Eliminate Waste with a Lean Business Model

"The most dangerous kind of waste is the waste we do not recognize." 

– Shigeo Shingo

When you think of "running lean," what comes to mind?

For many entrepreneurs, running lean means producing great results on a shoestring budget. Traditionally, being "lean" has meant doing more with less. Lean business models are all the rage, especially for start-ups or for small regional firms. But recently, the concept has expanded.

Today, a lean business model is a strategy that uses continuous planning and streamlined processes to address customer needs rapidly. Here is one working definition:

A lean business model is a business strategy that strives to eliminate waste in products and processes while satisfying customer wants. In doing so, the business will receive more positive customer returns (like increased sales and goodwill) while expanding profit margins.

Lean businesses are those that recognize inefficiencies, adapt quickly, and continually prototype new options to accommodate shifts in demand.

Lean Business Practices in Action

One real-life example of a lean business strategy comes from the automotive industry.

In the 1990s and 2000s, Japanese companies dominated American auto sales by becoming more customer-oriented. Responding to market demand, Japan produced several high-quality, low-cost vehicles that were assembled in the U.S. This appealed to a niche in the market while significantly reducing development time and operating costs. Sales boomed, and it took the better part of a decade for American manufacturers to regain this lost market share.

It's easy to recognize the results of a winning approach, but what does a lean business model look like in practice? Here are three parameters to guide your thinking:

1. Make strategy the heart of your plan

Lean businesses are flexible, fast, and efficient.

Adaptable companies are those that can change tactics while keeping their strategy consistent. What (or why) does your unique business connect with your target markets? Keep this strategic focus consistent with staying intimately connected to your preferred buyers.

2. Track progress and focus on what works

Since lean business models respond quickly to shifting demand, your company must have an accurate pulse on what is working.

This may involve fast cycles of surveying customers, with corresponding numbers that are specific and measurable.

The most important part of tweaking a business model plan is your data. This includes regularly updated sales projections, detailed performance tasks, or timebound concept developments.

Lean businesses often find that monthly projections are essential, but trajectories beyond one year are usually a waste of time. The goal is not guessing "right," but to generate probable results and to make course corrections as you go.

3. Revise and Review

Managing a lean business model isn't something you do once, or even once a year. Like calorie counting, the key to staying lean is regular repetition over time.

In business, this means revising and tweaking your plan consistently, including a commitment to reward experimentation and to prioritize ideas based on their output. This can be painful. It may mean abandoning concepts you championed, or sacking projects you've invested months into. But isn't that better than losing time and money in the long run?

Whether you like it or not, the only constant thing in life is change. Running a lean business requires an agile mindset, a humble attitude, and a willingness to learn as you go.

Bringing Your Dream to Life

"Someone is sitting in the shade today

because someone planted a tree a long time ago." (Warren Buffet)

Dr. Julie Silver is a giant among medical practitioners.

As an assistant professor at Harvard Medical School, Silver has published several award-winning books and is the Chief Editor of Books at Harvard Health Publications, the consumer health publishing brand of Harvard Medical School.

But Silver is known for more than her accomplishments, she's known as an overcomer. At age 30, Silver found herself on the other side of medicine – as a patient instead of a physician – when she was diagnosed with breast cancer. Her story from surgery through radiation, chemo, and rehab is now the backbone of her identity.

Through cancer recovery, Silver found herself exhausted and depleted, with few resources for getting back on her feet:

"Returning to work and caring for my young children was very difficult," Silver says of that time. "I was not given rehab care and therefore had to rehabilitate myself. If I had been a stroke survivor or been in a car accident, I would have been offered rehab treatment. But, as a cancer survivor, I was left to figure it out on my own."

Silver says this experience, combined with loads of research touting the benefits of cancer rehab, prompted her to team up with others to reshape the recovery road. She and a team of experts created STAR (Survivorship Training and Rehab) certification programs for hospitals, group practices, and individual clinicians. STAR programs have empowered post-cancer treatment centers, improved life for thousands, and given legs to Silver's dream.

Pursue a Dream

Do you need the courage to pursue a dream in your life?

