The other day I was wrapped in a conversation about speed and it reminded me of a very interesting blog post in the Harvard Business Review I read last year about General Electric applying concepts of Lean Startups to appliance design. The part that resonated with me is the emphasis on speed.
Having worked in several startup situations I cannot overemphasize how important speed is. Speed is not just important in creating, producing and launching products. Speed is important in our ability to pivot from one approach to the next.
Speed is important in delivering service to the customer. Speed is important in your marketing approach. When you are competing to become a player in a new market, or as a competitor trying to take share from a dominant player in a market, you don’t have the luxury of deliberation. You need to make decisions quickly, make changes quickly and, yes, make mistakes quickly. If you do it right, you will implement what you have learned while your competitor is still figuring out what to do. If you do it right, when your competitor reacts you will have moved on to the next important business cycle. Today we place a lot of emphasis on risk and cost.
So much so we forget the value of speed. Brad Power says it well in the blog post: “Traditional financial systems are risk mitigation tools, and there is typically no weighting on speed. These systems often don’t calculate how much money is wasted because you don’t get products in front of customers soon enough, or the risk of going out of business.” It isn’t just product design and delivery that benefit from speed. Our supply chain systems are the same way. With global sourcing and long lead times many supply chains are unable to rapidly sense, pivot and deal with demand and supply variability. -
Write a comment
Angella Provenza (Thursday, 02 February 2017 11:33)
Excellent goods from you, man. I have understand your stuff previous to and you're just too magnificent. I actually like what you've acquired here, really like what you're stating and the way in which you say it. You make it enjoyable and you still take care of to keep it wise. I can not wait to read much more from you. This is actually a tremendous site.
Kimberli Santo (Thursday, 02 February 2017 14:10)
Hello there! I could have sworn I've visited your blog before but after looking at a few of the posts I realized it's new to me. Anyhow, I'm certainly pleased I stumbled upon it and I'll be bookmarking it and checking back regularly!
Jada Alejo (Friday, 03 February 2017 07:52)
Wonderful items from you, man. I've be mindful your stuff prior to and you're just too fantastic. I actually like what you've obtained here, certainly like what you are stating and the best way in which you say it. You are making it enjoyable and you still take care of to keep it wise. I can't wait to learn far more from you. This is really a tremendous site.
Albina Brin (Saturday, 04 February 2017 04:31)
Greetings! Very useful advice in this particular article! It is the little changes which will make the most significant changes. Thanks a lot for sharing!
Mui Yarber (Sunday, 05 February 2017 23:30)
WOW just what I was looking for. Came here by searching for %keyword%
Helena Ferrer (Monday, 06 February 2017 01:08)
I always spent my half an hour to read this blog's posts every day along with a cup of coffee.
Arleen Calnan (Monday, 06 February 2017 20:20)
constantly i used to read smaller posts that also clear their motive, and that is also happening with this article which I am reading at this time.
Flo Griffie (Tuesday, 07 February 2017)
Hi! I know this is somewhat off topic but I was wondering which blog platform are you using for this site? I'm getting fed up of Wordpress because I've had issues with hackers and I'm looking at options for another platform. I would be awesome if you could point me in the direction of a good platform.
Ulysses Calder (Wednesday, 08 February 2017 09:34)
This is very interesting, You are a very skilled blogger. I've joined your feed and look forward to seeking more of your magnificent post. Also, I've shared your web site in my social networks!
Mickey Orange (Thursday, 09 February 2017 06:24)
Nice blog here! Also your website loads up fast! What host are you using? Can I get your affiliate link to your host? I wish my web site loaded up as quickly as yours lol
roku com/links (Thursday, 19 September 2019 01:46)
That is a really good tip especially to those fresh to the blogosphere.
Simple but very precise information… Thanks for sharing this
one. A must read article!
https://www.roku-com-links.com/