Are Fashion World And Simply Be The Same Company The Need For Speed

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The Need For Speed

In the world of athletics, there is a widely accepted principle that says: “Speed ​​Kills”. In most sporting events, speed will prevail over strength, and often speed will end up being the deciding factor between victory and defeat. As important as speed is on the field, it has been my experience that it is even more important in business. While there is little debate that speed can create an extreme competitive advantage, it is not well understood that the lack of speed can send a business (or a person’s career) into a death spiral. Agility, agility, determination, commitment and focus all lead to the creation of speed, which results in a certainty of execution. In today’s blog post, I will discuss why you should feel “The Need For Speed.”

General George S. Patton said it best: “A good plan violently executed today is far better than a perfect plan tomorrow.” The pursuit of perfection is one of the great opponents of speed. In fact, at the risk of being controversial, I will take the position that perfection does not exist. I hate to break it to you, but those of you who consider yourselves perfectionists are simply exhibiting perfectionist tendencies in an unrealistic attempt to achieve the unattainable. The pursuit of perfectionism does not result in an increase in quality, but it will result in time delays, cost overruns, missed deadlines, and unfulfilled commitments.

There are those who would argue that speed is synonymous with undisciplined decision making, but I would caution you against confusing speed with reckless abandon…I am a big believer in planning, assessment, analysis and strategy, but only if it is concluded in a timely manner. “Analysis paralysis” leads to missed opportunities and failed initiatives.

Earlier in my career, I served as Director of Internet Strategy for what was then the world’s largest web enablement company. While serving in this position, I coined the term e-velocity, which we trademarked and used to describe the impact technology was having on the pace at which business had to be conducted to remain competitive. It used to be acceptable to take 12 to 18 months to roll out an initiative, but in today’s world you better be able to do it in 90 days or it will be out of date by the time it gets to market. When I started in business it was usual and customary to make 5 and 10 year business plans and today I work from rolling 90 day tactical business plans.

Recent advances in Business Process Management (BPM) have seen a reduction in the planning and budgeting cycle from 120 and 90 days to 45 days. But is 45 days good enough? How many days make up a responsive cycle time? Many believe that the correct number is between 5 and 10 days. Why is it important to reduce cycle time? Because shorter planning and budgeting processes facilitate greater flexibility and responsiveness. Email used to be the killer app and now it has been passed…My digital communication preference (along with most of my colleagues) has moved away from email to instant messaging (IM), with IM now accounting for approx. 70% of my messaging activity (see a previous blog post titled “The Power of Instant Messaging”).

In today’s competitive business environment, you need to be able to quickly assess risks and make timely decisions. You cannot be successful being ruled by fear and hesitation. When in doubt, remember that “Speed ​​Kills” and that “he who hesitates is lost.”

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