Showing posts from November, 2017

An Effective Company Strategy Drives Success

An Effective Company Strategy Drives Success by Laurie Harbour
Looking forward to 2018 many analysts predict it to be a strong year for the metal forming industry. It is however, critically important that shops have a sound business strategy to fully capitalize on the good times, while preparing for the challenges that may be ahead. 
All too often, we find that a shop thinks they have a business strategy, but really it is just a set of goals such as sales targets or productivity numbers and no path or guidance on how to achieve these targets. Most sales people tell us as that they don’t really have a clear perspective on ownership's strategy. A good place to start is with setting a sound company strategy and to do this a shop must look at the data it already collects. To develop an effective strategy, it is important for leadership to understand the current state of the business and dig into the operational data.
•What customers or products deliver the highest level of profitabili…