You have to believe a dream before you can see it come true. Every great achievement begins in the heart of one individual who took a risk and asked, "what if?" As Walt Disney once said, "all our dreams can come true if we have the courage to pursue them."

Dreamers are people who don't let negative thinking discourage them, even when their vision is beyond their capabilities. In Silver's case, she started with a hope for better cancer rehab. But as her journey progressed, she discovered hospitals needed much more than information. They needed an entire training system.

"I quickly realized that [my colleagues] needed a lot more information and assistance than I could offer with a simple conversation," Silver said. "They needed to be educated about cancer rehabilitation and to implement protocols to deliver this care."

Share a Dream

One reason dreams die is that you never share them with others.

People who genuinely want to achieve a dream must talk about it! Frequently. Why? Sharing a dream aloud helps you believe in it more and to make necessary tweaks along the way. Sharing dreams builds momentum, inspires others to collaborate, and holds you accountable to a plan. And plans break visions into actionable steps while pushing you to gather necessary resources in realistic time frames.

Work the Dream

How do you eat an elephant? One bite at a time.

After you've done the necessary planning, it's time to work. When it comes down to it, cathedrals are built one brick at a time. So, the most successful dreamers aren't just people with bold ideas; they are people who follow through in ordinary moments.

Hard work isn't always fun, but success looks something like this:

Short-Term Tasks * Regular Follow-Through = Long-term Achievement

Sound difficult? Just remember, it can be hard to work the dream, but it can be even harder to work for someone else's dream. Do the work today and enjoy the results tomorrow!

How Multi-Tasking Can Tank Your Productivity

For more than a decade, Dr. Daniel Simons and his colleagues studied a form of invisibility known as inattentional blindness.

In the best-known demonstration, Simons showed a video and asked people to count how many times basketball players in white shirts passed a ball. After 30 seconds, a woman in a gorilla suit sauntered into the scene, faced the camera, thumped her chest and walked away. Half the viewers missed her. In fact, some people looked right at the gorilla and did not see it.

That video was a sensation, so a 2010 sequel again featured the gorilla (as expected). This time, viewers were so focused on watching for the gorilla that they overlooked other unexpected events like the changing background color.

How could they miss something right before their eyes? Inattentional blindness. Humans consciously see only a small subset of our visual world, and when we focus on one thing, we overlook others.

The Statistics on Multi-Tasking

Most people are unaware of the limits of their attention, which can cause dangerous situations (like texting and driving).

What about multi-tasking at work? A majority of people spend time bouncing between calls, e-mails, and creative tasks, believing that this plate-spinning approach makes them more efficient.

But studies suggest that multi-tasking is a problem, not an asset. Data shows that multi-tasking causes you to make more mistakes, retain less information, and fragment brain function. Here's why.

Any time you need to pay attention, the prefrontal cortex of your brain begins working. Focusing on a single task means both sides of your prefrontal cortex are working together in harmony, but adding secondary tasks forces the left and right sides of the brain to operate independently. Scientists from the Paris Institut National de la Santé et de la Recherche Médicale (INSERM) found that this "brain split" caused subjects to forget details and to make three times more mistakes.

Another study found that participants who multi-tasked during cognitive tasks experienced an IQ score decline similar to those who have stayed up all night. Some of the multi-tasking men had their IQ drop 15 points, leaving them with the average IQ of an 8-year-old child. That's some jaw-dropping data!

So how can you avoid the multi-tasking "trap?" Here are four suggestions:

Place Lower Priority Projects Out Sight

When juggling assignments at work, intentionally stop and place lower priority projects out of sight.

Mute notifications from your e-mail or phone, send calls to voicemail, or put a sign on your door saying you will not be available for the next __ minutes. Give full attention to one project at a time and your creativity and efficiency will increase.

Use Time-Blocking

Rather than bouncing between tasks, map out chunks of time for each project. Twenty-minute blocks are a great way to schedule your most valuable time slots.

Turn Off Your Phone

Keep your phone off the table during meetings and turned off during peak productivity sessions.

Log Off Email

Studies show that the average professional spends about 23 percent of their day in e-mail.

But an Irvine study found when employees were cut off from e-mail for five days, heart tracking monitors revealed a decrease in stress and an increase in mental endurance. Employees who switch screens less often minimize multi-tasking and work more efficiently.

