Impact Betting

The best better wins. In poker and in business. Photo by https://unsplash.com/@exxteban

“Impact betting” is a concept we use to help teams and organisations understand two very important things:

1. Your job is to make meaningful impact. Not write some lines of code. Not deliver a plan. Not design a feature. Not answer a call. Sure, these are activities you may do while you do your job — but they are not why you do it. Focus on the outcome — not the output.
2. Everything (almost) is uncertain, especially when you try new things. We don’t know how big the actual impact will be until we try. That’s why we call it “bets”. We are not sure of the outcome — but we can improve the odds! Reduce uncertainty and be in constant learning mode to make better (lower risk, higher impact) bets.

Now I’ve just stumbled upon the book “Thinking in Bets” by former poker player Annie Duke. Adding it to the top of my reading list. Maybe you should too. I bet it’s good.