I’ve heard countless times that one of the greatest advantages a start-up has is its ability to move faster and make quicker decisions, and are therefore able to out-maneuver larger competitors. While the majority of the time this proves true, lightning quick decision-making can just as easily be the DEATH of a promising venture. And while I have had success in my entrepreneurial career, it’s in times of failure that I really learned valuable lessons that I will carry with me for the rest of my life. An entrepreneur’s red badge of courage.

My business partner and good friend Kyle Rood and I have spent many a day – and night for that matter – in the proverbial foxhole. When we come to work everyday at Start Right Foods we wear that badge of courage. If not for each other we would both be out of the game of business creation. It was time spent in the foxhole together while our ‘enemy’ surrounded us that we have learned to be patient and have coined a term that we live by now – EXPEDITED CAUTIOUSNESS.

Yes, that is correct, I just yelled at you to make sure you read it properly (and feel free to yell out loud “EXPEDITED CAUTIOUSNESS!” as you sit and read this article).

Expedited Cautiousness (EC) I define as moving as fast as you can, while giving appropriate amounts of thought and time to flushing out as many risks as you can. Think swift cynicism. It isn’t super sexy to view the world through cynical eyes but thinking this way can help you execute at a high rate of speed while de-risking everything in your power.

Do you have an idea or product that you think has merit? How will you know if others feel the same way? Take time from the beginning to learn who your customer is. Understanding your consumer better than anyone else is the key to success. If you understand your customer better than your competitor you are already ahead in the game and you haven’t even spent a dollar.

Once you understand the customer, go talk to them! Glean as much information from them as they will give you…and then probe for more. Now it is time to sell them your idea or product. If the customer isn’t buying your idea or product, take their feedback and make changes and improvements to your business. A few rounds of this and you should have a finished concept. But now, because you have moved swiftly while being cautious not to get caught in the trap of your own vision, you are able to grasp a deep understanding of your customer and have a solid concept to meet whatever need the customer possesses.

EC can be applied in many areas and probably the most important of those, in the realm of a start-up, is with people. This is an involved lesson that Kyle and I are still in the process of working through but I think we are allowing EC to guide us in making good decisions about who to work with and when to work with them. Perhaps this topic can be taken up in more detail in a devoted column. Kyle and I will get back to making sure that St. Louis has the best access to convenient, high protein breakfasts.