Stack the deck in your favour

Is lean the right fit for your business?

- SEAN FIELDS AND MICHAEL SANDERS

Many companies turn to lean1 thinking and practices in hopes of achieving breakthroughs in efficiency, profitability, and customer satisfaction. Too many, however, fail in their attempts. What began with a bang ends in a whimper, leaving executives and business owners feeling frustrated and disappointed.

Moreover, such failures dissuade others from even considering lean in their own companies. If you are one of them, we have good news. With the right preparation, you can avoid the most common mistakes and stack the deck in your favour.

To begin, work with your leadership team or closest advisers to ask five critical questions:

1. Is lean right for us, right now?

While lean can certainly help a company, it is not right for every business, every time. For instance, if your business is losing ground due to outdated or second-rate products, start with improving your product line first. Or if market demand is declining—as it may be now, for example, amidst the current COVID-19 pandemic—think about a diversification or marketing initiative instead.