Speed of execution is the moat inside which live all other moats. Speed is your best strategy. Speed is your strongest weapon. Speed has THE highest correlation to mammoth outcomes. Those who conflate speed w/ ‘thoughtlessness’ haven’t seen world class execution @ speed. E.g.:
Many confuse speed w/ impatience. Impatience is your boss pinging you @ 9pm then calling @ 6am to check if a task is done. Speed is strategic. It is a permeated sense of urgency built w/ a shared belief that what you are doing is important & if you don’t do it, someone else will.
Speed has a LOT of benefits. Rapid rollouts builds traction & moats faster→ more wins→ better morale→ more success→ better PR→ attracts capital @ better valuation→ attracts stronger people→ more success. Eric Schmidt used to say Revenue solves all known problems, but…
So, how to identify sluggishness in your company? Found a strong VP of sales→ took 7 days to close? Close in <24hrs. Hired a bad salesperson→ took 6mos to fire? Fire in <60d. Product sprints are 4wk? Do in <2wk. Growth slowing, but took 2 mos to call all-hands? 🤦♂️CALL TONIGHT!
.@hubiloconnect (@LightspeedIndia portco) saw their revenues fall to $0 in Mar’20 as offline events shut down due to covid. In 20 days, they pivoted to virtual events: reduced sprint cycles to <5d, worked weekends, built an MVP & got 1 client@ $250. They are now touching 10M ARR.
Speed works! Speed of execution is the moat inside which live all other moats. Speed is your best strategy. Speed is your strongest weapon. We are obsessed with speed. If you are a founder who loves speed & can keep pace with Lightspeed, we’d love to hear from you! /end.Follow @MohapatraHemant