A young man comes up with a great idea for a new shipping method. He designs everything himself, hires people to create models, and deduces that he can use old fashioned boating technology to increase shipping speeds by up to 350%. This is obviously a great innovation, so he calls up a former Business professor from college and gets into contact with a manufacturer. The manufacturer makes the man come in and present his design to the board of directors, so they schedule a meeting in two weeks.
At the meeting, the board is blown away. The man’s charisma, design, and equations all point to a massive innovation in shipping. The company is poised to make a huge profit. Construction starts immediately.
On his flight back, the man happens to sits next to his old buddy from high school, Jimmy. Jimmy tells the man that he has just blown the farming world wide open. His new GMO potato produces five times as much energy and has been the talk of the world. Jimmy says that all the news outlets have been reporting potatoes to be the next big superfood, and his design is poised to make him millions, if not billions of dollars. Jimmy pitches the man for the entire plane ride, and convinced him. They hop on the next flight back to visit the board of directors once again. The board is shocked. Both ideas stand to make billions of dollars for the company, but there is one slight problem.
The CEO says to the man, “we know you have these two ideas. However, we can only allocate enough resources to make one of them profitable. I recommend you take some time off and really decide which of these ideas you want our company to produce. We can schedule a meeting in a few weeks if that works for you.”
The man says right back to the CEO, “I’m going to take a walk and clear my head. This is a big decision” and walks right out of the room.
Not even five seconds later the man comes back into the room and says “I’ve made my decision. Let’s go with the shipping method.” This shocks the CEO, who says “are you sure?? This is a billion dollar decision and you only took five seconds to think about it.”
The man looks back at him and says “well, in this business time is money— so I decided to make my decision schooner rather than tater”