- The impact of panic decisions in business last year
- The struggles of the light truck industry in the era of “just in time”
- The dangers of knee-jerk reactions in business: How to avoid failure
- Simplifying success: The three questions every business decision-maker should answer
- Why success needs to be intentional: The consequences of preventable failure
Just like everyone else throughout this December, I’m going to try to summarize 2022. Actually, I’ll summarize the last three years. Businesses are flailing around like fish out of water.
The impact of panic decisions in business last year
In particular, the light truck business (no one buys cars anymore) just can’t get a solid footing. It’s a business that counts on inventory but has been thrust into a world of “just in time,” one that requires a passionate workforce, nimble and cross-functional management, and a whole host of other factors that rarely exist outside of lean mass production. It’s a giant octagonal peg brutally beaten into a triangular hole.
The struggles of the light truck industry in the era of “just in time”
As I’ve been helping dealerships across North America try to navigate the seismic upheaval of their business model, it’s abundantly clear that PANIC has taken on a corporal form, has a user name and password, and resides in a corner cubicle at a dealership near you. Every week it feels like someone is just one step away from going full Donner Party on their processes, personnel, or vendor partners. These knee-jerk(y) reactions come with very little planning, direction for staff, or how the decision will impact the future. It’s the work equivalent of seeing a spider and hurling anything nearby to kill it, whether it be a vase, a lamp, or a small toddler.
The dangers of knee-jerk reactions in business: How to avoid failure
While many respected academics, Six Sigma Blackbelts, and business personalities have five, ten, or fifteen-plus steps to business nirvana, I’ve found that too many objectives lead to just checking a box and not a permanent result. So, based on what I’ve learned from said experts, while at the same time watching many people I know and respect fail miserably, I’ve distilled it down to just three questions that business decision-makers should be answering BEFORE pursuing a new direction.
Simplifying success: The three questions every business decision-maker should answer
1. Why Does It Matter Now?
2. How is Success Measured?
3. Who is Responsible for the Success of the New Initiative?
Why success needs to be intentional: The consequences of preventable failure
While I’ll take the time to explain these three questions more in future posts, it cannot be emphasized enough that if these questions can’t be answered in the beginning, you will continue to fail in embarrassing and absolutely preventable ways. Turnover across all levels will continue to be high. Wasted spending will continue to haunt quarterly meetings. Animosity and territorialism will continue to fester across departments. And it’s possible that acne, alopecia, and feline leukemia may result (that might be an exaggeration). In other words, success needs to be intentional.
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