Is Speed The New Top Currency In Business?
If you are not embarrassed by the first version of your product, you've launched too late. Reid Hoffman (Founder LinkedIn)
Interesting thought, Reid!
It perfectly mirrors the paradigm shift that is taking place in our today's highly competitive economy.
New businesses prefer that their brand is associated with innovation and speed to market, even though the early adopters of their product will need to forgive them some quality issues.
Is speed the most valuable currency in our New World's economy?
Picture: Rider | @surfermarly speeding up
The New World Seems To Be Fast
We need to speed up to be good.
At the "Digital Transformation Panel" of the World Economic Forum 2016 in Davos, Marc Benioff (CEO Salesforce) said that:
Being able to move quickly to catch the wave of market forces is more valuable than cash. How we grew our business was speed. You just cannot go fast enough. If you’re not going fast enough, someone else is. That’s why we all have to be a little bit scared and we all have to go a little bit faster. Source
Technology is able to provide business operations with speed and scale. That's why the reaction time we have for our decision making is constantly decreasing.
There are no excuses. You're either fast or out.
Keeping with the above mentioned conference in Davos, during the panel Marc Benioff took his iPhone and said:
We all have these incredible devices. This makes everything go faster. This is what is making everything go faster, because communication is just happening faster and faster.
Technology is supporting agility, and we have to deal with that. We need to adapt to that progress.
Even if we are thinking that most of our jobs will be done by robots in the future, human beings will still remain irreplaceable in certain roles and positions.
So we need to adapt our decision-making skills to that new environment.
An organization's journey to excellence begins ones it ceases to sacrifice quality for speed. Neil Beyersdorf
The idea is still not 100% worked out? The product still hasn't passed all the quality checks?
No problem. The price for speed is quality. We're aware, and it's fine.
We can't have it all.
Probably being first in the market is much more valuable than being the best?
Probably.
Nobody will remember the ones who followed the leader into the market.
So the next time you have a brilliant idea for a steemit article, you'd rather publish it right away. It doesn't need to be perfect 😉
Have a great one,
Marly-
Title image is original content; "Leadership Quote" found on doublequotes.net; "Golden Triangle" found on http://blog.tbhcreative.com.
So good to have you back daily!!!
Not sure if I'll be able to post on a daily basis... Right now there are no waves coming in and I can't produce new footage. I'll send a tip to God asking for a good swell, do you think he'd prefer Steem or Bitcoin? :-D LOL
Actually when I wrote my last post that did really well i followed your advice. I had this idea and did some very basic analysis. However i felt there should be more details and more analysis. But then decided to post and write it down rather than wait, ponder and analyse more.
That article you're mentioning took of to the moon, I'm so proud of you!!! Second best on the platform that day, what a great achievement!!!
Perfection is relative, and sometimes 80/20 is sufficient to boost a piece of content. Your evaluation hit the nail, touching a topic a lot of people are excited about. The value of Steem and Steemit compared to other market members is highly interesting, and you opened a new perspective on how to evaluate it.
We can all learn from you how to do it best :-)
Great article. "Better done than perfect" is a mantra these days. However, I have mixed feelings about that.
Me, too. I've always been a defender of quality.
David Muñoz, a Spanish star chef, would say: "Solo vale la puta perfección." (The only thing that counts is the f....ing perfection.) If you consider his example this is absolutely true. He's investing a lot of time and dedication to get "the perfect dish". Good is never good enough. People appreciate that and pay a fortune for a dinner at one of his restaurants. They have waiting lists of one year!!
So his success story proves that there might be niches where quality is still much more appreciated than efficiency.
However, when talking about digital markets (which I actually wanted to touch here), quality is considerably losing its reputation.
oh no.... it was and is still Cocain, lol :)
LOL!!! I kann nimmer
Does this mean you're officially back!? I've really just been seeing some resteemed topics since you've taken your hiatus.
Great article though... I love coming across business related materials on here!
