5 Tips on Meeting the Demand for Speed

Hi

1. Realize that the swiftest competitor, not necessarily the smartest, is often the winner in today's marketplace. Speed is increasingly of the essence, no matter what business you are in.
2. Respond to sales leads quickly. One small business requires staff members to follow up within the hour, by email, fax or phone.
3. Get comfortable with rapid, strategic decision-making. Five-year planning horizons are out the window.
4. Compress your timetables. One Internet start-up rolled out its expansion efforts in a reduced-time span of 45 days instead of the originally planned year, beating out competitors.
5. Make speed a part of your corporate culture. Reward employees' swiftness with stock options, bonuses or other perks.

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