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Making a business decision by flipping a coin

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There's a reason they have two sides

Making a business decision by flipping a coin seems dangerously dumb, but entrepreneur Seth Godin argues sometimes it's the correct move. In 1986, when considering pricing for a brand of software his company was launching, they had no data, no history, and no graphs, so after an hour discussion the folks in the room - several with prestigious MBAs - did the only intelligent thing they could: Flip a coin to choose. "When there isn't enough data, when there can't be enough data, insist on the flip," he urges. Seth's blog

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About the Author
Management columnist

Harvey Schachter is a Kingston, Ont.-based writer specializing in management issues. He writes Monday Morning Manager and management book reviews for the print edition of Report on Business and an online column, Power Points. More

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