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Others focused on identifying and remedying bottlenecks. They created flow charts showing each critical step in the process of generating cash—the lifeblood of a business. They thought of the flow chart as a pipeline or funnel and monitored flows to determine where there were bottlenecks or flow delays. Finally, they focused on the bottlenecks and,
... See moreEdward Hess • Grow to Greatness: Smart Growth for Entrepreneurial Businesses
How do you decide where your growth team should focus?
Your business has a rate-limiting step somewhere. That’s the area where, if you improve it, the whole system runs faster. It may be a customer journey drop-off like conversion or retention, or it may be an employee problem like staffing levels, performance, or even mindset. Of course it might a... See more
Your business has a rate-limiting step somewhere. That’s the area where, if you improve it, the whole system runs faster. It may be a customer journey drop-off like conversion or retention, or it may be an employee problem like staffing levels, performance, or even mindset. Of course it might a... See more
When "growth" isn't marketing (or product)
The Goal, which laid out his “Theory of Constraints.” Goldratt’s theory explains that any system with a goal has one limit, and worrying about anything other than that limit is a waste of resources. If an assembly has three sections, and two of those sections can produce one hundred units per hour while the third can only produce fifty units per ho
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