As with anything in life, time is usually of the essence. This relates to starting and a business, choosing the correct procedure to perform on a patient, or even deciding how to act when in the midst of a sparring match in a martial arts tournament.
When we venture into an area that we are not too familiar with, or do not know all the answers, there are three main variables to consider: time, knowledge, and consequences of one's decision.
In the initial stages, knowledge and understanding are low at first, meaning if you make a decision right off the bat, there are much higher consequences in the decision you make, since you may not have the best understanding of the situation. As time goes on however, your knowledge of the arena increases, and therefore you are able to make a much better decision due to your increased knowledge of the space.
Analyzing the timeline, you can see that making a decision immediately without truly understanding the landscape can prove to be fatal. The same goes for those that wait too long to act on a decision, where they gain a great deal of knowledge in the space, but allow opportunities to pass due to their delayed decision.
The graph above shows that there is a point where one's knowledge increases to a point that matches the consequence of one's decision. This obviously is very subjective, but with time, people can learn to find that fine balance between decision consequences and knowledge base.

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