When in Startup Mode, Embrace Speed! Speed! Speed!

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
CEO, Rakuten Inc.
2 min read
Opinions expressed by Entrepreneur contributors are their own.

LinkedIn Influencer, Hiroshi Mikitani, published this post originally on LinkedIn

When you launch a business, you may be tempted to move ahead carefully and slowly. My advice is the opposite. Embrace speed. Speed!! Speed!! Speed!! is one of Rakuten’s Five Principles for Success and is a lesson I learned during my first 90 days.

To use speed in your early days, you must be committed to a pattern of launch and refinement. It is a process of constant improvement. In manufacturing, Toyota made this process famous – in Japanese it’s called kaizen, a topic on which I’ve written about before. When you launch your business, you must practice kaizen – constantly improving your product.

Related: Social Shopping Musts During the Holidays (LinkedIn)

At Rakuten, we launched our marketplace with one initial pricing structure. As we proceeded, we realized it would be necessary to tweak that structure so it was sustainable going forward. We refined and improved it. When I made the announcement that I wanted our entire company to learn and become proficient in English, I set an initial timetable. I refined and updated that table as the process I call Englishnization moved forward. Englishnization has worked so well other Japanese companies have adopted it.

Too often, a worried entrepreneur will sit on a great idea, waiting until it is fully perfected before launching it. My suggestion is that process takes too long. While you are perfecting your wares in your R&D lab, your competition is out in the marketplace, trying new ideas, refining and tweaking as necessary, practicing kaizen.

Even in your early days, embrace speed. In our fast moving business world, speed is essential.

Related: Propel Yourself to Success (LinkedIn)

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur