How the Best CEOs Incorporate Speed Into Their Business (and How You Are Doing It Wrong)

Speed is something that needs to be taken with a grain of salt, especially in the business field. By trying to speed up operations too quickly, it can lead to poor quality and business practices that will detriment your relationship with customers. However, by taking calculated and measured steps in improving speed in certain areas, business owners can ensure that their measures are effective and efficient.

Key Takeaways:

  • Assess the last 2 weeks of a handful of key decisions among your team and benchmark the time span for each decision and the people involved to make each decision. File that away for comparison 3 months from now.
  • Moving forward, triage which decisions are 10-minute decisions and which are 1-2 day decisions.
  • Determine which decisions you will build consensus and which decision will be assigned to one person.

“What tool will you use to create a market, fight off competition, and develop a sustainable high-growth company? Many experts point to your ability to operate faster than everyone else as the key determinant in your company’s success.”

http://www.inc.com/chris-heivly/speed-kills-your-competitors-slow-kills-your-company.html

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