You seem to misuse vim, but that's likely due to not being very familiar with it.
The right way is to press Esc, go where you want to do a small correction, fix it, go back and keep editing. It is effective because Vim has much more movements than usual character forward/backward/up/down. After you learn more of them, this will happen to be more productive.
Here's a couple of use-cases:
- You accidentally typed "accifentally". No problem, the sequence EscFfrdA will correct the mistake and bring you back to where you were editing. The Ff movement will move your cursor backwards to the first encountered "f" character. Compare that with Ctrl+←→→→→DeldEnd, which does virtually the same in a casual editor, but takes more keystrokes and makes you move your hand out of the alphanumeric area of the keyboard.
- You accidentally typed "you accidentally typed", but want to correct it to "you intentionally typed". Then Esc2bcw will erase the word you want to fix and bring you to insert mode, so you can immediately retype it. To get back to editing, just press A instead of End, so you don't have to move your hand to reach the End key.
- You accidentally typed "mouse" instead of "mice". No problem - the good old Ctrl+w will delete the previous word without leaving insert mode. And it happens to be much faster to erase a small word than to fix errors within it. I'm so used to it that I had closed the browser page when I was typing this message...!
- Repetition count is largely underused. Before making a movement, you can type a number; and the movement will be repeated this number of times. For example, 15h will bring your cursor 15 characters back and 4j will move your cursor 4 lines down. Start using them and you'll get used to it soon. If you made a mistake ten characters back from your cursor, you'll find out that pressing the ← key 10 times is much slower than the iterative approach to moving the cursor. So you can instead quickly type the keys 12h (as a rough of guess how many characters back that you need to move your cursor), and immediately move forward twice with ll to quickly correct the error.
But, if you still want to do small text traversals without leaving insert mode, follow rson's advice and use Ctrl+O. Taking the first example that I mentioned above, Ctrl+OFf will move you to a previous "f" character and leave you in insert mode.