What's my business worth ... now? Recent events have affected the value of privately held companies, including machine shops. The market is different. Demand is different. Supply is different. Availability of credit is different. Buyer's taste for risk is different. ...
What to Change to? As with any real constraint, your overall company only has one of them. For example, your company cannot be both internally and externally constrained at the same time (yes, we are aware that your company is different and more complex). A company...
What is the problem? Answering that is extremely important. Without know the problem, how do you know where to focus or what to improve? Is it: Declining sales? Unrealistic expectations for increased productivity? No profit incentive payout? Low morale? The new...
Tom Foster of ManagementBlog.org interviewed me about Goldratt's Theory of Constraints. Here is the fifth installment: --- Start interview TF: If we do a good job of placing our constraint in our highest cost, most scarce resource, what is the next most difficult...
Tom Foster of ManagementBlog.org interviewed me about Goldratt's Theory of Constraints. Here is the fourth installment: --- Start interview TF: If the idea is to strategically select your bottleneck (constraint), what are the characteristics you look for in a...
Tom Foster of ManagementBlog.org interviewed me about Goldratt's Theory of Constraints. Here is the third installment: --- Start interview TF: You talk about bottlenecks in systems. Conventional wisdom says bottlenecks are bad and that it is management’s job to get...
Tom Foster of ManagementBlog.org interviewed me. Here is the second installment of that interview. We discussed maximizing efficiency. --- Start interview TF: Intuitively, we try to maximize efficiency (profitability) of the entire company by working in each...
Tom Foster of ManagementBlog.org interviewed me and this is the installment of that interchange. We talked about problem solving and figuring out where to focus. --- Start interview A couple of weeks ago, I got to spend some time with Dr. Lisa Lang about one of my...
Happy New Year! I hope this blog finds you and your business poised for prosperity! This is the time of year when most of us get reflective. We look back and determine what worked, what didn’t, and what changes we are going to make. And many times when we haven’t...
I did not write last week. We were doing a boot camp in Kansas City plus a speech for a TEC/Vistage retreat in Michigan. It's Mafia Offer Boot Camp Season. This is a good time of year to do a Mafia Offer Boot Camp because budgeting and preparation for next year are...
