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IWF Education: Need a Survive and Prosper Strategy? Consider What Needs to Change in Your Company

20. April 2020 15:11

 

 

Christine Corelli offers 5 of her popular management sessions at IWF 2020. Learn more and register>>

» BMG12 -  Managing and Motivating Millennials - Plus Are You Ready for Gen Z?!

 » BMG13 - Are You a Boss? Or a Leader? - Would You Work for You?

 » BMG14 - Powering Up for Prosperity - A Program For Women in Leadership

» BMG15 - Business Has Changed - What Needs to Change in Your Business?

» BMG16 - How to Avoid the Family Owned Business Blues and Excel as a Family Owned Business

By: Christine Corelli, President: CHRISTINE CORELLI & ASSOCIATES, INC.

Do the coronavirus and the affect it has had on the economy have you bewildered? Feeling frustrated because there are more downs than ups in your business? 

You are not alone. Covid-19 and the economic woes it has brought about have had an impact on virtually every aspect of business. 

We hear about it all day long. Everyone is under immense pressure to deal with lost revenue, additional financial challenges, and global uncertainties. 

This situation is heartbreaking to me, not only because of the death toll, the death of a very close friend, the cancellations in my own business but also because of this: When I was presenting sessions at IWF Atlanta 2018, attendees and exhibitors with whom I interacted told me their businesses were doing great. Most were experiencing impressive business growth and profitability. 

 

So what. Now what?

Hopefully, we might think that since the economy was fundamentally strong before the Coronavirus that we’ll have a vigorous recovery once COVID-19 passes. The truth is, while I’m the ultimate optimist, no one can be sure. 

 

Doing what needs to be done

To rise to these challenges, businesses have downsized, put people on “furlough”, and retrenched. Reduced hours and reductions in wages have been put in place. These cost-cutting measures are painful but vital to survive what is often referred to as “The Perfect Storm.”  

 

The questions remain

While most business professionals have decided to “wait and see what happens” and ride out this storm, the questions remain:

  • How long will this last?
  • What else should we do now to run our businesses without going under and position ourselves for a successful future?

 

Being proactive -- the best way to go

You can’t control what is occurring, but you can control how you react to it. These situations separate the weak from the strong. They are akin to what might be referred to as Economic Darwinism—the ultimate survival of the fittest. In reality, it’s the smartest, most creative, and most proactive businesses that will not only survive but prosper in the future.

 

What else should be done? 

Because every business is different there can never be a “one fits all” solution. Nevertheless, taking the right actions will help protect your company and prepare you for future success. 

Don’t simply handle the impact of the economy by downsizing, reducing hours or wages buy looking deeper into cost control, reexamining your competitive strategy, improving efficiency and building relationships.  

 

The following actions to consider:

 

Examine your business processes to improve efficiency

Implement changes in your business processes. Analyze every function, procedure, policy, and aspect of your business. This process of pulling your business apart and giving it intense scrutiny will help you to find ways to not only cut costs but improve operations. 

For example, you might consider centralizing job functions so you can operate with fewer administrative people or fewer people overall. Work to create a highly effective and efficient infrastructure for your company that will put you far ahead of the competition when the storm subsides. Do a reality check for every single function in your company. What would be the consequences of not having that particular position? This is a tough job but, but you have to make tough choices.

 

Examine the touchpoints of the customer experience

Take the time to formalize systems and procedures that work. Determine how you can provide a superior level of service than your competitors and demonstrate a higher level of caring and professionalism. Make every effort for your customers to do business with you—now and in the long run. Create the highest standards for customer service and establish “guiding principles” for how your staff will treat customers. 

Your ultimate goal should be to provide a flawless service experience. Prepare a manual that documents everything involved in customer service so your entire staff has a playbook they can follow and get the right result every time. 

 

Renegotiate your contracts and providers

If you haven’t already done so, review your costs for insurance, office equipment, phones, uniforms, vending machines, water supply, utilities—any service or product that represents a large portion of your expense load. Ask everyone for a better deal. And that includes your banker and health-care provider.  

 

Enlist your staff’s assistance in identifying nonessential expenses and avoiding waste

Far too often, businesses have underutilized employees' suggestions and ideas. They rarely hold brainstorming meetings. You will be amazed by the creative ideas your team can come up with if you make the meeting and the exercise interesting and collaborative. 

Hold a meeting to discuss how to avoid unnecessary spending and cut costs. Help your staff to understand that, talent aside, cash flow is the name of the game. 

Break into teams and have a reward for the team that comes up with the best ideas. Let them know no detail is too small and little things can make a big difference to your bottom line. Provide a few examples such as shutting down their computers at night, shutting off lights, keeping heat and air-conditioning at a minimum, going easy on the gas pedal when using company vehicles, and avoid unnecessary driving. 

