Be 20% Wrong, Chase 10X*
Bolt’s vision is to truly democratize commerce, plain and simple. We believe we can actually do it… and this belief is audacious to say the least. With this, we’ve encountered major challenges through the journey. But, we learned, iterated, and persevered. Many companies before us have failed, but Bolt is succeeding where others have not because we pursue innovative, bold ideas and are not held back by fear (or bureaucracy).
At Bolt, we move fast, take risks, and chase big outcomes wherever possible. We’re creating an environment where we can act fearlessly, consensus isn’t needed for every action, and experimentation and failure (plus learning) are par for the course.
As we continue to innovate and push the boundaries of what is thought possible, we must seek out the opportunities that reap the biggest rewards and always challenge ourselves to think differently.
In action, this means we:
- Swing for the fences and are willing to make big bets that are high risk, high reward.
- Lean into the hard challenges and run through walls when necessary.
- Default to experimenting instead of spending time theorizing for the perfect solution
- Prioritize learning from our failures.
- Recognize when to ship “good enough” solutions.
- Allocate ample time to the highest importance and highest leverage work.
- Aren’t shy about admitting failure to ourselves, our teammates, and our partners.
- Get outside our personal comfort zones.
- Always measure our results, so we can be sure when we’re wrong.
- Are comfortable putting out MVPs to customers, so long as we’re clear with them about what we’re doing.
This does not mean we:
- Break our production systems; customers rely on us in their critical path of money movement. (thus “be wrong” and not “break things”)
- Don’t fix bugs and technical/operational debt.
- Reinvent things just for the sake of it; it needs to be something well thought out and worth the work.
- Get distracted by shiny objects; we are willing to do small things that move the needle.
- Forget that current results matter as well; short term progress is essential to long term success.
- Don’t balance the needs of our existing stakeholders with those of our future ones; we must build for both our present and our future.
- Are careless; making a mistake once is ok but it must be learned from. We don’t make the same mistake twice.
- Deliver MVP products to customers who need perfection; we are transparent about bets we’re mutually taking and associated risks.
*Credit to Reid Hoffman: https://hbr.org/2015/03/reid-hoffmans-two-rules-for-strategy-decisions