Excerpts from the soon to be released book, “Good Business . . . Bad Business” by Robert Singer and Rick Segel.
Good Business – Making decisions with enough information to make an intelligent decision.
Bad Business – Making decisions with no information or little information when information is readily available.
The people that drive us crazy the most are those people that make decision, even major decisions, with one piece of information, limited information, or from a single source. You can even say “hear say” information which is even worse. We all know the person that has a friend that seems to make all the decisions for them.
The key in decision making is getting the best information, from the best sources, in an understandable and comparison format. Spreadsheets or brochures that compare products using check marks for capabilities should be used in our decision making process. The is what “Do Diligence” is all about.