In any market, the fastest company has the best chance to win. This defining factor of market leaders can become habitual, built into the culture of a company. In business, the faster a company can make decisions and execute on them, the faster the company is. Often, decisions are debated over and drawn out, but most decisions aren’t worth more than 10 minutes of discussion. When a company operates with urgency as a habit, quality and speed can coexist.
Strategies to make speed a habit
- Realize that very few decisions can’t be undone, so, when a decision is made is more important than what decision is made.
- Set deadlines for decisions.
- Recognize where you can turn slow steps in a process into simultaneous action.
- Strive to set the pace of the market.
- Take care of complicating parts early so they don’t slow you down later.
- Get team support for decisions and make it the case that each member benefits from the urgency.
How to know if you’re moving fast enough
- Always ask “Why can’t this be done sooner?”
- The team should feel stretched by the speed that’s expected. Push decisions.
- If clear discomfort can be seen in the team members, recognize that and respond accordingly.