How can you increase the amount of value you create?
The key is to make your work scalable.
Here are six options to consider:
- The linear approach. We can double our output by simply doubling our production team.
- Adding processes and systems. A new ERP system may ensure that a significant amount of the current work can be automated.
- Change in business model. If we franchise our business, we create a standardized approach for growth.
- Become more selective. A pilot who learns to fly bigger planes, will be able to serve more customers with the same amount of effort.
- Increase efficiency: Think of launching 6 sigma improvement initiatives.
- Strategic Quitting: Continuously eliminate work which adds the least amount of value, in order to do more work which creates the most amount of value.
Organizations typically only use one or two of these approaches consistently to grow.
If this is the case in your organization as well, it’s a huge opportunity for you to introduce new and fresh thinking.