When manufacturing sales are increasing and new opportunities can be sensed, it’s natural for thoughts to turn to expanding. However, expansion can be as dangerous to your business as no growth at all. Unplanned rapid growth can destabilise a business giving its owners a false sense of well-being from growing sales whilst the cost of…
Running a manufacturing business can be a juggling act with competing priorities for your time. It’s challenging to find enough time to ‘work on the business’ while also keeping on top of the daily demands of the business.
Operating a manufacturing business without a plan is somewhat like getting into a car, shutting your eyes and starting to drive. You just wouldn’t do it, and if you did, you’d likely not survive for long.
The success of Australian manufacturing is more dependent on the leadership of businesses and the willingness to seek out how to become world class.
One of the most common mantras I hear from manufacturing business owners would have to be “our people are our greatest asset”. Are you doing enough to foster a positive business culture?
Knowing the competitive landscape is one of the most important aspects of building and maintaining a sustainable and profitable manufacturing business.