Speed is one of the most strategic elements a company can use to attract and retain customers and drive its revenues.

What do I mean when I talk about speed? In this context, speed means dramatically reducing the amount of time needed to complete a task by altering factors such as empowerment, employees’ mindsets, and organizational policies and systems.

Lack of empowerment is the major barrier to speed. It’s not just a speed bump on the road; it’s a 20-car pileup positioned directly in your path. Empowerment allows employees to make quick decisions that benefit customers—internal and external—without having to get permission from someone higher up the corporate ladder. It’s critical to eliminate policies and procedures that prevent empowerment, which prevents acting quickly.

Another barrier to speed is the mindset of employees, which for most of them is set on one speed: Slow. You must create a different mindset—a willingness to actively look for ways to perform quickly. If it normally takes five days to complete a task, do it in five hours. If another task normally takes one day, do it in one hour.

The speed technique involves several steps. Organize what you need and evaluate how much time you’ll need to complete the project. Prioritize by breaking the project down into a series of smaller tasks that will allow you to manage your time and focus on the details while understanding the big picture. Don’t procrastinate. Manage your time in a way that factors in barriers and allows for dealing with problems.

However, it’s imperative that you don’t sacrifice quality while pursuing speed. Speed without accuracy is counterproductive. If you have to go back and correct mistakes, you have slowed down the entire process.

CEOs are also often barriers to speed. The only thing that motivates them is money. What they fail to realize is how dramatically speed—combined with extraordinary customer service—can affect sales and profits. Amazon is the definition of speed and service. It has more than 1.6 million employees; in 2023 it had net sales of $575 billion, an increase of $61 billion from 2022.

Apple, the Mayo Clinic, and Costco are three other great examples of companies that are realizing the rewards of combining customer service and speed. Apple has a profit of more than $100 billion every year because of its speed and service. When I have a problem or need advice on one of my Apple products, I don’t need to drive to the store and wait in line. I simply call Apple, explain what I need, and an employee solves the problem in minutes.

The Mayo Clinic provides a better customer experience than any other healthcare organization in the world. Thanks to its focus on speed, quality, and customer service, it had nearly $18 billion in revenues last year. It also includes a human element; you can call the clinic, and a live person will answer the phone on the first ring 24 hours a day, seven days a week.

Costco has never lost sight of its focus on the customer experience. As a result, its fiscal year sales ending Sept. 1, 2024, were $249.6 billion, an $11.9 billion increase over last year. Costco has incredible quality and prices. It also has incredible speed, with two people at each checkout counter, so regardless of how long a line might be, the checkout process takes just a few minutes.

Speed can generate incredible growth and separate your company from your competitors while dramatically increasing sales and profits. In the words of race car driver Mario Andretti, “If everything seems under control, you’re just not going fast enough.”

Shift into high gear and give your customers more than they ask for—and faster than they ask for it.

Published Oct. 1, 2024, by Service Quality Institute. For more information on John Tschohl and the Service Quality Institute, visit www.customer-service.com.