Thomas Sowell, the American economist, has a quote that lives in my head:
“There are no solutions. There are only trade-offs.”
Once you hear it and let it steep a bit, it’s hard to unhear. It applies to everything and everyone, including business. And you.
In your agency, everything is a trade-off:
- If you want the upsides of growth, you’ll sacrifice some short-term profit.
- If you want the flexibility of subcontractors, you trade off the availability of salaried employees.
- If you want to hand off jobs and wear fewer hats, you’ll have to live with some mistakes.
- If you want reliable revenue, you’ll need to learn sales and spend more time on that and less on the tools.
And on it goes. Everything is a trade-off.
When you’re thinking about what you want in the future, remember that. Outline the tradeoffs of each path you could take. Write down not only what each choice could gain for you, but also what you are likely giving up.
Because the best leaders don’t chase the fallacy of the perfect solution. Instead, they understand, and choose, their trade-offs deliberately.