Is Speed Important In Transformation?

“Speed Kills” – Al Davis

Speed is highly valued in every pursuit. In sports, it’s the metric that often separates top performers from the rest. Athletes who excel in specific areas requiring speed tend to outperform others.

Football and running speed. Baseball and pitching velocity. Basketball and speed of release. Hockey and wrist speed. Golf and swing speed.

The list goes on and on.

But does speed’s importance translate to business and transformation initiatives? Does it really matter if it takes 3 months or 3 years to complete a transformation?

Yes, and here’s why:

Competitive Advantage

The ability of your business to be able to transform quickly gives you an advantage in certain situations. In today’s world of short attention spans, being able to capitalize or extend your business’s momentum is vital.

Risk Mitigation

The ability to move through transformations or act with speed allows businesses to take greater risks and avoid risks simultaneously. Possessing the capability to pivot when a project is not going as planned or attempting an initiative that has risk involved because of your ability to turn on a dime later in the process if need be, is a huge advantage to companies that struggle with change.

Analysis Paralysis

When you are worried about your speed to reach an objective, this can lead to delays in making decisions. One’s mind can get in the way of making the decision because once a path is determined and it gains momentum, it will feel like a snowball barreling down the mountain, with no ability to change course.

When making the initial decision, typically, “good is good enough” to get going and get started.

Talent Retention

Is there anyone you know that is super talented and moves slowly? The answer is no, because talented people move quickly and succinctly so they can move on to the next task.

When you foster a culture of speed and agility and empower your employees and business executives to make decisions, you will attract and retain talent at a much higher clip.

So, what do you need in order to move quickly and precisely?

Approval Matrixes

We previously have spoken about the benefits of approval matrixes and why they are important to businesses but in a nutshell, it allows for speed on decisions that can be made quickly and requires more input on more dramatic changes within the organization or company.

Remove the unnecessary layers of approval and the ridiculous bottlenecks and let people earn their keep by doing what they were brought in to do.

Over-Communicate

When it takes months to make a decision because everyone and their mother’s signature is needed, there is no need to communicate. Everyone has to sign.

When you streamline decision-making, communication is paramount. Everyone needs to be in the know and over-communicating is essential to keep everyone rowing in the most efficient way possible.

Leadership Who Recognize It

If you want to incentivize certain behaviors, when those behaviors are performed well, they should be recognized and applauded.

It doesn’t take much but the monthly shout-out based on xyz team completing abc project in under 2 weeks will foster continued speed and agility within your organization.

Quit restricting your talented team from making the necessary decisions and let them flourish.

Let’s get to work.