After your initial meeting, establish an internal team of “cost specialists” from different departments to make suggestions on finding ways to minimize expenses and to increase accountability. Employee involvement is the key to cost control. Providing small rewards will often elicit great ideas on cost savings that will reap impressive results. 

Another good reason to conduct this session is that is an excellent team-building activity. If you want to survive and prosper, teamwork is essential. 

 

Enlist your staff’s assistance in surveying them to answer the following questions:

  •             What, in your opinion are our strengths?
  •             What should we keep doing?
  •             What should we stop doing?
  •             What needs to change?

 

Boost your marketing and advertising 

Cutting costs is a smart move, but not when it comes to marketing and advertising. Boost your marketing and promotions efforts. Failure to do so can impede your presence in the marketplace and lower your chances of acquiring future business. Instead, consider changing the style of your ads so they are different than your previous ads. Make them more eye-catching and appealing. 

 

Redouble your efforts 

Spend more time on the phone and redouble business development and relationship-building activities. Your competitors may be asleep at the wheel and are just waiting until the economy turns around. You and your sales team should be the ones to forge ahead.  

 

Add value – but make sure it is worth it

Don’t make the mistake of thinking that throwing something in for free is adding enough value to impress customers. Create a value-added offerings package or program that will make your customers say “WOW.” 

Use focus group research to determine what your customers really want. Tap into your creativity to think of what you can do that your competitors are not doing and use it to truly differentiate yourself in the market. 

 

Assist key customers in every way possible

Work with key customers to assist them in any way you can in the downturn. Reach out to them and show them you care about them. Show them you understand how their business has been affected. For example, help them to manage and maintain their existing equipment more efficiently to help reduce their costs. Offer your assistance in every way possible. This is critical to do during tough economic times and will help you to protect your turf when competitors attack. 

These actions will help tie you closer to them when the economy rebounds. You will find that customers are extremely loyal to those who help them during an economic downturn. 

Reconnect with past customers. Make queries to find out more about their present situation. If they were customers in the past, there is a good chance that they can be customers in the future. Never give up the opportunity to bring them back into the fold. Invite them to these events as well. 

 

Show your customers you appreciate them 

Make sure your customers are made to feel important—very important. What has your company done lately to show your customers that you appreciate them?

 

Get your “house” in order 

    

Staff 

The time could not be better to get your house in order. Evaluate your entire staff. Who are your high contributors and long-term players? Who are the best “team players”? Who works best with customers, employees, and business partners? Who best fits the vision of what you want your organization to be and where you want to go? Who can “play more than one position?” 

Judge employees on how well they demonstrate your core values, how well they work with others, their technical ability, the quality of their work, their level of productivity, the level of service they provide and the attitude they bring to your customers and their co-workers. Judge your managers by their leadership skills and ability to execute your competitive strategy. 

Hard as it is, remove anyone who might hold your team back from success. Then, do everything you can to retain your top performers. Provide them with small rewards, appreciate them, and give them big recognition. You can’t afford to lose them. If need be, consider where you might transfer top performers to other departments instead of letting them go. 

 

Training

When the economy slows, it is the ideal time to invest in your employees—especially when it comes to training. Unfortunately, many businesses have taken training out of their budget. The tendency is that they look upon training as strictly an expense and not as an investment in the future. While it is important to control expenses, training is an expense that affects employees’ skills and knowledge. 

World Class dealers know how important it is to be a learning organization that learns faster than their competitors. Training builds organizations. Sales increase. Mistakes are avoided. Productivity is increased. Morale is improved. 

Make continuous learning and improvement a strong part of your strategy for survival and success. Provide training on leadership, communication, teamwork, and customer service skills to everyone in the company and make sure these skills are applied. Never assume your staff automatically knows how to handle every situation and all types of customers. It is your job to provide them with the knowledge to do so—appropriately and in keeping with company policy. There are numerous on-line programs you can utilize.

Enable your workforce through training, then empower them to make decisions to serve customers when all of this is over.  

 

Culture – Everyone is “in Sales”

Make it a major strategic initiative to radically transform your culture into one of “High Performance.” Review your core values and establish “guiding principles” on how everyone should demonstrate the values of honesty, integrity, teamwork, respect, customer focus, accountability, excellence, health, safety family, and social and environmental consciousness, and your other core values.

Set achievable and ideal goals for sales. Inspire your sales team by showing them the commissions they will make instead of the figures you want them to hit. Be accessible to them and help them to close sales. Also, ask them to identify ways the entire company can better support sales and dramatically improve customer service.

 

Leadership – Everything starts and stops with it

Remember whose job it is to keep your staff motivated through challenging times…YOURS! It all starts at the top. Through challenging times, it’s always up to the leader to keep his or her people motivated. Display dynamic leadership. Set the example for cooperation and service excellence Treat your employees as well as you treat your best customers. Demand the same of all managers. Adopt a “Zero Tolerance for Bad Bosses” policy in your company. 

