Building sustainable velocity is critical to any business. Without it, it's difficult to achieve success. The first step in any successful business is creating a strategy. Once you have a plan, you need to build the process and structure to make it happen. We call this sustainable building velocity. It entails building the "right" processes, measuring (what is needed), testing, learning, and experimenting.
The question we need to answer in this post; "Why are my marketing efforts not going fast enough?"
There are a number of factors that must be considered when building sustainable velocity. First, you must have a clear vision for your business and what you want to achieve. Next, you need to create processes that allow you to achieve your vision. You also need to create a system that allows you to track and measure your progress. Finally, you need to test your processes and structure to make sure they are working and that you are achieving the desired results.
Sustainable building velocity is a process that requires continual effort and vigilance. It's important to keep track of your progress and make adjustments as needed. If you don't, you may find yourself falling behind and unable to achieve your goals. But with a little patience and hard work, sustainable building velocity is achievable.
So what is sustainable velocity, where do I start and how can I achieve it?
First, it's essential to understand that sustainable velocity differs for every company. It depends on factors like your industry, business model, and target market. For example, a software company with a subscription-based business model might have a different sustainable velocity than a brick-and-mortar retail store.
To determine your company's sustainable velocity, you'll need to consider your resources, including your team, budget, and infrastructure. You'll also need to consider your goals and priorities. Do you want to grow quickly and aggressively, or do you want to take a more measured approach? These factors will help you determine what is feasible and sustainable for your business. Hint: All these factors will go be outputs of your business strategy.
Once you're prepared to execute your business strategy and create a lasting foundation, begin with these three components:
Build processes that drive growth and not the processes that stifle innovation and create needed bureaucracy
The problem with many organizations is that they have become bogged down in processes and procedures that do not drive growth. This often creates a need for more bureaucracy, which stifles innovation and creates a cycle of stagnation. Organizations need to embrace processes that drive growth to break out of this cycle.
One example of a process that can drive growth is sprints. Sprints are short, intense periods of work that allow teams to develop new features or products rapidly. This fast-paced process allows teams to test and improve their products quickly.
Another process that can drive growth is the use of experimentation. Experimentation is a way of testing new ideas and concepts to find the best solution. This process can be used to find new ways to market products or to find new ways to improve products.
Organizations need to find processes that drive growth to break out of the cycle of stagnation. By embracing these processes, organizations can create a faster, more efficient, and more innovative system.
Measure only what needs to be measured.
Keep the noise of your dashboards. To make the most informed decisions that will help drive growth, businesses should focus on only 4-5 key performance indicators (KPIs). By measuring only the important aspects of your business, you can make informed decisions that will help you grow. By focusing on these key areas, you will be able to understand your business's strengths and weaknesses better and make the necessary changes to improve performance.
Create a culture of continuous improvement.
A culture of continuous improvement can be created by asking what failed and what we learned. By doing this, we can identify areas where we can improve our process and make our work more efficient. We can create a culture of success by constantly looking for ways to improve our work.
Achieving sustainable velocity requires careful planning and execution, but it's worth the effort. By building a growth engine that consistently and predictably generates new customers and revenue, you'll be well on your way to building a successful and sustainable business.