Lessons from the Rubble
Mistakes, I've made a few. Success has many fathers while failure is an orphan. Let me show my orphan a little love, by sharing some of the hard lessons that have come my way.
Build Companies Where The Talent Is
Deciding on the location of a business on cost can look sexy on paper, however, the hidden cost of cheaper labour can be surprising.
Build A Factory Smaller And Lighter
It is tempting to build a magnificent structure and think that good fortune and hard-work will fill the order books, but it is much safer to build one around exciting capacity and making it more efficient. The ancillary running costs add up. The smaller space forces more discipline.
Use Old, Well Made Tools
A new car is always tempting, but a well maintained 20 year old Lexus is bullet proof. Truth is, not all products are created the same, but those that are built to stand the test of time, can always generate new value.
P-Plate New Management
Every new manager wants to make their mark with a new budget, just like every new driver wants to explore new roads. Instead, make them drive the old roads for at least a year and use that time to see how well they do - you can always give them the keys later.
Fundamental IT instead of Futuristic IT
Before investing in the cloud-based, AI enabled, hyperconnected, augmented reality, Swiss army knife, point of sale analytics, electric toothbrush, embark on a deep training program that looks at maximising existing systems. If you do not understand, do not invest.
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