Dependencies appear in all aspects of life and business. We are all dependent on someone or something. We run into trouble when we don’t realize our dependencies and how they affect our decisions.
A common mistake that plagues many companies is hiring people who, on the surface, are pretty smart but also bring their dependencies, which can be detrimental to growth.
Prior knowledge of how a marketing campaign should be launched or how a product should be developed is helpful, but often, our mindset can be closed to another way. It’s how we have done it before and become dependent on prior knowledge. It is safe to lean on past experiences instead of challenging the status quo. Why risk failure by experimenting with something new?
Dependencies creep into all aspects of business. Product development, tech stack, supply chain, providers, and vendors. All intertwined in a web of connections where if one area is cut, the cascading effects can be crippling.
The most damaging assumption many people make is to do what they have done before—just because that’s how they know how to do it. We often rely on strategies and methodologies that have worked in the past due to fear of failure. Theoretically, it is simple to follow a previous playbook. However, what lurks underneath are complexities growing and waiting for the moment when it is too late.
Human behavior and dependencies on prior experiences play a significant role in shaping a startup's trajectory. While providing a safety net of known outcomes, these dependencies can also limit the potential for innovation and adaptation. Our risk aversion can inhibit the exploration of innovative approaches that could potentially achieve more significant results. Biases can also stifle innovation if we are more likely to stick with known pathways rather than explore new options.
Overcoming dependencies on past experiences requires cultural, strategic, and operational changes.
Fostering a culture of continuous learning encourages a mindset where learning and adaptability are valued above following past practices. A culture that celebrates failures as learning opportunities will encourage open discussions about failures and what can be learned from them. Helping to reduce the stigma associated with trying new approaches.
It’s amazing what happens when you become open to the best ideas, rather than the most credentialed voices. - Morgan Housel
Promote diverse backgrounds and perspectives. A team with a wide range of experiences is more likely to challenge the status quo and propose innovative solutions. Intentionally create an environment where every team member feels valued and empowered to share their ideas, regardless of their role or seniority.
Implementing agile and lean methodologies emphasizes flexibility, customer feedback, and iterative development, which allows adaptation to changes and learning from each iteration.
An approach to building minimal viable products (MVPs) and prototypes reduces the risk associated with dependencies on past successes and promotes more evidence-based decision-making.
Utilizing data-driven decision-making can uncover insights that challenge preconceived notions and reveal new opportunities. Reviewing metrics and KPIs regularly to assess the effectiveness of strategies and operations is good practice.
Data is a tool not as gospel. Just because the data says one thing, doesn’t mean we blindly follow it. Intuition plays a huge factor.
Building a resilient organizational structure that supports quick decision-making and flexibility enables flatter hierarchies that empower employees at all levels to take initiative and propose innovative solutions.
Our dependencies are like a double-edged sword. On one hand, they provide a sense of comfort and familiarity in an uncertain world. But on the other hand, they limit our ability to see new possibilities and adapt to changing circumstances.
The key is to be aware of those dependencies and actively manage them. It's about finding the right balance between leveraging what you know and being open to what you don't.
In a world that's constantly changing, the only true dependency is on our ability to adapt and evolve.