The Difference Between Effectiveness and Efficiency when Starting a New Business

Sometimes as marketers we tempt to do things quickly to deliver before a deadline. However, if we don’t have parameters on what’s good and what isn’t the result can be (if you’re lucky) effective, but not efficient.

The best way to explain the difference between the two of them is by imagining an aiming game. We through darts to a target 5 times, when we are effective one of those darts will hit the middle, but all four others will miss the whole target. On the contrary, when you are effective, one dart will hit the middle, but all five hit the target.

The same happens with businesses, when we are going too quick, we tend to do websites, create social media, launch promotions, build the brand, set pricing strategies, hire people quickly, among the other hundreds of tasks that entrepreneurs face constantly. During this rush, we barely have time to stop and look at what we are doing, and then is when errors occur, and we lose efficiency. Yes, we are generating sales, and the business is moving, but are we moving in the right direction? Do we have the resources and capacity necessary to redirect the business in case it went through the wrong side? Normally if you are starting a business, the answer to these questions is no. First, because we still don’t have the agility, second because of the rush we might have hired the wrong people, and third because we probably don’t have the budget to fix it.

That being said, is better to slow down a little, follow the KISS principle for your business processes, and ask yourself if what you are doing is aligned with what you want to accomplish in the future.

Hope you liked this post, and it helps you get your business going and growing as fast and efficiently as possible. If you want to know more about marketing, branding, and analytics, I invite you to visit my blog and subscribe to my newsletter.

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