The Speed Loop is the method that helped me reduce the time to update my Excel workbooks from 2 weeks per month to 2 days per month.
I was an accountant in industry, sitting in my cube updating tons of Excel workbooks. I was stressed out and cranky because I had more work than time. I worked late nights and weekends and often felt anxious at work and home. I developed an informal system and a variety of Excel skills that helped me get my work done faster. I have formalized the method (aka framework, approach, system, process, cycle), and call it the Speed Loop.
The Speed Loop is what I used to get my schedule under control, feel relaxed at work, and have a better work/life balance. What used to take 2 weeks per month was now getting done in 2 days, and I had more time than work.
I teach this method free, and I hope it can help you as well. Here is a quick overview.
- Identify - recurring project workbooks
- Insert - lead sheets
- Automate - manual tasks
- Anticipate - errors and prevent and/or detect them
- Accumulate - Excel skills needed to automate tasks next period
- Rebuild - the set of workbooks as a whole
- Reinvest - locate the next set of recurring project workbooks
I use an investor metaphor to teach the Speed Loop. An investor makes a financial investment, hopes the asset appreciates in value, and expects to realize a gain upon sale. That is, the investor seeks to get more back than what was invested.
Here, we are investing time (precious resource), appreciating the assets (improving our workbooks), and expecting to realize a gain (saving more time than invested).
This investor mindset helps keep us focused on the task at hand: improving our recurring-use Excel workbooks to save time and get our work done faster each period.
If you think the Speed Loop could help, please register for my free pre-recorded webinar.
During the webinar, we take a sample workbook and go through several automation steps:
- converting ordinary ranges to tables
- converting static values to formulas
- converting formula-reports to PivotTables
- converting manual copy/paste with Power Query
It is really fun and the details make the Speed Loop more concrete and easier to visualize.
Speed Loop Coaching Program
The Speed Loop coaching program is designed for folks who would like some hands-on assistance implementing it into their workbooks.