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Welcome to The View from the Prime Meridian

Welcome to The View from the Prime Meridian.

The intent of this site is to share my thoughts and views on corporate behavior and organizational excellence, issues I believe have a critical impact on day-to-day business practices.

I hope you enjoy this blog and invite your feedback. To learn more about the consulting services offered by Prime Meridian Consulting Services, LLC, please visit my website at www.primemcs.com.

Peter

Friday, October 15, 2010

Fish with bait, not the whole fish

I know it seems intuitive for companies to take things in small steps  and plan ahead a bit. I liken this to fishing with bait, measured and controlled. Under such circumstances, there is frequently a bit of data that can be collected telling us if we are fishing at the correct depth using the right bait, and more importantly if we are getting the fish we are looking for,

Once we determine a successful approach has been achieved, we tend to lose our objectivity and decide to throw caution to the wind. The net result of this lack of prior data analysis makes for a costly fishing expedition.

Moral of the story is as follows: Have a plan of action and follow it.constantly reassess the data being gathered in order to stay with the plan. Integrate data feedback loops into the process so that your data is constantly updated based on newly collected data..In your excitement, don't through  the whole fish overboard as bait or your little data gathering trip will come to an abrupt stop.

1 comment:

  1. Good point. It's so easy (especially for intuitive types)to get overly enthusiastic in forging ahead with an exciting concept. Good to remind ourselves to calm down and proceed with care!

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