As a result of this commitment to get your house in order, your organization and team will become the highest quality it has ever been. You will be well-positioned to prosper in the future. 

 

Invest in technology and equipment that reduces your operational cost, improves quality, and increases your contact with the customer.

Use technology as the driver and the tool for business growth, increased productivity, improved communication and connectivity with customers. If your software is more than five years old, it’s time to upgrade. There are new and affordable technologies being created every day that can make a big difference in your bottom line. Obtain assistance from experts on technologies that will best suit your needs.  

 

Visibility is as important as ability

 

Attend IWF ATLANTA. Take advantage of the excellent education and networking opportunities it provides to form relationships with peers, suppliers, and industry experts. Keep in mind, that often the strongest relationships are formed during tough times. Do say hello if you attend one my sessions.  

 

Change the way you think. Don’t let the economy steal your enthusiasm.  

 

With so many people worried about the future of their business (with good reason), it's no wonder so few are enthusiastic these days. Perhaps we should learn from the wise. I believe Walter Chrysler said it best: 

 

"The real secret of success is enthusiasm. 

Enthusiasts are fighters. 

They have fortitude. 

They have staying qualities. 

Enthusiasm is at the bottom of all progress. 

With it, there is accomplishment. 

Without it, there are only alibis." 

 

With this in mind, how about taking Chrysler's advice? Regardless of your circumstances, make every effort to stay afloat and refrain from losing your enthusiasm for your business. Is it easy? Of course not. But if you lose your enthusiasm, your customers and employees will sense it. When the economy is down, you need to be up. If you are exhibiting a “survival” mentality, change it to a “positioning for prosperity” mentality. 

 

The Bottom Line 

You will agree that business has changed. There is no “business as usual.” Execution… taking action on smart decisions must be a strong part of your survive and prosper strategy. It will give you the staying power you need to meet the current challenge…and come out ahead. 

 

To see more from Christine, register for one of the sessions she will presenting at the IWF 2020 Education Conference. Check out more about Christine and here sessions here.

 

 ©Copyright, Christine Corelli & Associates

Christine an author, speaker, and consultant. She has been a popular presenter at past IWF events. To learn more, visit www.christinespeaks.com or call (847) 477-7376

A Holistic Approach to Finishing - Step 2

8. October 2019 09:36

By: Joe Baggett, Innovative Wood Process Solutions

So, here is where it begins to get exciting. The formulation phase is where dreams begin to come true! Once the Performance/Aesthetics/Value are established it’s time to formulate.

The good news is that coatings manufacturers have been hard at work so much so that standard offerings of formulations have seen more development the last 15-20 years and especially in the last 5-10 than in the previous 100 years. From the first varnishes and Shellacs to today’s modern lacquers, varnishes, polyurethanes, UV, polyesters, and water-based coatings have higher performance applicability. Also, the technology to apply these coatings has been developed commensurately with the chemistry and formulations.

It is important to draw a linear distinction in this process; the formulations must fit the strategy and requirements of step I. Often people go buy a finishing line because it is good deal, but are then constrained with the coatings it applies well or they run coatings it wasn’t designed to run inefficiently.

Establishing the formulations that meet the discovery of the requirements in step one is critical. If the finishing journey doesn’t follow the sequential process there will be greater challenges down the road. So many will not find themselves at the starting point or with a clean slate in their finishing journey. That’s okay because following this process sequentially will help finishers get the most bang for their buck with their existing equipment and processes while planning for the future.

Holistic Wood Finishing Process Cycle

I don’t profess to know all the coatings that are being developed at this very moment (seems like I’m learning of new ones all the time) so I would like to begin with a rough guide but also supply the context and questions with which it may be applied in the midst of constant coatings development. I have been blessed to work directly with some great chemists and application specialist and they have helped shape the context in which we can ask questions.

 Each chemistry of coatings has different chemical and physical properties that lead up to its final performance and appearance in the plant and the field. Many of these coatings now come in water-based and solvent-based versions even if they aren’t designated as such in the chart below. Also, for the record all water-based coatings aren’t the same nor are solvent-based coatings. Too many times in their coatings journey I hear people discount testing water or solvent-based coatings by over-generalizing them.

The chart below is meant to serve as a guide to ask questions in each category the rating and comments are meant to serve as a discussion point. I’m sure there are outliers in each category but please be encouraged to ask questions from a context. Some of the best formulations in wood coatings are the brainchildren of asking the best questions.

Basic Coating type  

Appearance/Performance
Characteristics

Bleaching Whitewood Color

 Blending agents/processes Tones whitewood colors by removing natural pigments from the surface of the wood. 

