There is a critical distinction between speed and velocity in business. The common misconception is that moving fast equates to progress. In reality, there’s an importance of direction and intentionality in achieving meaningful results. Doug and Jess explore the impact of prioritizing speed over velocity, the concept of “levels of complete,” and how a velocity mindset can lead to more efficient and effective operations.
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Show Notes:
Pre-Show Banter:
- It’s been one heck of a year already and it’s still January (when this was recorded).
- Jess is taking a full week off in the next couple of months to go on a cruise. Doug will make sure he finds a way to send her daily dad jokes.
- There are no movies to catch up on or talk about yet. January is never a good time to release a movie according to Jess.
- Doug and Jess talk about how they’re done with superhero movies. Doug mentions certain plot points in the Deadpool and Wolverine movie, so skip that part if you don’t want spoilers.
Main Discussion Points:
- Speed vs. Velocity: Speed is a measure of movement, regardless of direction, while velocity adds a vector, representing progress towards a specific goal. In business, speed can lead to busywork and inefficiency if not aligned with a clear objective.
- Levels of Complete: The concept of “levels of complete” emphasizes breaking down complex projects into smaller, achievable milestones. This approach helps maintain focus and avoid getting bogged down in perfectionism or constantly shifting priorities.
- The Importance of Focus: Prioritizing a few key initiatives and allocating resources effectively leads to better outcomes than spreading efforts thinly across numerous projects. Focus allows for deeper exploration and refinement, ultimately maximizing impact.
- Slowing Down to Speed Up: Slowing down the initial stages of a project or process, such as planning and strategizing, can lead to faster and more substantial progress in the long run. This approach minimizes rework and ensures alignment with desired outcomes.
- Reactive vs. Responsive: Reacting impulsively to problems can create further issues. A responsive approach involves careful observation, orientation, and decision-making before taking action. This approach, often referred to as the OODA Loop, leads to more effective solutions and prevents unnecessary complications.
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Coming Soon: Episode 111!