Friday, March 9, 2012

On The Ledge

"The challenge in understanding mistakes is that we make decisions looking forward and judge them in hindsight."

Paul J.H. Shoemaker, Brilliant Mistakes: Finding Success on the Far Side of Failure.

What this means is that we make decisions about investments and actions with only partial knowledge at best in many circumstances -- and even that knowledge is riddled with uncertainly. "Everything is crystal clear in retrospect" as my father used to advise me. And a lot of decisions, approaches, investments look pretty dumb as the cloud of the future dissipates. Who wants to look dumb? Why talk about it? At the same time, the uncertainties of the present and future may lead us not to take action for similar reasons -- we're walking off the ledge. This gets to the heart of defining a leader or entrepreneur

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