Toner 

Tones whitewood color usually with dyes and a clear

NGR 

Dyes in solution used to create color and penetrate the wood grain

Wash Coat 

Tinted initial coat to provided background to subsequent stains and clears tones whitewood color and grain. This is clear mixed with pigment or dye to reduce the blotchy effect in wood color

Wiping stain 

Usually sprayed on then wiped off after drying briefly usually pigmented with some dyes and binder and solids

Spray no wipe 

Dyes with some pigments this creates color usually in one application sometimes two for darker colors. Usually lower solids and binder contents than wiping stains dyes may flip under UV curing light


Chart for clears and opaque pigmented finishes (click to open PDF)
(note many of the clears can be tinted with dyes or pigments as well)

So now we can take the discovery of step I and begin to apply it to the coatings that match up with the strategy we established for the Performance/Aesthetics/Value. It is important to select coatings and test them and develop hard samples that all functions in the organization can agree to and even sign off on in certain circumstances. I would encourage again that this selection and testing of coatings be done with several different coatings suppliers. At this point an organization creates the real-life versions of the finishing system that will be game-changing and difference-making!

The next step in the holistic process will environmental permitting. This will also have an impact on the formulations but it critical that the finishing system determine what will make a difference and not just be an improvement. If the formulation journey starts with the environmental permitting many times some of the best formulations aren’t considered or developed when they should ask what do we need to do from an environmental standpoint to use the best formulations.

Joe Baggett is President of Innovative Wood Process  Solutions. Reach him at iwpsolutions19@gmail.com,    817-682-3631. www.iwps.biz

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The Plan We Use for Running Our Woodworking Business

25. September 2019 10:58

By: John Lindsay, New Breed Furniture LLC
As readers who have been following me so far know, I find this home-grown, five-part business organizational tool essential in managing my growing wood manufacturing business. The system is called "A.M.O.R.I." - A is for administration, M is for marketing and sales, O is for operations, R is for research and development, and I is for Investments and Intellectual Property.

Let's run through an update on of how New Breed Furniture’s current business development projects fit under this system, one letter at a time. Hopefully, you will find some insights into the AMORI system through these concrete examples showing how the system plays out in a real-world woodworking business. And maybe some of these specific ideas could even work for your company. 

So let's start with A for Administration, and look at the development of New Breed Furniture's Discount Policy for Volume Purchases.

A - Discount Policy

When New Breed first broke into the furniture world, we were a very small fish in a large and red ocean. More on red and blue oceans later (see Blue Ocean Strategy by W Chan Kim and Renee Mauborgne, published by Harvard Business Review), but let’s just say there was and still is a lot of competition, which we were and are ready for.

What we weren’t ready for and aware of was the vast network of middlemen/women we would have to cater to. What we had to master was our wholesale and retail pricing.

If we wanted to place our brand new New Breed Furniture into high-quality chic furniture stores, we would have to be good little wholesalers and offer our work at 40%-50% off (sometimes as much as 55% off for floor models) the final sale price (M.S.R.P.). So we did it for the first few years, always at a loss because the orders were always small.

We believed, rightly so, that this was key to getting our products out in front of the right people, helping us to gain traction as a brand, opening other doors in hospitality and commercial commissions. In short, I wouldn’t do anything different, and that includes eventually doing everything differently when I decided to pull focus away from our original wholesale offerings and launch our own online store.

This second phase allows us to keep our prices down for the end user while increasing our RPT (revenues per transaction). So, now the name of the game is crafting the right discount policy, one that incentivizes the right kind of customers while protecting our RPT. The truth is that we just don’t have that much of a discount to offer, maxing out at a third off MSRP, rather than 50%, 

for the rare client that can deliver massive annual sales. Our new strategy is to go after direct sales, leaving the middlemen/women behind.

So here’s New Breed Furniture’s new discounting policy: a long list of the New Breed family, including repeat customers, designers, a  few supportive retailers, industry professionals, and makers will be issued their own representative code, that when used will offer a two-fold discount/credit, starting at 8%-16%, in which the user of the code gets an immediate 8% discount, while the representative get the same amount in future credit.

This percentage increases with the amount of purchases made under any given representative. Now, for example, if a client like our beloved repeat customer Cortney Bishop Design places the order themselves, using her own representative code, then she gets to enjoy both the discount and the credit for future purchases, making for a more conventional wholesale experience, but not quite totally the same. 

Level annual sales discount

  1.  $0-$24 →8%-16%
  2.  $24G →9%-18%
  3.  $48G →10%-20%
  4. $96G →11%-22%
  5. $192G →12%-24%
  6. $384G →13%-26% 
  7. $768G →14%-28% 
  8. $1,536G →15%-30% 
  9. $3,072G →16%-32%

We're on the letter M of the AMORI system. Hopefully, through these concrete examples showing how the system plays out in a real-world woodworking business, you may find specific ideas could even work for your company.

