Tag Archive: people

5P Accelerator to Fast-Track Growth and Profits

April 26th, 2016
5P Accelerator for growth and profits

Energy spent on focus, speed and relationships can help companies chart a course for growth and increase revenue.

Our most successful clients are constantly thinking about where they are headed. They think about why they are going there — how does it fit with their vision? How does it have meaning for their customers? Employees? Supply chain partners?

They also think about emerging trends — what is most likely to impact their business? What do they have control over? What opportunities can they leverage? Can they turn lemons into lemonade? How?

Our role is to stay ahead of the curve so that I can help my clients achieve dramatic results. Thus, we’ve incorporated the following best practices and thinking into the development of our proprietary processes:

  • Best practices across industries (ranging from aerospace to building products to food & beverage to distribution) and company-sizes (from small, family-owned businesses to facilities and divisions of multi-billion dollar, global enterprises)
  • Expert advice from our collaborations and alliances of clients and colleagues inclusive of top-notch trusted advisors, communities of executives and business owners, and trade association experts and professionals.
  • And, most importantly, we’ve bounced these against “what works” and is immediately pragmatic.

5P Accelerator(SM) is our proprietary process that fast-tracks growth and profits.

Our 5P Accelerator(SM) focuses on the core factors of success:

  • People – success begins and ends with people. Do you consider your people assets or costs? Give me a strong leader with a mediocre strategy any day over a weak leader with a strong strategy!
  • Processes – the foundation of success; similar to a house, if you don’t have a solid foundation, fancy curtains will not be sufficient to withstand a storm.
  • Plan – too many executives jump to action and skip the planning step. A plan is not only a part of your foundation (imagine a football team without a playbook) but it also provides an important collaboration vehicle.
  • Priorities – if I only had a dollar for every executive who wasted time on non-essential priorities, I’d be rich! What seems like a priority because your boss or customer happens to be yelling over the phone or a respected boss, peer or Board member is asking about isn’t necessarily so…..
  • Profit drivers – considering what is essential to your strategy, key customers and potential customers, profitability, cash flow or other critical factors should be of utmost importance.

Unfortunately, getting the 5Ps “right” can be challenging enough; however, it might not be sufficient for success. Add in focus, speed and relationships to tip the scales in your favor to fast-track growth and profits.

Please refer to our webpage to learn more and contact us if you are interested in leveraging 5P Accelerator(SM) at your organization. 

Did you like this article? Continue reading on how to Profit Through People:

The Systems View 

Empower Your People to GROW

 



Observation

February 4th, 2016
observation

Make a conscious effort everyday to stop what you’re doing and look around your workplace and beyond. By becoming observant you’ll soon spot people and areas that need your attention.

 

It is worth it to take a step back on a daily basis, if not more frequently, to observe. There is a significant power in observation – for your business, your career and your life.

Although observation sounds easy, it isn’t nearly as easy in reality.  A few strategies for success include:

  • Start off your day by looking out the window – what do you see? It can go a long way to clear your mind and just observe.
  • As you walk around your workplace, keep an eye out for what others might “step over” – a classic example of this is trash on the production floor. Instead of walking over it (and not noticing it), pick it up. This sounds really simple but can go a long way. Train yourself to “see” what is around you. Do you see oil on the floor? Do you see orders that could be missed?
  • Watch for trends – assuming you see the same people each day, watch for noteworthy changes. Is someone who is always happy down one day? The same holds true for machines, products, etc. If the production line always runs in a certain way and it is slightly different one day, take note. Find out what is going on so you can avoid larger problems down-the-line.
  • Take a step back and “look” at your supply chain – how are your customers, suppliers and other partners? Are there any trends going on?
  • “See” your team – whether they report to you, they are peers or they are your superiors, pay attention. 80% of success boils down to people so please pay attention to people!

Getting used to observing can be more challenging than it sounds. I often drive by countless people, cars, situations, etc. that I don’t notice.  Practice observing so that you don’t drive by your career, business or life.

