Ask yourself the hardest question: Today!

A question I always ask my clients at some point in an improvement initiative is: “what would a VC firm do if they took over management today?”

It always leads to deep and challenging conversations, that lead to a recognition of things happening, or indeed, not happening, in a business that is delivering sub optimal outcomes.

Waste from many sources, such as rework and excess inventory, fragmented internal processes, friction for customers, sub optimal performance of machinery, functional misalignment, missed opportunities, and many others.

Approaching the identification of problem areas as a third party might, allows people to open up and be constructively critical of the status quo, and envision what changes should be made. 

 Being as we are in the middle of a crisis, you no longer need to envisage what a VC might do in the event they turned up to rape and pillage the business, it is happening around you by ‘The Bug’.

There has never been a better time, except last year, to ask yourself the question.

Second best time is right now.

When you have some of the answers, do  not waste any time implementing. The state of your cash reserves and sales pipeline will dictate the urgency of action, and some may, with the benefit of the hindsight you do not yet have, not be the absolute best option.

However, doing nothing is not an option, so get on with it and implement.