M - Coupon Design and Distribution

New Breed Furniture just finished paying off a Printa Systems Screen Printer (www.printa.com) and more in an early effort to make possible in house promotional materials and merchandise. The first projects will be shirts, postcards, flyers, and smaller posters. We have been working on a great stylebook for all these printing projects and more, including patches, buttons, stickers, and pins, but it was when I was working on new business card designs that this whole discount policy I previously discussed found a cool new expression and marketing idea. (Click for larger view of image.)Our first business cards were a bi-fold design (2” x 7”) with the front featuring a close up of our Petalply joint illustrated with black lines, four shades of white, and a cut out of wood grain where the dowel ends are. The inside of the card features what we called the “Galleria” in which our custom font spelling New Breed Furniture Network diminishes in perspective with line illustrations of a selection of furniture in the foreground.

With this new design, the line illustrated products will be on the front side, with the inside of the cards dedicated to a personalized cards for the list of the New Breed family described above on the right side, and the left card with tear away center being a New Breed coupon complete with the dedicated discount code also described before.

So imagine getting a box of these business cards that contain coded coupon cards that you can share with anyone you may know that may be interested in New Breed Furniture, and as the sales are placed, your New Breed Bucks accrue, allowing you to obtain more and more furniture for less and less. I consider this type of marketing a pre-emptive sales representative recruitment strategy.

Without even asking strategic enthusiasts will be giving an opportunity to fill the role left by the former retailers. This approach is in line with a continuum of business plans we are developing that blur the lines between consumers and producers, customers and salespeople, employees and owner-operators, but more on this in later episodes.

O - Dynamic Shop Design (D.S.D.)

Currently, New Breed operates out of a 4,000 square foot building with a full 4,000 square foot basement, and an added 2,000 square feet of combined garage and driveway. If we were to set up our machines and production with a traditional approach, dedicating space to permanent setups, we would quickly have a space shortage problem when larger orders or multiple orders are in progress.

Thanks to a conscious effort to offer solid wood furniture that relied on lower-tech manufacturing, we have been able to produce our work with-out cumbersome CNC machines and space-hogging equipment. This allows us to have all the machines and workbenches on wheels, in fact an effort has been made to develop storage solutions for our hand equipment and supplies to also be made mobile, thus we are able to increase our production space by an order of magnitude.

We have dedicated a small percentage of our floor space to be an area to consolidate inactive machines/benches/storage, freeing up the main production space to be organized daily for the tasks at hand. Also, by organizing the work into monthly batches, we are able to get the most out of each setup. The difference is amazing. Just from a material handling perspective, the efficiencies are stunning. Instead of the lumber going from one dedicated machine to the next, often ping-ponging back and for, zigzagging all over the shop, the lumber gets centrally placed, and the machines come to it, saving both our backs and our sanity.

The best part is how with each breakdown, the area gets a more thorough emptying out the area, cleaning out of the inevitable junk that collects in any workspace. The production space takes on the feeling of a Dojo, and the work enjoys a more serious concentration thanks to the lack of distracting clutter.


R - Abacus Desks

Often our new product development is born out of opportunity and necessity. When we were offered a chance to collaborate with AH Interiors out of Bozeman MT, on an exciting commercial project, Jelt HQ, we jumped at the chance to throw our hat in the ring and design a new line of desks and tables to go with a custom credenza that spanned close to 20 feet.

Liking what AH Interiors had first presented us, we used some of their details to inspire a new take on the Petalply system, and so we are now in production on a new line of desks we call the Abacus Desks, inspired by the classic trestle table. These desks have horizontal 2” dowels that serve as both the trestle like structure, holding the legs solidly square, while also facilitating sliding file cabinets that can run along the dowels like an abacus. The lower dowel will also make for a unique kind of footrest, and for the first time we will be offering motorized adjustable height desks that incorporate the Abacus file cabinets.

I - Retail Work Space and First Friday Furniture Festivals

Currently, we are converting a 2,000 square foot garage and enclosed driveway to what will be a finished show room space, along with another 1,200 square feet currently inside the shop. Once this remodeling is complete, and we have the floor pieces ready we will be advertising a regular monthly event, the First Friday Furniture Festival showcasing our work, other merchandise we create with our screen printing facility, fresh sushi and fruit, wood themed locally crafted beer and coffee, and eclectic live music.

Thanks to our Dynamic Shop Design mentioned previously, we are able to convert our work space into a disco palace, facilitating both furniture shows and dance parties. These events will be targeting an exclusive class of designers, industry professionals, and enthusiasts. The goal is to host a regular gathering that will be sinked with our monthly productions, allowing us to share our work fresh out of the oven, while gathering a concentration of design rock stars and influencers. I will definitely be sharing more on this in upcoming episodes.

