"It's the little details that are vital. Little things make big things happen."
— John Wooden
What is the cost of NOT screwing up? What is the VALUE of not having to worry tomorrow about the details of a project? At what point does an INVESTMENT in time and money become worthy, even if the reaping of the investment is weeks or months away?
In the past 20 years, a new theory arose in the business world, "Just In Time" production. It is a wonderful solution to MINIMIZING the volume of inventory large businesses had traditionally carried in their warehouses, tying up cash and resources. The idea is that everything is SHIPPED "just in time" for it to be sent to manufacturing and produced into the final product. This makes HUGE impacts on manufacturing costs associated with products and labor.
This THEORY of "just in time," commonly taught in business schools as an "advantage of production," has now penetrated into the minds of small business owners. SMB believe that they should also be using this model, waiting until the last minute to order things so they can maintain the lowest levels of inventory, thus saving valuable cash resources. WTF!?
2 DEGREE SUCCESS STEP:
Why on earth, would any small business owner want to RISK running short on a product or staff? Why would you risk the opportunity to serve WITHOUT any hiccups in your delivery? Do you feel confident your business can GROW if you are continually having products and service support product shortages?
As small business owners, we must be OVERLY prepared for issues of shortage, labor failures and pricing changes. We are likely not LARGE ENOUGH to be affected drastically by carrying an inventory. Our costs are not as great as that of an auto manufacturer and our risk is higher.
Your preparation is VITAL to your success, especially when your business or practice is small. Even if you work for a large company, if your sales efforts are not pre-planned, you will often find the size of your company is the greatest strength and your worst enemy.
Be prepared.
Cheers,
Zach
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