One of the most important things you must entrench in your startup’s culture is the capacity to carry out speed execution. Have you heard of the term, “delay is dangerous”? This is very true in the business world. Founders who delay in decision-making, especially in a time when speed is crucial to execution and success, will find themselves losing out.
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Developing a startup that carries out speed execution in its business process will make you a natural leader in your industry. Also, there are several benefits of speed executing an idea. First, it allows you to decide the trend in your industry, thus marking you out as an industry leader. Second, speed execution allows you to enjoy market dominance. Third, speed execution helps you to sustain customers’ satisfaction. Fourth, it helps you to experiment on many things as fast as possible, thus making your startup innovative.
In this article, I will teach you how to incorporate the art of speed execution into your startup culture.
Studies have shown that too much meeting skills productivity, causes delay and as well increases confusion. Many startups make the mistake of engaging in needless meetings. 30 to 45 minutes is enough for founders to brainstorm and draft an execution plan. Rather than hosting needless meetings, founders must know when it is important to meet. Nothing everyone’s opinion is needed for every decision and not everything needs brainstorming. Send a memo to everyone and get feedback if you need them.
Speed is everything today. And the best way to have a culture of speed execution in your startup is to identify what works, what can work, and what has worked. Hence, you must learn to document past processes and reuse them again and again. For example, rather than waste time recreating an email marketing list of customers, use MailChimp and other marketing automation platforms and email marketing services for managing mailing lists and creating email marketing campaigns.
Move Fast, Measure, Iterate
Don’t wait until you are 100% sure of an idea before you execute it. The big truth is this, no product is perfect, and you keep working and improving on it as time goes on. The most important thing is to get the idea out there fast before someone else does.
If You’re 70% Sure, Execute It
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Once the idea can become a usable product or process, execute it. In the long run, you can choose to scale it up.
Creating a work environment where there are no bottlenecks and red tapes will lead to a culture speed execution. On this note, two things can be done. It is either you draft a playbook that directs team members on what to do in any circumstance or bring on board experts with experience who knows what the startup’s goals and objectives are about and know how to go about it without supervision.
Getting real-time information from customers will help startups incorporate changes as quickly as possible. This is where an active customer service platform and helpdesk should be part and parcel of the business process. Today, with Machine Learning and Artificial Intelligence tools like chatbots, companies can get real-time data.
Allow Decisions Without Approval
Entrenching a risk-taking culture in your work environment can create a speed execution culture in your startup.
Encourage Team To Take Risks
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Hence, founders must trust their employees enough and grant them some form of autonomy to think and act independently.
It is natural to be discouraged by failures. Some failures can be discouraging to a point that they might affect your drive. This is why you must incorporate the idea of viewing failures as lessons.
As a leadership style, leading from the front means playing an effective and visible role in the everyday running of a company or organization. Business leaders who adopt this style choose to connect with team members, customers, and stakeholders on the “front line” of the operation
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This article was first published on 4th July 2022