Speed, Precision, and Efficiency

Somewhere along the way, speed became THE thing. Things need to get done. They need to get done FAST! Then they need to get done FASTER! Then maybe even FASTER than that!

FAST! FAST! FAST!

Why?

I guess part of it comes from the start-up company fear of running out of cash. The company fears burning all it's funding before becoming self-sustaining. My sense is that's one big, if not the biggest, driver. Does this also apply to crypto, though?

Some crypto projects are sitting on big heaps of cash, still. Does their sense of urgency stem from the fear of running out of cash? I'm not so sure it does.

Other projects have no external funding. They're self-funded and bootstrapped. My Chainflow Validator operation is one of these. I get the need for speed, to some extent, in this scenario. How long can an operation sustain itself like this?

A different category of projects has VC funding. It's not surprising these projects feel the FAST heat 🔥

Regardless of need for speed's source, speed has a cost. Speed takes an unhealthy toll on the humans doing the work. Speed is often inversely-correlated with precision and efficiency.

It's the trade-off between quantity vs. quality. For example, a boatload of Github PR's, submitted over a short period of time, doesn't necessarily indicate a project is on-course. It can just as accurately indicate a lack of precision and/or inefficient workflow.

Most projects I work with are already underway by the time I get involved. I'd say most of them are probably operating around 55-65% efficiency, at best. Most are probably closer to the 55% mark.

My sense is the choice of speed, rather than precision is the main cause of the inefficiency. Here's another example I tweeted over the weekend, related to regrouping after missed deadlines.

Project teams are afraid to slow down. Yet it's in the slowing down that gains in precision and therefore efficiency can be made.

P.S. - This was first published in my Blockchain PM newsletter here. Subscribe for free to receive posts like this and PM jobs listings about once a week.