What 12 Years in Retail Taught Me About Decisions
The Early Mistake
Early in my career, I made a buying decision that cost the team a meaningful amount in dead inventory. The trend was real, but it was six months away from hitting our market. I was early, which in retail is the same as being wrong.
Lesson 1: Speed Beats Precision
A good decision made quickly beats a perfect decision made slowly. If you have 70% of the information pointing in one direction, and the downside is manageable, move. You can course-correct later. You cannot get back lost time.
Lesson 2: Data Tells You What. Experience Tells You Why.
Last year, a sub-category showed declining sell-through across 200 stores. The data was clear: stop buying it. But when I dug deeper, I realized the decline was because of poor visual merchandising, not customer disinterest. We fixed the display strategy, and the category recovered.
Data is the starting point. Never the conclusion.
Lesson 3: Sunk Cost Will Destroy You
I have learned to cut losses fast. The money you already spent is gone. Only the money you have not spent is still a decision.
Lesson 4: Know Your Reversible vs Irreversible Decisions
I spend very little time on reversible decisions. Choose fast, adjust later. I spend a lot of time on irreversible decisions. The ratio of reversible to irreversible decisions in most jobs is something like 90/10. Most people treat every decision like it is irreversible.
The Takeaway
Move fast on reversible decisions. Move carefully on irreversible ones. Trust data for the "what" and experience for the "why." Cut losses early. And write down your reasoning so you can learn from yourself.