John Lindsay is President of New Breed Furniture LLC. Reach him at john@newbreedfurniture.com 847-946-7867. www.newbreedfurniture.com

A Systematic Approach to Running a Small Furniture Operation: How I Use A.M.O.R.I.

13. September 2019 11:35

By: John Lindsay, New Breed Furniture LLC

 Here's a quick review of the management system acronym that I have been featuring in this blog: A.M.O.R.I. 
As readers who have been following me so far know, I find this home-grown, five-part business organizational tool essential in managing my growing wood manufacturing business. The system is called "A.M.O.R.I." - A is for administration, M is for marketing and sales, O is for operations, R is for research and development, and I is for Investments and Intellectual Property.

In the next series of five blogs, we'll run through an update on of how New Breed Furniture’s current business development projects fit under this system, one letter at a time. Hopefully, you will find some insights into the AMORI system through these concrete examples showing how the system plays out in a real-world woodworking business. And maybe some of these specific ideas could even work for your company. 

So let's start with A for Administration, and look at the development of New Breed Furniture's Discount Policy for Volume Purchases.

A - Discount Policy

When New Breed first broke into the furniture world, we were a very small fish in a large and red ocean. More on red and blue oceans later (see Blue Ocean Strategy by W Chan Kim and Renee Mauborgne, published by Harvard Business Review), but let’s just say there was and still is a lot of competition, which we were and are ready for.

What we weren’t ready for and aware of was the vast network of middlemen/women we would have to cater to. What we had to master was our wholesale and retail pricing.

If we wanted to place our brand new New Breed Furniture into high-quality chic furniture stores, we would have to be good little wholesalers and offer our work at 40%-50% off (sometimes as much as 55% off for floor models) the final sale price (M.S.R.P.). So we did it for the first few years, always at a loss because the orders were always small.

We believed, rightly so, that this was key to getting our products out in front of the right people, helping us to gain traction as a brand, opening other doors in hospitality and commercial commissions. In short, I wouldn’t do anything different, and that includes eventually doing everything differently when I decided to pull focus away from our original wholesale offerings and launch our own online store.

This second phase allows us to keep our prices down for the end user while increasing our RPT (revenues per transaction). So, now the name of the game is crafting the right discount policy, one that incentivizes the right kind of customers while protecting our RPT. The truth is that we just don’t have that much of a discount to offer, maxing out at a third off MSRP, rather than 50%, 

for the rare client that can deliver massive annual sales. Our new strategy is to go after direct sales, leaving the middlemen/women behind.

So here’s New Breed Furniture’s new discounting policy: a long list of the New Breed family, including repeat customers, designers, a  few supportive retailers, industry professionals, and makers will be issued their own representative code, that when used will offer a two-fold discount/credit, starting at 8%-16%, in which the user of the code gets an immediate 8% discount, while the representative get the same amount in future credit.

This percentage increases with the amount of purchases made under any given representative. Now, for example, if a client like our beloved repeat customer Cortney Bishop Design places the order themselves, using her own representative code, then she gets to enjoy both the discount and the credit for future purchases, making for a more conventional wholesale experience, but not quite totally the same. 

Level annual sales discount

  1.  $0-$24 →8%-16%
  2.  $24G →9%-18%
  3.  $48G →10%-20%
  4. $96G →11%-22%
  5. $192G →12%-24%
  6. $384G →13%-26% 
  7. $768G →14%-28% 
  8. $1,536G →15%-30% 
  9. $3,072G →16%-32%

Next time we'll look at the M in AMORI, Marketing and Sales - and talk about New Breed Furniture's approach to coupon design and distribution. 

A Holistic Approach to Finishing

27. August 2019 10:38

By Joe Baggett

I am reminded of a scene from the old movie Unforgiven where Clint Eastwood looking to exact revenge walks into a saloon and asks who owns it. The bar tender raises his hand and claims to be the owner, and Eastwood shoots him dead.

Gene Hackman who plays a corrupt sheriff exclaims that Eastwood just shot an unarmed man, to which Eastwood replies, “He should have armed himself.” To remain cutting edge in finishing we need to always “be armed” with the best information and questions.

In the first couple of articles we focused on the “How" questions we ask and the ways they shape our worlds. We also noted how some parts of the woodworking industry have become so specialized that they are their own world.

Don’t get stuck unarmed in an obsolete world. Let’s remember the best answers come from the best questions, and the best questions provide the deepest understanding.

We will start with finishing as it always seems to be the most popular area of concern. The future isn’t what it used to be. Industrial wood finishing in regards to chemicals and equipment has changed more in the last 25 years than it had in the previous 100. You can expect it to continue to outpace the rate of change for other parts of the wood industry due to increasing environmental regulations, demand for higher performance, usability, and the effort to lower costs.

