peed manifests itself in many ways:
- Product development cycles get compressed to introduce new technologies and stay ahead of the competition;
- Startup's are advised to advance "minimum viable products" to the marketplace so they can "fail quickly;"
- Profitable market niches or advantages are quickly identified and attacked by competitors seeking to gain market share.
For consumers, quick response and speedy delivery are often the primary reasons for doing business at all, as demonstrated recently
by Jeff Bezos, Amazon's CEO, who apparently intends to use drones to deliver goods within 30 minutes of the time they're ordered. (Walmart, watch your head!)
But speed can kill if you're not watching where you're going. Much as the marching band crashed into a brick wall by blindly following the leader in the movie Animal House, companies often chase the market leader with me-too products and services, without much differentiation or chance for real market success.
And so with that cautionary tale in mind, and if your company or organization needs to get faster, here's just a few things you might do to shift to a higher gear:
- Introduce a systematic "innovation process" to continuously evaluate market opportunities to create strategic options, support your core businesses or build new businesses
- Employ a continuous business planning environment for management and organization alignment, resource allocation and ongoing performance assessments against objectives.
- Engage your entire organization rather than just a few individuals in these processes to gather new, diverse ideas for change and to create an innovation culture.
- Start small by introducing a couple of ideas to learn how to use the tools and change processes and reinvest in the ideation experience.
Sir Issac Newton's (who knew a bit about speed) First Law states that it's easier to accelerate once you're moving than from a standing still position. The trick then, is to start moving in the first place, lest you become an easy target for a falling apple (and your competitors).
P.S. Speaking of speed, congratulations to the Seattle Seahawks on their first Super Bowl win - a dominating performance!