In every business and activity there is a level of security and a level of speed, and they sometimes work one against the other. The faster the action, the less protection you can expect to have. Also, with a faster action you can have higher gains, as well as higher losses.
It is easy to understand with physical objects, like a race car compared to a bus. If you ride on a bus, you don’t need much attention or skill, and you can usually reach your destination with no risk, but you will never be able to win a competition.
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Yet there are situations where speed and safety go together, like in the real estate business, where you buy and sell properties with the maximum possible speed so to protect yourself from additional holding costs and from changes in the market that could affect your prices. So here you have faster processes that equate to higher safety.
Therefore it is not always true that “slowly” and “safely” go together, although you definitely need skill in order to move fast and well. Lack of knowledge or skill can create damages in direct ratio to the speed with which you operate. If you do a mistake ten times faster you will accomplish that much more damage.
So it is a trade off: when you start you should look for the maximum level of safety, even though this means less business and less gain. You will have the time to get familiar and to win at your job while you develop the skills you need. You need to get your feet wet a few times before you can master a trade. Then you can speed up, leaving gradually more and more levels of protection behind you.
But also make sure that the people who depend on you can bear the same speed and feel comfortable with it. Disclose in writing any potential risk and if they don’t feel comfortable, keep a lower speed while waiting for them to relax, or look for partner who can move as fast as you. Striking a good balance on this will make all the difference in the world in terms of smoothness and stability of your activity. And you will enjoy much more your relationships.
Roberto Mazzoni
[New Post] How fast can you go with your business? – via @twitoaster http://www.robertomazzoni.com/business-t...
I really like your blog and i respect your work. I’ll be a frequent visitor.
Roberto,
I am a frequent flyer reading your blog most every day. Thank you for your interesting, inspiring and informative messages. Wishing a Peaceful and Prosperous New Year for you and your family.
Great blog post to deconstruct the common intuition “slower = safer” In this new age things are changing at faster rates, for a business to survive it must be able to adapt quickly. The typical problem with most businesses is that they do not have the processes in place to manage constant change, and security, or the way things are, is the rule. It reminds me of the quote, “If you focus on results, you will never change. If you focus on change, you will get results.”
I found this post from your Twitter (robertomazzoni) account. My Twitter account is ericfdouglas. Thanks for the great blog post!
Best regards,
Eric F. Douglas
Author of Leading at Light Speed