In the last five to 10 years there have been major coatings and technological developments in curing and application, so the future will most likely never be what it used to be. That's why you should adopt a holistic approach to stay abreast of technological developments that can create the highest value for your wood finishing processes.

Some may question if there is a high-level holistic process that really applies to all wood finishers. I would say yes, unequivocally.  Let me say that every year I hear or experience first-hand wood finishers who order equipment or make plans to move to a new coating and don’t do the environmental due diligence and or don’t develop a coating that performs at a high enough level to meet the customer's expectations.

Sometimes the equipment waits for long periods of time before it can be used due to environmental permitting. If the finishing journey doesn’t start at the starting point, eventually the environmental regulatory agency or the customer will bring it back to that starting point.

That said, to be a leader in finishing and create the highest value, every question in regard to a successful finishing journey is best asked from the standpoint of what would be game-changing and revolutionary in regard to creating the highest value for the organization and the customer. 

A finishing journey that starts by asking how others are succeeding in finishing and then seeks to emulate them,  assumes too much.  The value of another’s experience is to give us hope not, to tell us how or whether to proceed.

Holistic Wood Finishing Process Cycle

No great finishing system was ever created by copying another finishing system. That said, many small- to medium-sized wood finishing operations who want to scale up don’t start at the starting point. Sometimes they don’t even realize the environmental permitting they follow. I have seen shops make major coatings plans and investments before considering it. This occurs with larger wood finishing operations as well though less often.

The good news is there have been more innovations in coating formulations, coating application and curing technology and environmental controls in the past few years. Harnessing these innovations using a holistic approach is the key. Sometimes we delude ourselves into thinking that following a holistic process like this with good questions and understanding will take too long and cost too much. If that is a concern, I want to share a few good reasons for why it is better to use holistic approach:

a. Most wood finishers don’t know their target and true transfer efficiency or track it on a regular basis. Just like rough mills live and die by hardwood yield the best finishing operations live and die by transfer efficiency.

b. An estimated 80% of the perceived value in finished wood products comes from the performance and aesthetics of the finish. The average amount of time, effort, understanding and organization in wood finishing operations isn’t proportionate to the perceived value.

c. The majority of accounts/customers that are lost due to quality are issues are classified as finishing defects.

d. Finishing equipment has the highest rate of obsolescence in cost and time compared to other woodworking machinery.

e. More wood products are being sold unfinished than ever before or are being purchased as pre-finished components then sold with other components and larger assemblies.

f. Ignoring environmental regulations and permitting thinking that it costs too much will always result in higher costs and potential other business/operational problems down the road.

g. The highest value finishes are the ones that help create a brand and have the value and performance that get and keep customers excited. This isn’t a cheap fast process.

Let’s look at how to get started with the holistic process in the graphic above. Let me first say that this process is most successfully done with a combination of leadership and technical knowledge and that is why there is an abstract picture of leadership in the middle of the graphic.

1. Start every question in the context of what is game-changing and difference-making; first ascertain the value, performance, aesthetics, and cost that would make a great finish for the wood products that are being brought to market. What finish would help make a difference in the brand? If the new or revised finish doesn’t do these things it probably won’t make that big of a difference.

2. Have discussions with several coatings suppliers, equipment suppliers, and other design and technical specialists. Engage the marketing, brand, product development, and manufacturing leaders in the organization to develop key insights. Use third-party labs to perform tests. Sometimes for high performing finishes, these test results can be used as marketing materials. What we want to do is develop a winning strategy for finishing.

3. Make up a one-page document that states how the winning finish will perform, aesthetically appear/feel and what value it will have in cost to manufacture and what the customer would be willing pay for in the context of experiencing a great finish. It helps to make this as objective as possible.

When this process isn’t used many people just ask how can we do what we have been doing better? Very seldom does an improvement of an existing finishing system in simple formulation or application make a big enough difference to be a difference-maker or game-changer.  I encourage everyone who has a stake in creating game-changing/difference-making finishing systems to create something new! The next four articles will dive into specifics for each step in the holistic process from the graphic above.

Joe Baggett is President of Innovative Wood Process  Solutions. Reach him at iwpsolutions19@gmail.com,    817-682-3631. www.iwps.biz

The Cure For Jack of All Trades Mania Broken Down

7. August 2019 21:47

By: John Lindsay, New Breed Furniture LLC
In my last entry I shared an acronym I came up with that helps simplify what any kind of business owner needs to focus on, and here it is: 

Administration

M  Marketing and Sales

O  Operations

R  Research and Development

Investment and Intellectual Property

But before I give an in-depth explanation, my editor suggests I explain a little about
my own woodworking history. 

