If you have felt profoundly unproductive in the past twelve months, rest assured – you are not the only one. Sure, the ongoing pandemic has devastated not only the physical health of countless people but also their mental health too.
Unfortunately, a side effect of this mental health crisis we are going through is a lack of motivation and productivity. Subsequently, these have resulted in some abysmal effects on the global economy, with many businesses unable to adapt to our new reality giving up and closing shop. Click on this link to find out more: https://www.cnbc.com/2020/09/16/yelp-data-shows-60percent-of-business-closures-due-to-the-coronavirus-pandemic-are-now-permanent.html
Of course, some business models and services are easily adaptable to a work from home setting, but most are not. You can pick up your groceries and take-out orders at a drive-through, but the sanitation workers still have to go out on terrain to pick up the trash outside.
Another unexpected benefit of the pandemic was that it spurred many business owners to take the initiative and risks to innovate their businesses. In a year where you had to adjust to unprecedented conditions, there was no better time to roll the dice than now. After all, it was easier to play a risky move than potentially go under completely!
For a lot of businessmen, this meant revising their business models and the way they operate entirely! Indeed, your mom & pop diner might have had the old-fashioned charm of the 50s when it still hosted patrons, but with nationwide stay-at-home orders all around, no one could be present to witness that. It was time to bring commerce to the 21st century finally. Read more here.
If this sounds familiar, then you are on the right track. What we are talking about here is essentially a business evolution – adapt to the conditions and survive in the market. Although intuitive, there is an entire science behind this method, professionally termed process improvement.
You might think it is as simple as just seeing the biggest names in the industry or your competitors do and repeating it – but think again! There are plenty of different approaches and theories to this technique that you could use depending on the type of business you run.
If you clicked on this article, then you are probably interested in optimizing your business and most likely busy running it in the first place. You do not have time to read giant textbooks and compare and contrast theories. Luckily, we have done that for you! Just read on to figure out which approach would suit you best!
The Diverse Range of Process Improvement
Firstly, let us introduce you to the Lean methodology of process improvement. This technique is heavily focused on the customer and their needs. Just like its name suggests, you are trimming all of the unnecessary additions to your workflow that does not serve the customer as quickly and efficiently as possible. The question you should be asking yourself when using it is: “Does this improve my customer experience?”. If not, it is time for the cutting room floor.
The second most popular technique is called Six Sigma. This one is a little bit more complicated and requires careful rule-following for optimal results. Namely, in this method, you are supposed to follow six steps to decrease your workflow’s inconsistency. This technique is heavily based on data and takes on a more scientific approach to getting your ideal process.
At first, you need to define the problem you are having and then measure the impact of the issue you are attempting to settle. Then, you proceed with thoroughly analyzing the overall situation, followed by actually improving the process. Lastly, make sure to control your new workflow, so no further problems arise.
Some businessmen choose to get the best of both worlds and go for the so-called Lean Six Sigma, combining the previous two methodologies we just discussed. This approach aims to deliver decreased cycle time, remove variability and enhance capacity.
This is a more holistic view of process improvement that does not center on improving just one step of it but all of them. All the parts in the workflow depending on one another, so even if you optimized one, the others would still be dysfunctional. That is why sometimes this approach is the best for a company.
Some Final Words
We hope we have helped you come to the right and thought-through decision that will benefit your business the most. We know that it is not easy to manage people, numbers, and products every day, and there is no shame in admitting that.
That is why we are here to help. You can become a top-notch businessman that runs a successful company without ever going to college, as long as you know the tentpoles of how the industry works. Everything else is just a cherry on top of the cake!