I will forgive you that you've not seen my "come back post" so far...:-)))
https://steemit.com/video/@surfermarly/here-s-what-happens-when-a-musician-and-a-surfergirl-meet-on-steemit-com-and-decide-to-cooperate-community-project
Thanks for the compliment. I enjoy writing about business from time to time (especiall when there are no waves coming in as it is the case right now, LOL).
Awe man... I did miss it! I just checked it out though- and I absolutely love that guy's sound! Followed him per your suggestion :)
I'm glad to see that you're officially back in action though!
Hehe, I'm happy you like it!! :) Drew is amazing, no doubt about that. I've a couple of more songs from him, so there will be more videos of us in the future.
See you around!!!
Exactly. Speed does plays an important role. Quality of product can be improved in later stages with suggestion. :) @surfermarly . Just look at Steem, they were not perfect the day they launch and still they're not as they are in beta version but people are loving it and are providing some good suggestions. So surely steemit will be become more better in upcoming days . Post it whatever your content or product is regardless of perfection :P
Absolutely. I was actually thinking about Steem/it when writing this article :)
There is still that "beta" logo at the top left corner, that reminds us of our early adopter's role every single day. Feeling good!!
Thanks for stopping by and leaving your thoughts, @arvindsingh!
Hahaha... we're early steemers. Kudos !! @surfermarly :)
We're pioneers!!!!!!!!! Shoot!
they are still not perfect, but that is ok. They keep improving and beating all others .....
exactly @knircky but the best part is that they're in market regardless of imperfection and they'll improve as the day passes. same happened with facebook :)
That's why you do fast mockups and look at the feedback... Or that's why you release alpha or beta software (like Steemit) to capture the market first and afterwards improve the quality!
Great to see you posting again @sufermarly (:
Hehe, great to be here again :) Thank you!
I fully agree. Steemit is the very best example. That "beta" symbol at the top left is proving that we're early adopters and part of something promising :)
See you around!
Hot pic
Maybe switch from surfing to a biker babe?
LOL thanks - I'm a rider, no matter the vehicle :-DD
The Quality-Cost-Time cycle is an ever-changing cycle.
I've been fighting with it in one way or another since 1996.
Haha! I've been doing the same... since... let me count (shit, I'm getting old)... ehm... 2004. LOL
When I started working at a company, the motto was
"Quality First, Customer Always" <-- Quality
then it went to
"Revenue is King" <-- Cost
and then there was
"Strive for 95" (95% of product reached the customer on time or better). <-- Time
They seem to be swinging back to cost again for this next cycle with free cash flow.
P.S. I'm glad you are back. :-)
It's as you said: an endless fight inside that magical triangle.
These are all powerful claims, and every single one has its own right to exist. It's a question of focus that surely depends on the market segment you're in and the product you're dealing with.
PS: I'm happiest, too! Feels good to be back. Thank you :)
Hey @surfermarly , I have started a podcast recently where I interview other entrepreneurs.
The podcast is on my youtube channel, and here is the playlist: https://www.youtube.com/playlist?list=PL5CpCNPna6p95oJfKPew0N3ZT0k-khdgg
We talk about what you are currently doing in life, your business as well as your journey and any lessons or advice you want the world to know.
A casual conversation about entrepreneurship, and, about you.
Would you be interested in appearing on the show?
If so, then it is an audio only interview and will be done over Skype.
Please go to this link and pick a time that best suits you: https://calendly.com/adriannantchev/entrepreneur-podcast
Hey @nantchev! I feel really honored, thank you.
The only thing is that I don't know if I'd be "technically" able to participate in a podcast. It may sound weird to you, but living on a small island means that we don't have very stable internet connections. I usually don't even skype with my friends, so an interview would be even more complicated.
I'd be open to any written interview, but I guess that's not your way of doing it?
Anyways, again thanks a LOT for considering me!!!
I'd prefer audio. What is your connection like: http://www.speedtest.net/