Just as in life, everything in business and innovation is a series of trade-offs.
If we want more of one thing, that necessitates less of another. We sacrifice, reduce, or diminish over here in order to obtain, advance, or augment over there.
Whether we realize it or not, every trade-off is a choice, so best to be intentional about them and make trade-offs that are strategic and tactical.
Be specific about the trade-offs you are choosing and why. Name your trade-offs and the associated opportunity costs so you can be clear about the choices you are making.
Then, over time, you can assess those trade-offs and understand whether or not your choices were good or bad, independent of outcomes.
With that insight, you can reevaluate your trade-offs and intentionally make another strategic and tactical choice again.
