“Without a solid grounding in the numbers, you’re at the whim of someone else’s narrative.”
Lots of good explanatory info now coming out about Silicon Valley Bank’s demise … one of the best pieces of advice the quote above from Rich Falk-Wallace.
One could add to the “numbers” watching what execs and others are doing … the backstory beyond the pure balance sheet/P&L.
In the age of social media, the velocity of opinions can be supersonic (or with a lot of hype, “hypersonic” ;-).
One of the best approaches to help your thinking and decision-making is the same as in the past:
👉 Don’t make major decisions based on a lot of data or complex scenarios swirling in your head.
👉 Write down what you are thinking, including assumptions and scenarios about the past, present, and future.
👉 Get feedback from trusted others (or a coach if you have one) about your thinking, then decide.
This gets the whirlwind out of your head and into something manageable … and “manageable to” and communicable if you are in a leadership position.
It also enables learning by everyone involved as assumptions are tested going forward … which is almost impossible if thinking is just kept in your head. And our head likes to correct/rationalize the narrative as we go along 😉
The caveat to the above is if a decision is needed right now … but those are fewer than most people think. The hype/hysteria can create a “need to act now” mentality when, with a little analysis, even a decision to not act might be better.
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