Stop competing on price! Learn how to combat commoditization — exemplified by the Makino’s effect on the manufacturing industry.
Are you doing the wrong things?
As a leader, is your entire workday spent doing things that are the highest and best use of your time? Are you continuously focused on the activities that bring the best ROI?
To help your business become more profitable, get in the habit of asking yourself two questions:
"Is what I'm doing right now the highest and best use of my time?"
If the answer is "no," then you can ask yourself the next question:
"Then how can I stop doing it?"
The answer is always on of the three Ds: Delegate, Delete, and Delay. One of these choices will get tasks off your plate.
- Delegate: Give the task to someone else on your team, or to a contractor.
- Delete: Is the activity really necessary or can you simply take it off your To-do list?
- Delay: If you must do the activity and it absolutely can't be delegated or deleted, can you wait to do the activity? (You'll often find the issue resolves with some time.)
We waste a lot of time, energy, and money doing things we shouldn't be doing. If you apply these two simple questions to everything you do, it will change your business drastically. Then, start teaching others in your business to do the same.