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Oak Trees and Bananas

Wednesday, March 27, 2024

Primary Blog/Oak Trees and Bananas

Oak Trees and Bananas

The paradox of patience and urgency is a critical issue for entrepreneurs to understand. Many entrepreneurs think there is only one speed; fast. I will be the first to admit that moving quickly, testing rapidly, and getting feedback from customers and vendors is crucial. Executing with a sense of urgency is also vastly important. Seasoned entrepreneurs develop instincts about when to push hard and when to pull back. To illustrate this point, years ago, I came up with a story about oak trees and bananas.

​We all know that the second you buy bananas at the grocery store, you are on the clock since bananas are notorious for perishing rapidly. Not even your banana-bread-baking mother can save them after a certain point. In business, there are opportunities that are just like bananas; they won't last long. You must be decisive. These are the instances where you trust your judgment, decide quickly, and manage your risk prudently.

On the other hand, certain capabilities take time to develop, much like planting an acorn. No matter what you do with your acorn, it will take decades for it to blossom into a mature oak tree. You cannot water it more to make it grow faster. In fact, you can water it too much. Oak trees will grow at an oak tree's pace. Having the patience and wisdom to understand this is much like a seasoned entrepreneur.

​An experienced entrapreneur knows when they are looking at a rapid banana-like opportunity or an oak tree capability that will develop slowly over time. As you evaluate your market opportunities, work with your team, and build partnerships and relationships that will serve your company for decades to come. Be attentive about what kind of decisions you are making. You will be amazed at how much easier decision-making can be when everything doesn't look like a banana.

If you're interested in learning more about the art of decision making, I suggest reading "How to Decide" by Annie Duke. It's an incredible book that guides you through the journey on how to find the "why" behind your decision-making. As Duke puts it, "We want outcome quality to align with decision quality." (Duke, "How to Decide")

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John Lott

Founder of Eight Block Method

John, a seasoned entrepreneur and former CEO, started his business journey at eleven. Now focused on sharing expertise, he developed the Eight Block Method to turn passion into a profitable business. With an MBA from Cornell, John resides in Scottsdale, Arizona, actively investing and mentoring others.​

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