The age of a tortoise winning the race is over. Speed is a strong differentiator. Time is not a renewable commodity, and therefore, customers prefer organizations that save time over even money.
It's no surprise that Domino Pizzas are bought more for their 30-minute delivery and less for taste. The overnight delivery by Amazon is the new normal. Google spits out search results before we even blink. Swiggy and Zomato refund you money if they significantly exceed the committed time. Companies are investing in technology, delivery, and accessibility with the sole aim of improving the cycle time.
Most often, we plan the big stuff. It needs a lot of planning and a considerably longer schedule. By the time we implement the solution, it loses its value if not become completely obsolete. In his book The Lean Startup, Eric Ries has proposed an approach of Build-Measure-Learn-Iterate. It essentially recommends fast prototyping, testing, and scaling up. It is, therefore, critical to get speed in the DNA of an organization. Else, we lose propriety over our ideas too!
"Today, you own ideas for about an hour and a half." - Larry Light, McDonald's Global Chief Marketing Officer.
Metrics:
List your initiatives. What can you do about it in the next 10 minutes? Please do it. Repeat this cycle till you feel accomplished.
Select energetic candidates. Energy is the best external indication of passion. Even an introvert who gets to do what he loves can't be without it.
Recognize people for their speed. For example, create a category of awards like - Speedster of the week.
Set big targets with the least possible time. A lot gets accomplished in a short time that we believe. I remember a story from the book The Art of Innovation, written by Tom Kelley, a partner at IDEO. IDEO took on the challenge of designing (watch the video) and prototyping a working model of the shopping cart in five days. Their team not only crushed the target but also got a stream of orders when they delivered.
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