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 Inspiration and Innovation Unlimited!

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

 3Ss of Winning in Business      Surprise To Win: 3 Strategies

Moving with Speed 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 Innovation System Simplicity Growth Attitude Managing Creativity Roadmapping Customer Intimacy Boundarylessness Self-confidence Ten3 Business e-Coach: why, what, and how 1000ventures.com Business Process Management System (BPMS) Staying Beneath the Radar

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

 

  

Fast Company

Fast Decision Making

Setting Guiding Principles

Getting Rid of Bureaucracy

Jack Welch's 3Ss of Winning: Self-confidence, Simplicity, Speed

Creativity

Brainstorming

Idea Management

Entrepreneurial Creativity

Fast Evaluation of Ideas and Decision Making

80/20 Principles

Idea Evaluation By Weighted Criteria

Idea Evaluation: 42 Perceptual Positions

Six Thinking Hats: Analyzing Proposals

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:

Search For Opportunities

 

Opportunity can and does exist within nearly every situation, event, proceeding, or happening. The search for opportunities is not a one time event. It is continuous and on-going. Rapidly changing new economy offers unlimited opportunities, but these changes bring opportunity to those only who can grasp it. Executives who recognize that the days of slow change are over, will find boundless new opportunities around them.

The changes creating new opportunities for innovation can be both within your enterprise or industry and outside them... More

The Power of Your Cross-Functional Excellence

If you build broad cross-functional expertise, no idea will be wasted! Your mind can accept only those ideas that have a frame of reference with your existing knowledge. It rejects everything else. If your knowledge is functionally focused, you'll be open to new ideas related to your functional expertise only and will miss all other learning and innovation opportunities. If you develop a broad cross-functional expertise, no new idea will be wasted. It will immediately connect with the existing knowledge and will inspire, energize you, and encourage your entrepreneurial creativity. The broader your net is, the more fish you catch... More

 Smart Executive

 Entrepreneurial Leader: 4 Attributes

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

 Loose-Tight Leadership

 The Virtuous Circle of Experimentation

 The Jazz of Innovation: 11 Practice Tips

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... More

 Case in Point  25 Lessons from Jack Welch

To Jack Welch, the legendary former CEO of GE, 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."... More

 

 

 

 

References:

  1. It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, Jason Jennings and Laurence Haughton

  2. "Every Business is a Growth Business", Ram Charan and Noel. M. Tichy