Speed is one of the most strategic elements a company can use to attract and retain customers and drive its revenues.

What do I mean when I talk about speed? In this context, speed means dramatically reducing the amount of time needed to complete a task by altering factors such as empowerment, employees’ mindsets, and organizational policies and systems.

Lack of empowerment is the major barrier to speed. It’s not just a speed bump on the road; it’s a 20-car pileup positioned directly in your path. Empowerment allows employees to make quick decisions that benefit customers—internal and external—without having to get permission from someone higher up the corporate ladder. It’s critical to eliminate policies and procedures that prevent empowerment, which prevents acting quickly.

Another barrier to speed is the mindset of employees, which for most of them is set on one speed: Slow. You must create a different mindset—a willingness to actively look for ways to perform quickly. If it normally takes five days to complete a task, do it in five hours. If another task normally takes one day, do it in one hour.

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