Starting now and the fallacy of being overly prepared

Success occurs in iterations

First of all, welcome back from the holidays (Easter), for those that didn’t resume work yesterday.

I recently recorded a podcast episode with Tomilola Majekodunmi, CEO of Bankly, a Nigerian fintech startup digitizing cash for the unbanked that recently raised $2 million in their seed round. One of the things Tomi hammered on was starting with what one has and testing a hypothesis on the go.

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Listened to the episode with Tomi and all the fantastic things she shared? Here’s a link - Spotify, Apple Podcasts, Google Podcasts

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So many people have execution paralysis because they want to be well prepared, dare I say, overly prepared!

Here’s the kick, no amount of planning can replace getting stuff done.

Failure is inevitable when you overly devote time, energy, and resources toward planning while ignoring or neglecting execution. I’m not saying you shouldn't have a basic plan on what you ought to do and what you expect to achieve. However, be wary of just indulging in activities that stop you from actually executing and getting the work done.

Here’s how to plan:
• Set objectives and goals
• Break down work into mini processes
• Assign tasks and schedules to people
• Anticipate and adjust for problems and roadblocks
• Measure performance against goals
• Evaluate results

The end goal of any effective planning process is to follow this loop -

ACT → Learn → Build → Repeat

Success occurs in iterations, start executing!