If you are related to aerospace, you’ve probably heard the GREAT news that the world fleet will double in size over the next 20 years. Based on which news you read, the estimates are between 32,000 and 37,000 planes. Now that is growth! The same type of growth is occurring in other industries as well. For example, building products companies are taking off again. What are you doing to make sure you are prepared?
Growth is exciting and fun but it can also be deadly. According to my clients, it is far easier (even though unpleasant) to navigate a downturn than it is to navigate aggressive growth. My most successful clients are thinking about leveraging SIOP (sales, inventory and operations planning) as it is a great vehicle to help successfully prepare for growth. Currently, I am working with multiple clients doing just that.
One tip to implement this week:
To prepare for growth, you don’t have to jump into anything complicated on day one. Take stock of where you are and what levels of growth you expect. Undoubtedly, preparation action items will pop to mind. This action alone can give you an edge over your competition.
If you are not in the executive suite, ask about growth. Read trade magazines. If you see that your industry is growing, think about how you can prepare. For example, if you are in Shipping, think about how to increase the number of shipments per hour and per day. If you are in Manufacturing, think about whether you can increase efficiencies, staffing or cross-training opportunities. A big part of success goes back to mindset.