Consider limiting availability with automatic-reply settings like this: "I am not available at this time but will be checking messages again at 2 p.m. For immediate assistance, contact ________."

Just Say No

The next time you're tempted to multi-task, just say NO! You may think you're getting more done, but you're probably wrong.

Expand Sales with Responsive Customer Surveys

Airbnb is one of the most iconic names for startup success in our generation, quickly becoming one of the world's fastest-growing companies with over 80 million reservations booked per year through their service.

A considerable part of Airbnb's marketing strategy includes its responsiveness to both customers and hosts. The company regularly surveys hosts and guests and makes this a priority in their business.

Why? Here's what Airbnb says:

"At the center of everything we do is community. Our community of hosts is what delivers magical travel to our community of guests. For more than ten years, we have worked to build this community, which now includes hosts in nearly 100,000 cities."

A typical Airbnb survey invite looks something like this:

Hi ____,

Thanks for using Airbnb. We really appreciate you choosing Airbnb for your travel plans.

To help us improve, we'd like to ask you a few questions about your experience so far. It only takes 3 minutes, and your answers will help us make Airbnb even better for you and other guests.

Thanks,

The Airbnb Team

Airbnb politely asks for customers' opinions after their stay, giving them the space to decide whether they want to share their feedback or not. In fact, Airbnb has increased the number of bookings by 25% with their referral program alone.

Companies like Airbnb recognize that surveys are a powerful way to:

• Grow new sales opportunities


• Recognize and help dissatisfied clients before they leave


• Create deeper relationships with VIP customers


• Build competitive advantages for a business

Six Tips for Building a Successful Survey

When it comes to customer success and satisfaction, your team must collect feedback about your product or service.

As you assess customer needs, you increase value for your company and validate strategic decisions that your leaders make.

Want to build more sustainability and growth into your business? Here are six tips for building a successful survey.

1. Keep it short and simple.

Concentrate on the 5-10 most important questions.

2. Avoid loaded questions.

Leading questions taint your survey because you tempt people to give answers they THINK you want to hear.

3. Start with basic questions that have straightforward answers.

This increases the confidence of the customer and encourages them to continue the survey (rather than abandoning the process). If open-ended questions are important to you, use them at the end of the questionnaire.

4. Avoid compounded questions.

Avoid grouping multiple questions together in one line, like: "Did you understand what the product did? Why or why not?" This increases your likelihood of gathering unclear data.

5. Target the right people.

Don't waste your time on people who are not prospects or target customers. The RIGHT data is much more important than a plethora of unhelpful feedback!

6. Include enough people.

To know how many people to send surveys to, take your sample size (how many responses you'd like to receive) and divide it by your estimated response rate.

For example, if you want a sample of 100 customers at an estimated response rate of 10%, you would divide 100 by .10 to find that your survey should be sent to 1000 customers.

A Customer-Centric Experience

Every product or service revolves around customers and their experiences.

Well-structured survey campaigns are well worth the time and expense they involve because they allow you to assess customer needs, provide effective solutions, and increase client retention. Start with the basics and build from there. Your business will thank you later!

How to Age Gracefully at Every Stage of Life

If people can age with class, Harlene Goodrich should be considered a maestro of maturity.

Goodrich, age 81, is a former schoolteacher who lives in Seal Beach, CA. Goodrich returned to school at age 50 to get her master's degree and has since published a children's book and won several playwriting contests. Despite serious back and knee surgery in the past decade, Goodrich didn't shrink back from traveling to Washington, D.C., at age 79 to participate in a national protest march.

Goodrich says that aging well means proactively beginning the process while you're still young by engaging with stimulating people and activities. This includes a healthy dose of humor. Recently, Goodrich gathered friends ages 65 to 83 and heard them complaining about aches and pains. She stopped the discussion and suggested they go around the table to give each woman five minutes to complain. That's when everyone broke out laughing.

A Healthful Approach

No one can stop time, so it's important to remember that aging isn't something to be avoided. Instead, aging healthfully should be your goal.