Did you like this article? Continue reading on how to strengthen your Eagle Eye:

Manufacturing Connector℠ Eagle Eye Requires Keen Observation, Focus

People Strategies to Kick Off the New Year

 



Daily People Priorities

February 1st, 2016
people priorities

A daily check in with employees will help you stay informed and keep them engaged.


I often state that people are our #1 asset – more important than any multi-million-dollar machine, ERP system, bank loan or the like. How are we treating our #1 asset on a daily basis? Have you thought about this lately?

One way to ensure people remain top of mind (instead of in last place after all urgent customer needs, Board requests, bank requirements, etc.) is to follow these people priorities:

  • Check in with your people every day – find out what is going on and how they are doing.
  • Ask for ideas – get their minds stirring.
  • Ask them who has gone “over and beyond” lately that you could recognize – gets positive momentum flowing.
  • Ask them if they see any potential bottlenecks or have any concerns – and listen.
  • Ask them for ideas to delight the customer – creating customer loyalty won’t occur without a focused effort.

If you follow these people priorities, results will follow – and, more importantly, your people are much more likely to be engaged employees.

Did you like this article? Continue reading on how to Profit Through People:

Employees: Your #1 Asset

What Will Motivate Your Team?

 



What We Can Learn from Jack Welch

October 29th, 2015
people first

Successful companies put people ahead of strategy, process, and systems.

While attending APICS 2015, I heard Jack Welch, former GE CEO and best-selling business author, speak about the value of people. My ears perked up as I have found that the best processes and systems will fail miserably without the “right” people processes. For example, what is your culture? How strong are your leaders? Do you have a deep talent pool? These are key questions to consider. A few of the main takeaways from the speech include:

  • Allow employees to fail – this is the crux of creating an innovative environment. If employees are concerned that they’ll be beat over the head if they make a mistake, how innovative can they be? My consulting mentor Alan Weiss did his doctoral on a related topic. In essence, although an unexpected result, he proved that it is not important to hire people with innovative tendencies; instead, what mattered is as it is to make sure the leaders create an innovative culture.
  • People first; strategy second – give me the best people any day (even with mediocre strategy, processes and systems) vs. the best strategy with mediocre people.
  • Purpose – do your employees know how valuable what they are doing is to the company? Do they understand how they fit? Make sure your employees are crystal clear about their purpose and all else will fall into place.
  • Don’t tolerate bureaucracy – bureaucracy hinders workers. Since people are at the heart of success, you must blow up bureaucracy.
  • Simplify – we tend to make simple things complex. Make it a priority to think about whether you are simplifying on a daily basis. There is no value to complexity.
  • Supply chain leaders are desperately needed – we are at the heart and soul of our companies. We need to stand tall, speak strongly and be proud. We are value-added. Let’s start acting like it. 

Did you like this article? Continue reading on how to Profit Through People:

Profit through People: Is Talent Important to You? 

The People Element

 



The Systems View

January 2nd, 2014
Interconnected dynamic business systems

Do the systems in your business work together like the interconnected dynamic systems they are?

I was collaborating on a book on the topic of increasing the value of your business with a colleague yesterday, and we both latched on to the systems thinking view.

We agreed it is “the” way to look at a business. What is a business other than a set of interconnected dynamic systems?

To give you a flavor of these systems, I thought I’d list several to spur thinking.  Stay tuned for workshops, assessment tools, and our book on increasing the value of your business.

1. Financial – Every company has financial systems.  P&Ls, balance sheets, cash flow statements, key performance metrics, and more.

2. Operational – How does your company operate?  Does it produce products?  Provide services?  Service repairs?  There are countless operational processes we could discuss.

3. People – Do you have employees?  How do you hold your employees accountable?  What reward and recognition systems do you have in place?

4. Strategy – Do you have a strategy?  If not, does that mean you are flying blind?  How does your strategy fit with your day-to-day operations?

5. Metrics – How do you track progress?  Do you know if you are improving or declining?

6. Planning – How do you translate your strategy into plans?  Do you have goals and objectives?  Is there a continuous feedback loop?

And the list goes on. I would be remiss if I didn’t mention that there are countless more.  The key is how to put all these together successfully.

Did you like this article?  Continue reading on this topic:

What is Eagle Eye Strategic Focus?