Writing my performance evaluation today, most of which is private but which I’m happy to share the fundamental strategy:
Run a portfolio of experiments.
Unlike an actual investment, you can increase sizing *after* the results are in at a similar entry price. Do that ruthlessly.
Run a portfolio of experiments.
Unlike an actual investment, you can increase sizing *after* the results are in at a similar entry price. Do that ruthlessly.
Interestingly I think this is similar to my operational mode when consulting but different from when I was running a company (there were a lot of non-optional things that had required execution but no return for out-executing; taxes or banking, etc) and different from some peers.
Since the sizing of an investment metaphor might be a bit weird for people who don't allocate capital professionally:
Suppose hypothetically you have 100 units of mental bandwidth and run 5 experiments with 20 units each.
3 work, 1 has the seeds of greatness.
Suppose hypothetically you have 100 units of mental bandwidth and run 5 experiments with 20 units each.
3 work, 1 has the seeds of greatness.
You could:
a) Be told by your manager "Ugh, you've got a 40% failure rate." Many businesses are managed this way. Prefer not to work in them if you work in this fashion.
b) Run 5 new experiments next quarter with 20 units each.
c) Put ~60 units in scaling adoption of #1 result
a) Be told by your manager "Ugh, you've got a 40% failure rate." Many businesses are managed this way. Prefer not to work in them if you work in this fashion.
b) Run 5 new experiments next quarter with 20 units each.
c) Put ~60 units in scaling adoption of #1 result