This includes taking stock of your physical, social, and mental wellness, and prioritizing health as you would invest in your vehicle maintenance. Want to age healthfully? Here are some checkpoints in each category.

Physical Health

Early identification of health problems makes them easier to manage, so prioritize regular check-ups and complete the recommended health screenings for your age group. Here is a medical schedule to help you best navigate these guidelines.

Exercise is also vital. It's estimated that physical functioning peaks around age 30, and at this point, you begin to lose muscle mass and function. Sedentary individuals can lose as much as 5% of their muscle mass each decade! However, you can maintain muscle through regular exercise, specifically strength or resistance training. Resistance training also strengthens bones and helps prevent osteoporosis. 

Social Health

Aging can sometimes feel lonely, so it's important to make new friends and widen your social circles.

How can you do this? Consider new hobbies, volunteer opportunities, or even classes at a nearby college. You can also expand connections by proactively befriending younger people. Intergenerational relationships can open doors for powerful mentoring opportunities while decreasing depression and helping you navigate changes in technology and culture. 

Mental Health

Cognitively speaking, mental development continues into middle adulthood.

Later in life, your cognitive processing speeds may slow, but wisdom and experience-based problem solving will continue to increase.

It's important to feed your mind and your soul to stay sharp mentally. This includes consistent sleep patterns, building new connections, and cultivating a sense of purpose. Practical steps may consist of caring for others (to maintain a positive outward focus), tackling puzzles or strategy games, using mental arithmetic instead of defaulting to a calculator, playing an instrument, and surrounding yourself with upbeat people.

Research shows that smiling, even a fake smile, can boost your mood. When you catch your reflection in the mirror or a window, smile at yourself, and you may be surprised at how it lifts your spirits. Smile at others, too; you might make their day!

Be a Participant in Your Journey

One of the essential things about aging is to do it proactively.

Often as people age, they feel isolated or embarrassed. And in today's connected generation, there's just no reason to shrink back from others. Aging healthfully means making a plan, asking for help, and being an active participant (versus a spectator) in your own life. That's Harlene's outlook:

"No one suddenly gets old," Goodrich said. "I think we're all on the path of life. I may be old in years, but I'm the same person who's been living the same life. The key is to participate in each stage along the way."

7 Greetings to Use in Corporate Thanksgiving Cards

Want to make the holidays happier this year?

Showing gratitude through your year-end greetings takes some creativity and planning. Maybe this would be a good time for your business to break the mold when it comes to year-end tidings!

In 2016, Mayville Engineering Company, Inc (MEC) decided to amplify appreciation through an employee-empowered kindness campaign. In lieu of traditional greeting cards, MEC created a series of fun in-house GIFs for their employees to get them smiling.

In tandem, MEC sent "acts of kindness" prompts to spur a contagious rash of goodwill. These 25 acts of kindness included both personal and professional ideas, such as, "compliment someone to their boss," or "donate a piece of clothing for every present you receive." Employees were encouraged to share the love in and beyond the company and to share photos on its social channels using the hashtag #MECKindness.

Share a Simple Thank You

While you may not start a company-wide campaign, perhaps you could launch appreciation in action through corporate Thanksgiving cards.

A simple thank you goes a long way, and Thanksgiving is a perfect opportunity to say it. Why should you consider Thanksgiving greetings instead of a more traditional Christmas card? Here are three reasons:

To encourage holiday sales

Thanksgiving marks the beginning of a peak season (or planning for an upcoming business calendar) for many people.

While showing your gratitude in November, you'll also strategically position your name at a time that customers are ready to buy. While expressing appreciation, your brand and products will receive top-of-mind awareness in a strategic season.

To surprise and delight clients

Customers love to associate with companies that have human qualities.

Thanksgiving greeting cards will bring an element of human contact that is intensified by this unexpected November gesture. Appreciation cards sent any time outside of Christmas are especially memorable, so avoid the December mailbox clutter and be the first to wish them well this season.

To build brand loyalty

When you care for your customers, not only do you improve the likelihood of repeat business, you create advocates who are loyal to your brand and determined to spread the goodwill about your service.

Take advantage of the concentrated attention you'll receive outside the holiday rush and highlight reasons your brand is worth every penny!

