The Need for Speed: The Most Effective Way to Move Quickly is to Make the Right Decisions the First Time

June 5, 2024

Speed is often touted as a critical factor for success, with businesses of all sizes striving to move swiftly to capitalize on opportunities, stay ahead of the competition and save money. However, there’s a crucial nuance to this need for speed: it’s not just about moving fast; it’s about moving fast in the right direction. Here lies the distinction between mere haste and effective leadership.

Nothing slows progress more than having to re-execute work that wasn’t the right thing to do in the first place. Leadership’s role isn’t to steer the business, it’s to steer the business in the right direction. It’s not merely about making snap judgments or racing to beat arbitrary deadlines; it’s about knowing how to make decisions, leveraging expertise and learning quickly.

Determining whether a decision is good or not is complicated. However, here are several indicators that can help a business leader assess the quality of their decision:

1: Did the decision follow the appropriate process: Different types of decisions require different decision-making processes; unilateral, collaborative, consensus or otherwise.

2: Was the decision informed by data and analysis of quality: Effective decisions are based on thorough research, analysis, and data-driven insights.

3: Did the action plan consider risks and uncertainties: A good decision acknowledges there are unknowns and evaluates potential risks, mitigating strategies, and contingency plans.

4: Did the decision achieve the desired outcomes: Leaders should evaluate whether the decision yielded the desired results, achieved stated objectives, and contributed to the overall success of the organization.

If not, what are the ramifications? What is the root-cause of the failure? Is there a mitigation plan in place, are decisions made in the context of continual learning/improvement, or do more significant changes in the decision-making team and process need to be made?

Moving quickly in the right direction is the hallmark of effective leadership. It requires a delicate balance of speed, agility, and strategic foresight. To unlock the advantages of agility, leaders must prioritize not just moving fast, but moving fast in the right direction.