Simple Rules for Entrepreneurial Decision-Making

This chapter offers simple rules for entrepreneurial decision-making. These simple rules are: entry decisions are complex, so time them right; if you think you do not have implicit biases, you are probably wrong (we all do), so set up procedures to circumvent them; reduce your overconfidence in making predictions; while slack is nice, necessity can be the mother of innovation; when you lack information to make decisions, turn to what you have at hand; if you want to capture fleeting opportunities, then speed up your decision-making; and decision analysis will only get you so far, tap into your inner child to ask questions.