7 Ideas for Your Thanksgiving Card

Need a little prose for your Thanksgiving cards? Here are seven phrases to inspire your designs:

1. May your table be filled with family and gratitude this season. Happy Thanksgiving!

2. All year long, but especially during this season, we're grateful for incredible customers like you.

3. Though we're thankful for all of our customers, you're especially high on our list. Thank you for being a great customer and Happy Thanksgiving!

4. With appreciation for your business and your loyalty throughout the year. Best wishes for a Happy Thanksgiving!

5. It's the perfect time of year to send our sincere thanks for your business. Happy Thanksgiving from our business to your home!

6. Sometimes in the rush of the day, we fail to say THANKS loud enough. So today – and this holiday season – we want to express our gratitude. Thank you for your patronage, partnership, and your commitment to crafting vibrant industries here in ____________.

7. At ____, we believe that relationships are our most valuable resource, and a vibrant local business community is something worth celebrating. Thank you for the privilege of doing business with you this year!

Get Started Today

Ready to get started? This season, we've got you covered when it comes to customer engagement. Call today to discuss a custom holiday card or to get your design up and running!

4 Mistakes that Make Your Ads Fall Flat

Have you ever seen someone make a pitch without clearly selling their product?

In business, sometimes we get so close to our product that it's easy to assume every reader "gets it." Marketers spend big bucks to grab attention but fail to craft a message that truly connects. Take this example:

Advanced Micro Devices (AMD) is a technology company offering innovative computing and graphic solutions for work, home, and play. AMD has begun partnering with a famous auto company to significantly reduce design time on new electric vehicles.

AMD recently ran a 2-page BusinessWeek ad with this headline: "AMD Makes It Possible." The problem? People have no idea what AMD is. So what would cause people to keep reading?

In this ad's copy section, AMD mentioned that they were able to cut design time on electric cars by over eight months. By burying this information under an obscure headline, AMD confused the reader and probably lost many sales. A better, more specific headline might have said this: "How AMD Cut Design Time From 12 Months to 10 Weeks."

Quick Fixes to Make Your Message Count

When you use print advertising, you have approximately three seconds before your prospect moves on.

You need to make your message count! Here are four things to avoid in your next ad or direct mail campaign:

1. Too Much Copy

Too much copy is boring to read.

Often direct mail buries the lead under volumes of copy, hoping to save the best for last. This assumes people are interested in your content and that they'll read to the very end. Even if you're lucky, only a handful will.

Instead, try this:

• Use loads of white space.


• Keep things short.


• Use sizzling adjectives and action-packed verbs.


• Put your main benefits in your headlines and other prominent places.


• Do all you can to make your offer leap out when people scan the page.

2. Focusing on Benefits vs. Value

The service you sell has its benefits, but sharing those features isn't enough.

Customers want to know more than "what's in it?" they want to know, "what's in it for ME?" If your coffee pot has a delay start option, don't just share this perk, describe the value it brings. Which statement do you find more compelling?

Equipped with a Delay Start Feature

-- OR --

Prefer Breakfast in Bed?

Delay Start Brings Piping Hot Coffee as Your Feet Hit the Floor!

3. No Clear Call to Action

One of the primary reasons print ads fail is a lack of clarity.

Does your piece contain a clear, single call to action? Is this call large, memorable, and easy to follow through with?

In today's market, it's not enough to give people a reason to buy your product. You must also show them why they need to act now. Don't leave an offer open-ended – put a deadline on it (like, "Shop today! Sale ends on Monday!") Or use a personalized URL, QR code, or concrete numbers to grab attention. Try something like: "Book today! 15% off your next visit," or "order by Sunday for 1-day shipping!"

4. Vague Visuals

When designing an ad, ask yourself, "who is my target market?"

If it is 17-28 year-olds, be sure your images reflect this demographic. When possible, use photos of your target customers putting your product or service to use. When prospects wonder WHO your ad is for, your images should show "WHO" with a "when, how, or why."

Tired of Falling Flat in print?

We all make mistakes from time to time, but using these tips will ensure you don't keep repeating those errors.

Be clear, be brief, and offer value and your print ads will undoubtedly hit the mark.