Money on the Table

None of us are flawless. We all left money on the table in the form of less than optimum productivity and missed opportunities in 2022. Here is how to do better in 2023. 

Thoroughly commit to highly collaborative work practices informing a learning culture as a matter of strategy throughout your organization – at least that part of it you directly influence. One path to accomplishing this is the adoption of lean management practices, lean being a well codified if sometimes misunderstood genre of performance management. 

It is common for senior executives to see lean practices as a set of tools to be used only by the people performing work for customers. Conversely, lean is an ethic that guides collaboration by providing clear mechanisms for communicating requests and commitments, allowing missteps to be quickly identified, understood, and addressed in an environment of complete visibility. 

With your executive leadership committed to a lean ethic as a core strategic advantage in your markets here are recommended targets for 2023. 

• Aim for aggressive improvements in net operating margins. The lean ethic enables faster project and product turnover, along with higher productivity. Building contractors for example should be able to double net operating margins in three to five years. That can only happen if C-level leaders commit to the organizational learning required to achieve this goal. 
• Leverage your lean collaboration capabilities as a business development advantage, selling focused on your strengths and not price. Collaboration often extends across organizations, and savvy customers are increasingly seeking vendors and contractors who understand how to truly collaborate. Sometimes those customers are also looking for a partner that can guide them as they seek to be more collaborative. Investing in those customers is rewarding. 
• Identify at least one new revenue opportunity. You will not find it in your office. Get out and speak with the people performing the work for your customers. Understand work from their perspective. While they may or may not venture ideas on that next business line, their insights can spark your organization’s next new offering.  

With full schedules it is tempting to delegate collaboration and learning to projects and departments. And those projects and departments may have success, even without your engagement. But why limit opportunities for growth and a better 2023?  

Tom Richert of RisingTerrain supports client project teams and enterprise groups through teaching and coaching collaboration practices and facilitating team alignment conversations. His clients have used lean practices to increase productivity and complete projects more quickly.