SPEED of Implementation
In mid 2009 I attended a business conference where over 10 guest speakers, all of which were self-made millionaires and business owners spoke. I took over 15 pages of notes and condensed those down to just one single page. While reviewing common themes from the 30+ hours of advice from these professionals the only piece of advice which each expert mentioned and emphasized was “speed of implementation.” Since that conference I have developed a deeper understanding of this concept, figured out how to apply it to my business, and why it is so important.
In short focusing my attention on increasing my speed of implementation has brought my productivity, motivation, and sense of progress to another level. Increasing your speed of implementation means making decisions faster, receiving feedback faster, and adjusting and growing further more rapidly as well.
With everything in life we move through learning curves whether it is starting a new career, starting a new business, or launching a new product. Speed of implementation is about moving up that learning curve 3x faster than your competition so by the time they have reached the top of that first curve you have conquered three new areas of knowledge or ability. That may sound very loose and non-exact but stay with me here and I will provide some examples below.
In short you can speed up the success that you realize but analyzing what actions you know will need to be taken, whether you know what the following steps are or not. Many times in life we cannot see the full path to success, only a few steps that we could be taking right now. If you seize those first few steps more quickly than others additional paths of actions will unfold that others who are contemplating the risks of the unknown will never be able to see.
Applying speed of implementation requires a fundamental understanding how it will help you reach a level of breakthrough success that surprises even yourself. Within the diagram below you see four letters: A,B,C,D, followed by a single letter T.
A –> B –> C –> D –> T (Breakthrough Success)
Steps A, B, C of most projects are obvious, you know what first steps you need to take…yet step #20 which is T is so far removed from the knowledge and foresight you have now that the project seems unachievable, unrealistic, or risky. The result? Typically we enter gathering more information and asking others for their opinion mode. This has its time and place but 99% of the time if you would just start on Steps A, B, and C, by the time those are complete you would have a much better vision and more clarity on exactly what steps D, E, F, and G are. Once you get those next steps complete through G you may even be able to see all the way to step L, etc. Eventually you will get to T, step #20 but there is no way that you can get there without first going through the iterative process of taking the first steps that are clear right now.
In short you can evolve faster, meet your goals sooner, and over a short period of time out-pace everyone around you in your industry by just taking massive action within the areas where you have identified the next 1-2 steps to take.
- Richard Wilson
p.s. This is a topic that we teach every time that we hold one of our full day live hedge fund training workshops. Without understanding this principle someone with less resources and experience can move past you very quickly in the industry. This is just as important for hedge fund marketing as it is for hedge fund career management or running a hedge fund business overall.
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