40+FAB Blog

The problem with analysis

I am sure you have heard of the analysis paralysis syndrome where people tend to get into a maze of playing out options of how a proposed pursuit may turn out. Others call it overthinking a thing and therefore not taking action.

I find that the problem with analysis is not the analysis itself, but the input and premise to that analysis. We all have access to loads of information to make an analysis, but some people get more out of their analysis than others.

For analysis to be effective a few things must be in place.
1. Analysis should only begin after you have made a decision to do something and it should help validate that decision
2. You must be asking the right questions from the right sources
3. A lazy mind will never follow through because analysis is hard work
4. Analysis should be done in stages or iteratively, and at each stage action must be taken to prove the outcome of the analysis of that stage

I decided to start a business in fashion because I had an idea. I began by asking “is it a good idea?” That question led me to do some analysis and seek people with good knowledge in the fashion space. When my analysis was complete and the idea was validated as a good one, I moved on to the next phase. This time the question was “How can my design compete with world class luxury items?” Analysis was done and based on results, I partnered with a design company. Then, I asked a next question and so forth until I now have a physical product ready for the market.

One gets into analysis paralysis when they haven’t made a decision or don’t ask the right questions or try to do too much at once or frankly are just procrastinating. On the other hand, some have jumped very foolishly ignoring analysis because they felt it was a waste of time, but this could largely be because they didn’t know how to do it right.

The problem with analysis is usually not with analysis but with the one analysing. Practise how to analyse the right way and see if it doesn’t make a positive difference for you.