The Ripple Effect of Delay: How a Bias for Action Can Improve Project Success
Getting Started > Getting it Perfect
GETTING STARTED > GETTING IT PERFECT
Simply put, you must create a bias for action in your teams and work centers. They will help fight against a few major issues:
meetings that go in circles with no decision point
teams stuck waiting on approvals to continue
unclear guidance on what done looks like
projects killed before they had a chance to launch
opportunity cost from prospects that are no longer around
wasted resources in time, manpower, and operating costs
possible reputation damage when the FOMO becomes real
When you delay getting started on a project, there is an increased likelihood that the project never even launches. Possibly worse, you add to the 24 billion hours wasted yearly in meetings. Without a bias for action, you not only waste the time of the action team - but also the time of everyone that has to sit in the meetings where you talk about the project. They may not even be part of the project themselves! It is clear that delaying causes a ripple effect across the organization, but the reason for the delay may not even be valid!
One of the critical reasons teams delay is they are worried about wasting money or moving in the wrong direction. While this is a valid concern - the data does not back it up entirely. While you may have to watch a team pivot, teams that act early are twice as likely to make impactful decisions for significant results.
Do your teams know where they are supposed to be heading? You might think they do, but are you sure everyone uses the same definition of success, and does it match your description? If the teams are not aligned, you could end up with various groups moving quickly in varying directions, which is a problem!
Having a bias for action is crucial to the success of a project. It not only saves time and resources, but it also helps to avoid the adverse ripple effect that delay can have on the entire organization. The key is to have a solid strategy from the beginning to diminish your risk. Your teams can operate more autonomously. While they may look different in their approach, you can be comfortable knowing they are all heading toward the same fundamental objective.
You can avoid confusion and conflicting efforts by ensuring that all teams are aligned with the exact definition of success. With a clear strategy, teams can operate more autonomously, and you can have confidence that they are all working towards the same key objective.
It's important to remember that good work goes a lot farther than a perfect plan on paper. As managers, leaders, and executives, having a bias for action and a solid strategy in place can help ensure the success of your projects and minimize the potential for wasted time and resources.Thanks for reading The Art of Results! Subscribe for free to receive new posts and support my work.