Speed in business
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Speed in business is a crucial factor for success, as highlighted by several experts across different podcasts. Here are key insights on this topic:
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Speed as a Habit: Dave Girouard emphasizes that speed involves making decisions quickly and acting on them efficiently. He highlights the importance of setting time frames for decision-making and involving the right people early on to ensure expediency in execution 1.
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Business Tempo: Zack Kanter differentiates between speed and tempo, noting that while speed implies rapid action, tempo involves sustained, efficient movement. He points to Amazon as a prime example of maintaining agility and frugality even at a large scale, focusing on steady, efficient progress rather than hurried execution 2.
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Speed in Startups: According to Elizabeth Yin, rapid execution on key priorities is a hallmark of successful startups. Hustle Fund assesses the velocity at which startups move to prioritize investment in those that demonstrate quick and effective action on their main goals 3.
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Execution and Reaction Time: Alex Hormozi underscores the importance of acting quickly on decisions to solve problems and break through bottlenecks. He argues that the faster a business can pivot and respond to challenges, the more rapidly it can grow 4.
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High-Velocity Decision Making: Jeff Bezos promotes the concept of making high-quality decisions quickly. He advocates for the "disagree and commit" approach, allowing teams to move forward efficiently even when there isn't complete consensus, thus avoiding delays in decision cycles 5.
These insights collectively suggest that in business, speed isn't just about moving fast but also about making timely and informed decisions, efficient execution, and maintaining a steady, sustainable pace.
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