To give a better idea of why extra speed is better than extra height immediately after take off here is a good example.
We were scooping water on a fire one day when I had an engine start to fail just after lift off from the water it happened just as I reached my start climb speed which was ten knots over the airplanes normal climb speed.
The extra speed gave me the inertia factor to allow me to scratch my nuts while I decided what I was going to do with the beast.
So... once I was sure I was doing the correct thing I first dumped the nine thousand pounds of water and feathered the prop......did the shut down stuff in the check list and flew seventy five miles back to home base....
....fortunately I got it shut down in time to save the engine because it had blown a cylinder and the piston had a big hole in it.