There were a couple of books and theories which spoke about Failing fast to succeed. The idea is kind of goes back to the Closed loop mechanisms which many engineers would have studied in the Control Systems subject. (Its been more than 2 decades..time flies so fast)…
Basically what it says is (pardon me techie folks…there could be a few who may not know about this)…that when there is a feedback that is taken from the output of an action (which in other words is the learning) and applied to the input, then the resultant output would be closer to the desired goal.
For example, lets say you are aiming a rifle in a shooting range. Let’s say your first shot went way off to the right. The next time, all you need to do is to make a small adjustment to the left, so you at least hit the board. The next one would need another small adjustment and so on. Eventually you will end up hitting the bulls eye.
Now there are other angles to it, such as the shaking of hands, sweatiness, etc which play a role, but we are not talking about competing in Olympics. So a bit of improvement should be fine. Which is what majority of the people are looking for either in their lives or Business.
The key here is to keep the feedback loop fast. Imagine you take a shot today and you come back for the next shot next week or next month. You would have lost the ‘physical memory’ of the last shot, which means you would have to start all over again.
Same way what can businesses do to hit the target consistently and sustainably? There are two things which are key. 1) Feedback 2) Action. Without either of these, don’t expect any magic to happen.
So how do you achieve the feedback systems in your business?
CashOS can help you there. Are you ready to take the action?
Reach out to us at firstname.lastname@example.org.
Founder & CEO
Written on 17 Feb 2019