Speed Of Implementation – A Strategy For Rapid Entrepreneurial Growth

Speed Of Implementation – A Strategy For Rapid Entrepreneurial Growth

January 28th, 2010 @ MsMedia // One Comment

Tom Peters once said: “Test Fast, Fail Fast, Adjust Fast.” This is probably the most powerful thing you can do for your online business.

Speed of implementation simply means acting on your most profitable ideas and strategies as quickly as possible, failing fast, and moving on to the next idea.

I have to tell you this – since I adopted this strategic plan of implementing ideas, strategies, and projects faster in my business, my company grew exponentially.

Now, I wasn’t always like this.

As a matter of fact, I always thought that in business it was admirable to be a perfectionist. Until I read Joe Vitale’s “Attract Money Now”, in which he put it this way – “Money Likes Speed”. Being a perfectionist for sure sounds like a great thing, but it can hurt your business to the point of extinction.

Worldwide there are probably millions of budding entrepreneurs who never get their product or service out to the market. They feel it’s not quite good enough yet, and this can very easily drag out in time for so long that the project never gets completed.

I once knew a marketer and software developer who developed a software that he thought would be helpful for a lot of people. The first version wasn’t all that good, but his thinking was along these lines: “I’d better get my product to market before perfectionism kills my idea. I can always improve upon it later.”

This was exactly what happened. The product sold extremely well from day one, and that’s when the improvements were made. As you can understand, speed of implementation can hardly ever be over-estimated.

If you sit around waiting for your product or service to be perfect, well… That day will never come, and you will never achieve the business success you desire.

As entrepreneurs, we get a million ideas from all kinds of sources. Imagine if you could act on a majority of profitable ideas, one after the other. Fail fast, and move on to the next idea until you find the profitable ones.

In business and in life, the more profitable and positive ideas we practice the more successful we are.

Here are some of the obstacles that come in the way, and how you can overcome them:

1. Not prioritizing: Speed of implementation doesn’t mean that you have to act on every idea that comes to your mind. In order to make this strategy efficient, you have to have a system to ‘prioritize’ what’s important to you and your business. Act fast on the ideas that top your priority list and work your way down.

2. Procrastinating. We all do this. Harold Taylor defines procrastination as the ‘intentional’ and habitual postponement of an important task that should be done now. Did you hear that?

“Intentional” postponement of an important task. This means, if you ‘Intend’ to ‘stop procrastinating’, you can.

3. Limited time. This is probably the most challenging thing for most of us. But there are ways to get around it using ‘leverage’ and ‘help’ from other people. It’s a universal principle – “the more time you spend acting on profitable ideas, the more money you make.” For Example, let’s say, if you invest 8 hours in your business you make $5000/a month. If you have 5 well trained employees investing their time in your business, your business makes $25,000 or double that, per month. It’s just a simple concept, and it’s not very hard to understand.

Here are some things you can do right away to make ‘Speed Of Implementation’ a strategic action plan for your online business:

1. Keep a notebook where you write down every little profit idea that you come across. Update your list according to priority. Take off the ideas which do not make sense to you.

2. In your daily schedule of things to do, make it a point to invest a little time on acting on these ideas.

3. Find a partner, or someone who aligns with your goals, and have them invest some time in your ideas. Be sure to make it worth their time. If you cannot hire an employee, try getting your spouse involved in your projects.

Once your realize the power of ‘speed of implementation’, you’ll start seeing major improvements in your business and finances.

As a result, this progress increases your motivation to grow your business and achieve all your dreams.

Regards,

Abe Cherian

Category : Abe Cherian &Blog &Featured Work &How To