What’s the difference? And when is the best time to use one or the other? I see incremental steps as systematically working a plan. Where bold action involves stepping off into the chasm of the unknown. Both approaches have their merit, but when and how you utilize one or the other can determine the difference between success and failure.
I’ve witnessed leaders who seemed paralyzed by their inability to make decisions or act. Why is this? Fear, Probably. They are afraid to make a mistake. So, instead they give the appearance of making progress by the words they use, all the while nothing of consequence is happening. A basic tenet of leadership is action. When I hear someone refer to themselves as a leader or spend an inordinate amount of time reading their resume, I take a step back to see if their deeds are lining up with their words. If not, they are essentially in perpetuation instead of an accomplishment mode.
Ideally you want to combine both incremental steps with bold action. This takes some doing because most people are incapable of threading that needle. It’s sort of like combining a tortoise with a hare. We see this combination play out in the Agile Project Management approach where Sprints are used to help teams deliver value incrementally. This approach helps to build momentum allowing team members to complete tasks on time and within budget.
Don’t be one of those people who reside in a zone of delusional thinking where you think you are executing when all you are doing is kidding yourself. Amazon’s CEO, Jeff Bezos gives a perfect example of someone who takes incremental steps boldly. His motto was “Gradatim Ferociter” or step by step, ferociously.