From the 100 Day Challenge with Gary Ryan Blair:
- Slow Costs More. Every second or minute that you can take out of process or activity saves you time and makes you more money.
- Speed is Sexy. Speed is the ultimate customer turn on.
- Speed is Impossible to Ignore. Speed brings with it a reputation of confidence, clarity of purpose and execution.
- Speed Trumps Size. In today’s world …it’s not that the big eat the small, it’s that the fast eat the slow. It’s the one competitive advantage that the big competition can’t duplicate easily.
- Speed Empowers Action and Change. Action is defined as the causation of change. You see, whatever result you want, it’s a change from what you now have. The faster the action, the faster the change.
Yes. Yes. Yes. Okay…one more loud YES!
As the owner of a virtual business, I can attest to the competitive advantage of Speed. In making decisions, implementing them, and changing course quickly.
Some may think it's because of technology, and that the internet has changed how business is done.
That's one reason.
Another reason is I have learned that the two businesses I own, an internet marketing business and an online marketing agency, have more competition than a brick & mortar business.
Example of Slow is Bad
PR Gone Bad
In 2010 a local public relations agency was rumored to be up for sale. I was approached by a business owner, SC, with a query of “are you interested in buying it?” I jumped all over it! Merging an existing PR agency with an existing Online Marketing Agency was the best idea – ever. SC assured me that she had already been approached, it was a matter of providing a ‘yes' or ‘no'. But, she was uncertain how to proceed. I brought in a business consultant friend to guide us. We were told exactly what to say, how to say it, when to make the offer (now) and when to bring in the attorney. I was excited beyond belief – SC was reticent, unsure if our ‘yes' would be accepted.
Two days pass – I call SC and said that I'm fully on board, able to provide funding and willing to partner.
Four days pass – I call SC and ask if she's set up a lunch with the business owner to let her know we're interested in having a serious discussion.
Six days pass – I call SC and ask “what are you waiting on? this is a long-standing PR agency with an excellent book of clients, great reputation, and ready to be taken on by an online marketing agency! if we don't do it, someone else will!” SC finally calls for a lunch appointment with the business owner for two weeks later.
I'm ready to pass out! Two weeks! And yet, I can't approach the business owner on my own because this all began with a private conversation between two people, and I wasn't one of them. It would be unethical for me to go behind SC's back.
Two weeks later, SC meets with me and tells me about the lunch with the business owner. SC told her we were interested in buying her PR agency. Business owner is flattered and wishes we had contacted her sooner – because she had already signed an agreement with another online marketing agency.
Should Have Made the Call
I was told by a business colleague that an international company was in need of an online marketing consultant. I was also told that this colleague had recommended me and the company was simply waiting for me to call them. I didn't call that day. I didn't call the next day. I decided to wait three days – to think about it. When I did call, the company representatives told me that they had waited as long as they could and were ready to sign a contract with another consultant. Big Opportunity – LOST.
Both instances show what happens when we are afraid to move forward – afraid because we might be wrong.
SC admitted to being overwhelmed with the possibilities and uncertain that she could fulfill her side of the partnership.
I was afraid of not being good enough.
Evidence was provided to the contrary in both instances.
Fear made us both slow to act.
Example of Speed Bringing Success
When I was first presented with the digital franchise-like business I am currently using (and selling), it took all of 12 hours (and I may be exaggerating) to complete the process of jumping on board. My experience came in handy because it was obvious to me that the education, support and personal development that comes with the business opportunity were top notch at a price that is significantly less than
- what I paid to open my online marketing agency in 2008 and
- what it costs to have me train and work with an individual
The formula is sound, the training is outstanding and exactly what I would train an individual to do, the products are excellent, the rewards are unlimited.
These are just a few of my experiences, a good balance of slow and fast decision making. I can honestly say that the faster I moved on an opportunity the better. The quicker I respond to clients and team members, the better.
If you're sitting on the fence, wondering of you should or shouldn't move on something – stop wondering and just do it.
If you're interested in an internet marketing business that provides you with excellent products, training, self development education and a team of supporters – then check it out here.
If you're more interested in moving on to the next opportunity, thinking about it, then moving on to the next one – more power to you. If you want success in business – it won't happen. If you want regrets – you will have a bucket full.
