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Useful Tips for Business Speedup

Updated:2017-8-14 15:08:33    Source:www.tannet-group.comViews:118

Business today moves at dizzying speed, with new markets, new memes, new technologies, new threats, and new opportunities arriving every hour if not every minute. If you're running a small company or department, and you have limited resources, how can you keep adapting quickly enough to keep up with this rapid change? Below are some useful tips.

1. Ditch the weekly or monthly status meetings.
Not only are the meetings themselves a huge time suck, you can't afford to spend time waiting for the next meeting while an issue goes unresolved--at least not if you're trying to move fast. It's much more effective to communicate in real time instead.

2. Let your team own both their work and the company.
You have to have people treat it like they own every aspect of what they're working on. It could be a background process, it could be the app itself. Whatever you produce, you have to be fully committed. And the only way to do that is if you're a part owner of the company, and the only way to do that is to have a good stock option plan so that everyone's incentives are aligned. That's really the only way we can get everyone working toward the same goal."

3. Know where you're trying to go.
When you're building a business you need to be able to say, 'Here's my vision for where we end up. You may take a different path and end up in a totally different place--which may be a great place to land. But you won't know whether or not you ended up in the place you intended if you didn't set out a vision for where you wanted to go. It's critical to understanding your company. It's also critical for eliminating extraneous dead ends and tangents.

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