we always use financial penalties if the person in charge of the task does not deliver/execute the task on time
likewise, we use rewards to encourage people to get shit done ahead of schedule

essentially, if an employee is stalling, we ensure that they either miss out on a bonus/reward, or that they suffer deductions in salary

if there is a deadline for a deliverable, I consider all kinds of "analyzing their data and becoming paralyzed" as assaults against the company