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Meet the Demand for Speed

Posted by: Rod Kurtz on August 18, 2008

Realize that the swiftest competitor, not necessarily the smartest, is often the winner in today’s marketplace. Speed is increasingly of the essence, no matter what business you are in.
Consider incorporating the following suggestions into your operations:

Respond to sales leads quickly. One small business requires staff members to follow up within the hour, by e-mail, fax, or phone.

Get comfortable with rapid, strategic decision-making. Five-year planning horizons are out the window.

Compress your timetables. One Internet startup rolled out its expansion efforts in a reduced time span of 45 days instead of the originally planned year, beating out competitors.

Make speed a part of your corporate culture. Reward employees’ swiftness with stock options, bonuses, or other perks.

Ken Yancey

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