The most important ingredient for any startup or business is the element of speed. Speed is of the essence in war and speed is of the essence in startups or any business. When you incorporate speed into every part of your business, you can afford to make little mistakes along the way — and most importantly, you don’t have to be perfect in everything you do.
“Speed is the essence of war.” — Sun Tzu
When you deliver your idea with supernatural speed, even if your solution is not perfect, it’s still going to look fresh, cool and innovative to your market. They will become enchanted with your clear vision because even if it is not perfect, the element of speed brings some sort of perfection to it.
Once you enter the marketplace and "shock and awe" your customers, the next step in the natural evolution of your startup or business is to increase the speed in your next version of your offering. You can’t rest on your laurels, otherwise even a turtle-like competitor will catch up to you.
The need for the element of speed in your startup or business never ends. It’s a vicious cycle of always needing to be faster and faster. You’ll never achieve "fastest" because you will always want to be faster.
Now back to finishing my cup of Starbucks espresso. Tell me your thoughts by commenting below.
© 2013 entrepreneurdex
An entrepreneur and investor, with more than 25 years experience, he's worked with ventures in the technology, internet, media and publishing, entertainment, energy, and manufacturing sectors raising more than $300 million in capital for various companies and investing more than $50 million into startup and emerging ventures. He's sat on the boards of 11 companies, served as editor-in-chief of Futuredex, a private equity magazine. Follow Damir on Google+