Leaders: "If you want to speed up, slow down..."
If you want to speed up, slow down. Focus on getting the basics right and really understanding your customer needs (external and internal) – this focus will provide the energy needed to truly scale up your business. When you have 100% commitment to solving your customers’ problems, and you know exactly what those problems are and how they manifest, your business will grow through its own power. Too often leaders are in a hurry to grow and skip this critical part of strategy development.
The benefits can be huge. According to David and Aktinson, “firms that “slowed down ?to speed up” improved their top and bottom lines, averaging 40% higher sales and 52% higher operating profits over a three-year period.”
“Firms sometimes confuse operational speed (moving quickly) with strategic speed (reducing the time ?it takes to deliver value)—and the two concepts are quite different.” To drive long-term value and scale your business, make sure there’s total alignment and customer orientation. That’s where the rubber meets the road.
“[High-performing companies] became more open to ideas and discussion. They encouraged innovative thinking. And they allowed time to reflect and learn. By contrast, performance suffered at firms that moved fast all the time, focused too much ?on maximizing efficiency, stuck to tested methods, didn't foster employee collaboration, and weren't overly concerned about alignment. Ultimately, strategic speed is a function of leadership.”
Get your team aligned, communicate clearly, and focus on your most important goals – that’s how to achieve maximum business velocity.
This is an excerpt from my e-book "Scaling Smart"
B2B, Key IT Software Successful Sales Team player & Counseling @ DATAVENIR - France Africa Europe Switzerland | Circular economy minded ?? | Open to collaborate on new challenges ?? | #circulareconomy#opencollaboration
9 年So simply said....:)))
EVP Venture Development & Innovation Strategy @ Arizona Commerce Authority | Entrepreneurship and Economic Transformation
9 年I often say it's important to react exactly the opposite to what your emotions say in tne moment. If you're nervous, you'll push... It's exactly then when you should back off.