Your Greatest Competition is Yourself
January 20, 2021 | Barry Matties, I-Connect007Estimated reading time: 2 minutes
It really doesn’t matter who you think your external competitors are, because the only competitor that really matters is you. Of course, you will look externally to stay on top of latest trends, but when it comes to competition, just competing with yourself is a win. When you look at yourself as your greatest competitor you will start with a huge advantage: you already have great intel on how “your competition” thinks. Ask yourself, “What can I do to displace my ‘competitor’ and create something much better?”
Process efficiency: The first area in which to compete is process efficiency. If you can perform your processes in a more efficient way, you will begin to add capacity, increase employee happiness, enjoy higher productivity, and find greater customer satisfaction. This will lead to more sales and ultimately higher profits.
And when we talk about process efficiency this includes all processes: how you answer phones, make sales, process orders, manufacture your products, do your accounting, shipping, filling out paperwork and every other process step in your business. When doing these tasks in your business, think differently. Think in terms of crushing the competition. Albert Einstein said: “We cannot solve our problems with the same thinking we used when we created them.” So, if you are busy chasing your so-called external competition, you will miss the greatest opportunity sitting right in front of you—the opportunity to think differently and compete with yourself.
Use the formula: As we start the new year—what we are calling the year of continuous improvement—it’s a good time to start with the simple process improvement formula: X = Xc – 1. When you look at any current process (Xc), the question you want to ask (and have your coworkers ask) is, “How can we reduce (Xc) by (1)?” It could be one day, one hour, one minute, one less piece of material, one less percent of scrap, one less form to fill out, or it could even be lowering a risk factor or other even less tangible things. By reducing (Xc) by (1) we now have a new (X) and the process starts over.
The tricky part can be deciding what to choose for your first (X). In the early phases of process improvement, the common advice is to start with small improvement projects and grow from there. By doing so, you and your team will be able to feel and celebrate the success and benefits gained. X = Xc – 1 is perhaps a new way of thinking for some. In any case, X = Xc – 1 focuses you and your team to really compete with your greatest competitor—yourself.
This article appeared in the January 2021 issue of PCB007 Magazine.
Suggested Items
Koh Young Showcases Award-winning Inspection Solutions at SMTconnect with SmartRep in Hall 4A.225
04/25/2024 | Koh Young TechnologyKoh Young Technology, the industry leader in True 3D measurement-based inspection solutions, will showcase an array of award-winning inspection and measurement solutions at SMTconnect alongside its sales partner, SmartRep, in booth 4A.225 at NürnbergMesse from June 11-13, 2023. The following offers a glimpse into what Koh Young will present at the tradeshow:
Real Time with… IPC APEX EXPO 2024: Plasmatreat: Innovative Surface Preparation Solutions
04/25/2024 | Real Time with...IPC APEX EXPOIn this interview, Editor Nolan Johnson speaks with Hardev Grewal, CEO and president of Plasmatreat, a developer of atmospheric plasma solutions. Plasmatreat uses clean compressed air and electricity to create plasma, offering environmentally friendly methods for surface preparation. Their technology measures plasma density for process optimization and can remove organic micro-contamination. Nolan and Hardev also discuss REDOX-Tool, a new technology for removing metal oxides.
KYZEN to Promote Pair of Stencil Cleaning Chemistries at SMTA Ciudad Jaurez Expo & Tech Forum
04/25/2024 | KYZEN'KYZEN, the global leader in innovative environmentally friendly cleaning chemistries, will exhibit at the SMTA Ciudad Juarez Expo & Tech Forum, scheduled to take place Thursday, May 9, 2024 at the Injectronic Convention Center in Ciudad Jaurez, Chihuahua, Mexico. During the event the KYZEN Clean Team will focus on understencil cleaning products KYZEN E5631J and CYBERSOLV C8882.
Cadence, TSMC Collaborate on Wide-Ranging Innovations to Transform System and Semiconductor Design
04/25/2024 | Cadence Design SystemsCadence Design Systems, Inc. and TSMC have extended their longstanding collaboration by announcing a broad range of innovative technology advancements to accelerate design, including developments ranging from 3D-IC and advanced process nodes to design IP and photonics.
Listen Up! The Intricacies of PCB Drilling Detailed in New Podcast Episode
04/25/2024 | I-Connect007In episode 5 of the podcast series, On the Line With: Designing for Reality, Nolan Johnson and Matt Stevenson continue down the manufacturing process, this time focusing on the post-lamination drilling process for PCBs. Matt and Nolan delve into the intricacies of the PCB drilling process, highlighting the importance of hole quality, drill parameters, and design optimization to ensure smooth manufacturing. The conversation covers topics such as drill bit sizes, aspect ratios, vias, challenges in drilling, and ways to enhance efficiency in the drilling department.