Taiichi Ohno says:
"In swimming relay, faster and slower swimmers must cover each other a set distance. In the case of a running relay, however, the faster person can cover for a slower person in the baton touch zone."
Damir Perge Commentary: What happens to process efficiency or company efficiency when some people work faster than others? It doesn’t matter what stage your venture is at, there will be people…Continue
Added by Taiichi Ohno on May 26, 2011 at 8:30pm — No Comments
Companies and people have physical assets. What makes a difference in both cases is the intellectual assets. Napoleon Hill used to say the most powerful asset at your disposal is your mind. I’d like to add to that. Actually, your subconscious is the most powerful asset for your venture and your life.
I’m not a psychologist but when you’ve invested into as many entrepreneurs as I have, you learn that there is much to the psychology of an entrepreneur.
From an entrepreneurial…Continue
Vince Lombardi has one of my favorite quotes for startups -- “Fatigue makes cowards of us all.” I’ve said this many times as an entrepreneur and investor during moments when I just couldn’t work any longer -- when I was tired, exhausted or fatigued.
But something strange happens to me when I say that great Vince Lombardi line to myself. The adrenaline rushes through my body and I’m able to catch that wind that’s beyond the second wind. I call it the third wind.
Dell Computers is a perfect example of an analog business model turning into a hybrid. However, when analyzing whether a business uses a hybrid business model, you have to look at it from different perspectives: product, marketing and distribution. Some ventures will have a business model in their product strategy; others will have it in the marketing and distribution components of the business.
Hybrid Business Model Definition: any venture that combines elements from…Continue
Added by Damir Perge on May 19, 2011 at 10:30am — No Comments
I’ve seen few successful entrepreneurs that did not failed before they made it big. First time success is more of an anomaly than reality. The odds are stacked against you in starting a business for the first time and making it big. Numbers don’t lie. In America, four out of five businesses fail within the first five years.
Failure is a funny concept. You can spin failure anyway you want and downplay it, but failure can have a devastating effect on any entrepreneur – whether they…Continue
Added by Damir Perge on May 18, 2011 at 11:00am — No Comments
Taiichi Ohno says:
“Visual control at the workplace makes it possible to let the machines operate automatically when conditions are normal, and lets workers engage in abnormality control when abnormalities occur. Visual control is an important concept. It is directly connected to the two pillars of just-in-time and automation with a human touch.”
Damir Perge Commentary: I touched on this in the previous…Continue
Added by Taiichi Ohno on May 17, 2011 at 4:30am — No Comments
If you’re going to be successful in your venture, you must visualize the vision for your company. “Where there is no vision, the people perish,” is a great quote from the King James Bible, Proverbs 29:18. This applies to entrepreneurship, investing and your life.
You must visualize success – even if your company is competing, against all odds, in a marketplace full of intense competitors. Look at the fast food, hamburger market. You’ve got the big boys: McDonald’s, Burger King,…Continue
Added by Damir Perge on May 15, 2011 at 3:30pm — No Comments
As a small business start up or current owner, learning negotiating skills is very important. Believe it or not, there are literally thousands of negotiations that can affect your business and your bottom line. These items can can be as simple as getting a discount for your business cards or as complicated as a facility lease. It might be negotiating pay plans with employees or payment terms with a supplier.
The bottom line is most schools do not teach the art of negotiating. And…Continue
Added by Mike Daley on May 15, 2011 at 1:30pm — No Comments
Taiichi Ohno says:
“Maybe I am a perverse sort of person: I have a habit of reversing the process in my thinking. Using this process, I began to think that all we had to do was let the process that needed parts go to get what was needed, when needed and in the quantity needed. In this, I simply reversed the system of transport.”
Damir Perge Commentary: I hear it all the time -- companies are…Continue
Added by Taiichi Ohno on May 10, 2011 at 9:30am — No Comments
You likely learned your first lesson in discipline from your parents. Your next lesson probably came from your grandparents (if you’ve been lucky enough to have a close relationship), then most…Continue
Added by Damir Perge on May 9, 2011 at 5:30am — No Comments
My favorite question to ask entrepreneurs is, “What is one of the most important traits, if not the most important, for an entrepreneur to have – especially in the startup phase of the venture?” The answers are interesting. They vary from persistence to perseverance to enthusiasm and traits like confidence.
I have funded more than 30 entrepreneurs. And as I look back on the personality traits of each of them, the most important trait any entrepreneur can have is…Continue
Added by Damir Perge on May 6, 2011 at 5:00am — No Comments
Taiichi Ohno Says:
“Have time on hand. When there is no work, we do not want them to do something unnecessary. It is better for them to remain where they are and do nothing.
Workers are forced to have time on hand because they are only assigned that much work. The fault is in the assignment and cannot be assessed against the workers. When they have time on hand, their group leaders and foremen will know the situation immediately. This provides an opportunity…Continue
Added by Taiichi Ohno on May 5, 2011 at 11:00am — No Comments