Speed is important
Often overlooked, speed can be the difference between a successful business and a struggling or failed business. If you’re setting up a new business selling a new product being first to market is critical, if you’re an already established business being able to adapt in a small time frame is essential.
When you first start up a new business you will find that there are so many different things you need to do, that sometimes you will find it overwhelming, as such its really important to find the most efficient way to do something, and indeed to invest the right amount of resources to ensure that you can meet you targets in the right time frame. Some things to consider are;
Make sure you have a good way of knowing what you need to do and by when - For different people this can mean different things, from keeping a simple to-do list to creating a project in a sophisticated application. Whatever works for you.
Know when to delegate to work - This will allow you to concentrate on important tasks that need to be done quickly.
Introduce the concept of a feedback loop - That is a way of knowing when something is working or not, and what to do to make it work. A feedback loop is critical to allowing you to make small refinement changes the incrementally improve your business.
Introduce the concept of acting quickly - In every aspect of your business, from filling out important forms to responding to clients, set yourself targets and make sure you measure when you meet them and when you don’t.
Actively seek ways to improve your business speed - This can be as simple as setting up document templates, to purchasing machinery that can output products quicker.
Page load speed - If you run your business primarily through a website make sure its quick. That pages load within 3 seconds, and people can navigate though it efficiently.
Streamlined ordering process - If you have an ordering process concentrate on reducing the time between a customer seeing the product they want and placing an order.
In the history of business speed has been one of the most overlooked aspects, yet time and time again it has proven critical to business success.
