Speed is nothing without efficiency, but this can be said for efficiency as well. Both concepts need each other to survive. But what really is the speed in business? Does faster always equal better? In short, the answer is no. However, speed does give you more options. It saves time, which can then be used to solve other problems. Speed in business also gives you more room to breathe as the faster you can get a project completed, the less pressure you will feel over deadlines. There are many different ways speed can be increased in your business, but you will need to make structural, logistical and software changes to achieve the optimal results.
Maintain a good intellectual base
Confusion leads to time being wasted, and then it doesn’t matter if you have a fast engine or not. Employees should be able to answer any question that starts with ‘why?’ during a project. This is often called maintaining a good, solid, intellectual base. Managers must become thought leaders that get their influence from the executive team who makes the major decisions. This requires the managers and the heads of department to work closely together, not just in designing a plan to implement projects and changes, but to understand why the company is going in a certain direction. Therefore, debate and discussion at the upper and lower levels must coincide with each other. This is often called ‘maintaining an insurgency’, i.e. an attitude to probe and attack your motives and desires to see if they hold water.
Adaptable to the rush
Since we’re about to head out of lockdown and covid-19 has slowed down everybody’s business, you should be ready for a giant upswing. If you believe you will be receiving more than at least 2,000 visitors a month, you should hop off any kind of shared server and use a cheap vps. A VPS gives you a portion of a physical server but you’re not sharing bandwidth, features and speed. You can optimize your code, as well as install new features to suit your needs. The basic package starts at just 7.00 euros and for that, you receive 4GB of RAM and 50GB of SSD storage space. With increased speed, you can handle more customers and visitors on all your applications and websites.
The buck stops with you
Somewhere speed is of the essence is in executive and leadership decision-making. Cognitive factors that weigh on your ability to make quick yet sound choices consist of things that we experience in our daily lives. Trust, mental workload, the processing of information, and judgements, are all required to make decisions. One way you can speed up your cognitive process is to engage in daily risk management activities. Play chess, create mock scenarios like an economic crash to see how you would respond, play a competitive sport, etc. Engage in things where you have to think fast and you’re constantly weighing up the good and bad.
Leaders need to constantly test themselves to improve the speed in which they make tough decisions. Businesses must also adapt to increasing numbers of visitors to their websites as the lockdown lifts.