Annie Duke

There’s no problem with tackling low-hanging fruit. Eventually, you have to. But you better make sure that you solve for the bottleneck first — because every bit of low-hanging fruit you tackle creates an illusion of progress and sunk cost problems.

Annie Duke

Goals are great — as long as you have thought in advance about what would make it so that you wouldn’t pursue that goal anymore.

Annie Duke

One of the things that give startups an advantage is that they’re exploring in a way that established companies aren’t able to. Enterprises have an innovation problem. Startups are exploratory. But what we have to realize is that the very act of setting a goal makes you become more and more enterprise-like. You stop exploring other avenues, strategies, products, and motions that you could be … [ Read more ]

Annie Duke

When we look at success stories that were a long time in the making, there’s a temptation to say sticking to it is just good — full stop. But the problem is that the grit that allows us to power through will also get us to stick to things that aren’t worthwhile. Success comes from sticking to the stuff that’s working and quitting the rest. … [ Read more ]

Annie Duke

A common misconception about quitting is that it will slow your progress or stop it altogether. But it is the reverse that is actually true. If you stick to a path that is no longer worth pursuing, whether it’s a relationship that isn’t going well, or a stock that you’re invested in that’s losing money, or an employee that you’ve hired who isn’t performing, that … [ Read more ]

Annie Duke

As you consider a past decision as a team, think about what you knew before you made it. What was revealed after the fact? Could you have known about it beforehand?

We tend to only review decisions that are associated with bad outcomes, like missing a sales target by 10%. But when you exceed that same target by 10%, there’s no meeting, no post-mortem. Just congratulations … [ Read more ]

Annie Duke

To make great decisions, you need accountability, repeatability, and examinability. I always describe it like this: We need to create an evidentiary record, a way to Google our own decision-making.

The Tactical Guide to Making Better Decisions When Starting and Scaling Companies

For the past couple of years, Annie Duke has been sharing her advice with founders and angel investors in closed sessions for the First Round community, but given our focus on open-sourcing so others in the tech ecosystem can learn, we thought readers of The Review would be curious to see a few pages from her decision-making playbook, tailored specifically for the startup context.

In this … [ Read more ]

Annie Duke

If I want to make a good decision, I want to identify people I respect who are well-informed and yet have a completely different opinion than mine. And I want to spend time exploring that and understanding their point of view. I might be wrong, and if I’m wrong, I’ll benefit from having someone correct me. But even if I’m not wrong, I’m going to … [ Read more ]