Mental toughness and courage to achieve our goals in the face of adversity are key themes in challenging times. Don’t listen to naysayers. Follow our vision. Stay on target no matter what the world says. No matter how long it takes. Yet at the same time, we’re told to be agile and not to be afraid to change direction if the world doesn’t like our offer. How do we know whether to stay the course or turn the wheel?
It’s easy to view as a binary choice. We watch some people ignore everyone telling them their vision is foolish. They persist for years – until their foolish ideas change the world. Yet we also see teams make dramatic pivots to different markets and business models before landing on the next big thing – which looks nothing like their original vision. How did each know whether to continue on their chosen path or change direction?
Three key traits
Most successful teams are no smarter or hard working than those who run out of gas (and cash) along the way. Instead, they possess three traits which others lack that create a GPS-like signal leading them to treasure.
The first is a strong opinion. Too many people shuffle around in circles hoping to stumble on a great idea. However, gold is seldom found just lying on the ground nearby. Winners observe their world and form a clear hypothesis for where to start digging. Then they aim for that point in the distance and go after it.
Unfortunately, most of the time that first opinion is wrong. We just don’t have enough data. But it doesn’t matter – we’re moving. While every journey of 1,000 miles begins with a single step, it’s the second step that matters most. We need momentum to discover the right path. This ability to create data flow between the world and our ideas – to quickly and repeatedly put our opinions to the test – is the second key trait of a winning team.
Velocity creates options.
Consider the source
The third trait is a discerning ear. Feedback on our idea is important. More critically, what is really being said, and by whom? The opinions of people outside our target audience just don’t matter. What we’re doing is not for them.
However, source is just the first filter. We shouldn’t listen to everything these folks say either. Our customers are often unsure what they really want. Even when they think they know, they struggle to describe it well. Furthermore, they could be having a bad day or a great day (equally dangerous), or just read something that influences what they tell us. They probably won’t think that way in a year – or even by tomorrow. Instead, we should focus on whether their feedback provides us with any new facts.
Any time we receive new facts – information that can be independently verified – we better listen. Strong opinions are needed to get us going. However, we should hold them loosely and not hesitate to drop them if we learn that they are no longer valid.
Seek the truth
Humans form opinions by applying logic to information that we believe to be true. We don’t always get this right, and sometimes our opinions rely on bad data. Whether or not the data simply becomes outdated or was never accurate doesn’t matter. Once we learn our opinion’s foundation is no longer sound, we must form a new one to guide our actions if we are to achieve our goals.
We can’t just “tough it out” when we’re wrong. If we hear plenty of “reasons” why our solution won’t work, but no real data disproving our hypothesis, we should persist in finding the right formula. But if we learn of a new regulation (or repeal of one) that invalidates our business model, that’s a fact we need to listen to. Similarly, if our prospects explain why they can’t pay even half of what it costs for us to operate a new service, we should listen to that. Fortunately, they often tell us other facts that reveal opportunities we can pursue instead.
However, if they just don’t like it because it’s different, there’s a good chance they don’t see it yet like we do, or our messaging isn’t clear enough. Changing course based on emotion or because others just don’t “get it” yet is a common trap. While we won’t succeed without feedback, we will fail if we misunderstand the kind of feedback we get.
“When the facts change, I change my mind. What do you do, Sir?”
– John Maynard Keynes (maybe)
The right thing, right now
Too often In business and in life people hold tightly to their opinions no matter what the data reveals over time. We fear changing our mind will make us look indecisive or inconsistent. Indeed, shifting our position may hurt our reputation and cost us followers. However, sticking to an opinion in light of new, contradictory, and verifiable information is the cause of many business failures – and most of the problems in the world today. Have we learned new facts or not? This is how we know whether to forge ahead or pivot. When the facts change, your opinions should change too. In the meantime, full speed ahead.