The $2.4M Decision-Making Framework from Jayride’s Rod Bishop

The $2.4M Decision-Making Framework from Jayride’s Rod Bishop

A Carefully Structured Formula for Speed, Cohesion, and Minimised Key-Person Risk

These are my takeaways and my own perspective on a Fishburners ‘Learn From A Burner’ presentation given by Rod Bishop of Jayride on his company’s Decision Making Framework.

I refer to this as the $2.4M Decision-Making Framework due to its fundamental role in helping Jayride reach its current market position including raising a total of $2.4M.

To summarise the purpose of a Decision Making Framework, one might say that it’s a mechanism to prevent you from building something just because you can. It’s very easy to build solutions when you have the resources (personally, internally, or externally) to do so, but it’s easy to forget that there are a lot of hidden costs to building things – opportunity cost, maintenance cost, and the sunk-cost fallacy to name just a few.

So now you know why you need a decision-making framework, here are my notes and to quote Rod; “mileage may vary”.

“Close enough is good enough in the beginning”

The key outcomes of good decision making:

“I don’t think there’s anything more important for a growing company than being able to make fast decisions”

Set a mission – where exactly are you headed? If you don’t define this, people will incidentally send you in the wrong direction.

Your mission and vision need to control where you’re planning to get to – $100M venture-backed company, not $3M bootstrapped owner-driven business

“Focus on what adds the most value to the customer, not the business”

Tell people where they’re going not how to get there

As long as people need you to tell them how to act, you’ll be moving to slow

Never make the same decision twice

“Be prepared to throw everything away if that will get you to your next step faster”

Define the rules of the game

Define the style of work, not the work. Write it down and hold people to it.

“Sack things that don’t work. double down on things that do work”

Document everything – Jayride use Confluence to manage their systems documentation (just like Car Next Door)

Invest heavily up front

Separate opinion from instruction

Make sure everyone knows exactly where they’re going and why.

Hire people who want autonomy

“Moving fast is better than trying to avoid failure”

Always consider The Commanders Intent (more info here and some more detail here) – if the plan goes to hell, what’s the fundamental goal of what’s being done?

People can be autonomous even if you give them a very specific and narrow thing to be autonomous at.