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Entrepreneurship

Skill versus Speed for Business Success

Speed is a powerful predictor of business success.

Red apples among green ones

Every person has different skills and abilities but success isn’t a guarantee for individuals with superior skills. It is speed that is a more powerful predictor of business success.

From Mickey Mikitani, CEO, Rakuten Inc.:

In business, time is more important than skill. A day is always 24 hours. A year is always 365 days. These are conditions no one can change. What differentiates one person from another is how efficiently that individual uses the set amount of time we all have. Someone who moves swiftly is exponentially more efficient that someone who does not. It is as if that person has been given exponentially more time. Not matter how skilled you are, you will never beat someone who fits 30 or 40 hours into the day when you are only putting in 24 yourself.


If you are quick enough, you will catch and surpass those who are more skilled.


Think about the people in business you know who are successful. Speed is always part of their process. They think quickly. They make decisions quickly. Many times they even walk quickly. They are swift in all that they do.


You can work on your own speed. It’s something you can get better at just by willing yourself to do so. If you decide to do something, do it quickly. Do not put it off. Think of procrastinating as the same as not acting at all. As a fundamental rule, move swiftly.

Speed Trumps Skill, Mickey Mikitani

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