Opportunity-driven Business Development:

Fast Company

Fast Thinking

Understanding the Primary Drivers of Change and Spotting Opportunities

By Vadim Kotelnikov, Founder, Ten3 BUSINESS e-COACH, 1000ventures.com

"In the new economy, there are only two kinds of companies: THE QUICK and THE DEAD." 

Fast Company Fast Thinking Fast Decision Making Fast to Market Sustaining Speed Anticipating Spotting Trends Brainstorming Letting the Best Idea Win Setting Rules and Guiding Principles Getting Rid of Bureaucracy Constantly Reassessing Past Decisions Launching a Crusade Owning Competitive Advantage Institutionalizing Innovation: Innovation System Simplicity Growth Attitude Managing Creativity Roadmapping Staying Close to the Customer: Customer Partnership Boundarylessness Self-confidence Ten3 Business e-Coach: why, what, and how 1000ventures.com Business Process Management System (BPMS)

Fast Thinking: Four Special Skills You Need to Master1

  1. Anticipating the future – expecting, being aware of something in advance, regarding as possible

  2. Spotting trends before others

  3. Letting best ideas win through establishing a conducive corporate environment

  4. Assessing the potential of new ideas accurately and quickly

 

Discover much more in the full version of Ten3 Business e-Coach

Selecting Best Ideas

Establishing Guiding Principles

80/20 Principle

6 Thinking Hats

Creativity

Creativity Management

Brainstorming

Idea Management

Entrepreneurial Creativity

Creative Leadershi

Discovering Opportunities

Leading Innovation

New Product Development

Observing Disruptive People

Case Studies

Charles Schwab

Warren Buffett

Dell Computers

How To Think Faster Than Your Competition

To be able to think fast, you need to "understand the primary drivers of change, work at staying plugged in, constantly search for new combinations, and work on developing a sense of heightened perception."1

The fastest companies in the world think fast because of their ability to:

 

Idea Management

The difference between success or failure in business could be just one idea. Idea management system and process can help your company make innovation a discipline. They can help make the hunt for new possibilities each and every department's business, as well as involve broader and more enthusiastic participation among managers and employees... More

 

 

Ask Searching Questions

Don't ask one or two questions and then rush straight towards a solution. With an incomplete understanding of the problem it is very easy to jump to wrong conclusions.

Ask open-ended searching questions that elicit a wide rage of answers:

  • 'Why' questions  to discover the roots of the problem

  • 'How' questions to discover different routes to significant improvement.

 

 Case in Point  Lessons from Jack Welch

To Jack Welch, the legendary former CEO of General Electric, new ideas are the lifeblood of business. "The operative assumption today is that someone, somewhere, has a better idea; and the operative compulsion is to find out who has that better idea, learn it, and put it into action – fast."

 

 

Bibliography:

  1. "It's Not the Big that Eat the Small... It's the Fast that Eat the Slow", Jason Jennings and Laurence Haughton, 2000