As the owner and principal designer of New Breed Furniture LLC, I have been developing for the last ten years a complete line of furniture including chairs, stools, benches, side tables, coffee tables, dining tables, conference tables, desks, dressers, credenzas, consoles, shelving systems and more all based on one beautiful innovation, the Petalply knuckle joint.

This discovery came after close to a year of research and development working with hundreds of 1/10th scale models and full-scale prototypes, searching for a wood-centric manufacturing system that also made for a great design language. Happily, something truly original and beautiful was realized. Structural components such as legs, arms, and stretchers combine and rotate around a structural dowel/tenon, maximizing glue surface while stabilizing each component, eliminating cupping or bowing of the wood. 

The tabletops defy the norm by not merely sitting over a base, but rather by spanning between component parts, resulting in a fully integrated monolithic structure. Add to that the creative use of penetrations in each piece that both allow for seasonal wood movement while freeing light and space to travel through and around each piece, creating a highly sculptural experience.

The effect is an amazingly strong structure that proves to be eye-catching, truly an example of beautiful forms defined by function. The shapes of the different components resemble the petal of a flower, and the layered glued components with alternating grain act like a muscular alpha plywood, thus its name “Petalply”. 

Of course my work includes other joinery techniques, each chosen because they are the best solution to the varied challenges of building furniture for so many situations, such as tongue and groove as the principle joint for all the case work, for both boxes and drawers. And then there is also my fascination with thick alternating solid wood veneers that are pressed and engineered to be both stable and durable, combining three, five, and seven veneers for different applications like doors and table slabs.

But it has been the Petalply joint that has been my main interest for this many years, so much so that it is almost embarrassing. I’m kidding when I say that, but there is a strange relationship in which I feel I am more its apprentice than I its inventor. Please forgive me if I belabor and gush about this work, but its been truly pleasurable pleasing customers employing it for so long.

The truth is, I’m yet to get sick of the process, I’m talking after tens of thousands of hours later, and it keeps proving a reliable technique for so many situations. Anyway, when you find a process that you love that offers great results, hang on to it, and double down on it, that’s what I’ve done with this. So, if you get a chance to search through my website, www.newbreedfurniture.com, and follow my social media you can judge for yourself if you think I’ve invested in something worth while, and if so then maybe what I will be continuing to write here might be worth reading, or not? 

To circle back around, in my last entry I proposed five questions: 

A Whether furniture, cabinetry, and millwork companies ever go back and analyze what parts of their initial estimates and systems for bidding were accurate?

M How to spend marketing dollars and time?

O How to use the shop floor in concert with the available storage to get best performances and build the best products?

 R How should a smaller to medium scale artisanal manufacturer continue developing their product line’s design languages while filling orders, collecting money, packaging and shipping, etc?

 I  Can you imagine being a venture capital fund that made strategic investments in parts of your business, expecting to see real return on investment?

Sadly I will have to tackle these questions in the coming editions, for now I must get a material order placed for my next exciting new commission, a new series of desks, a large wall console, custom conference and lounge tables for a company located in Bozeman, MT, Jelt HQ. In fact plan on reading about this too in the next installment. 

John Lindsay is President of New Breed Furniture LLC. Reach him at john@newbreedfurniture.com 847-946-7867. www.newbreedfurniture.com

Overwhelmed Being a Jack of All Trades/Master of None? Then Try Breaking It Into Manageable Parts

9. July 2019 16:01

By: John Lindsay, New Breed Furniture LLC

Editor's Note: This is the first blog in a series by design/builder/entrepreneur John Lindsay. 

After years of being an owner/operator of a small furniture company that offers more than two hundred solid wood products developed and manufactured in house, I determined I had to understand all my roles and responsibilities to help mitigate the anxiety that comes with having to wear so many hats. I began by going back to school - in this case, self-education through reading and listening to audiobooks - in pursuit of my own Masters of Business Administration degree.

I liken the process to reading about the latest research on aerodynamics while building a flying machine while flying said flying machine, while hurling down to the unforgiving ground at breakneck speed. What I was in search of were systems, philosophies, best practices, and heuristics that could help me structure my efforts building my business. 

What I came up with was a simple to learn acronym: A.M.O.R.I. which both represents the five distinct categories or departments that all business need to have to be able to scale while having its own business philosophy built into the name. This philosophy is that to be a successful owner/operator/entrepreneur you have to resist the natural desire to favor certain parts of your business over the others and learn to LOVE every aspect of your business, which means taking an active role in mastering all the differing roles. Here’s how it works:

A    Administration
M   Marketing and Sales
O   Operations
R    Research and Development
I    Investment and Intellectual Property

This is what I plan to share with you in this series of articles about owning your own woodworking business. However, discretion demands that I be transparent about when these ideas I share are more hypothetical, and when they have been practiced and hard-earned. In short, I am far from having mastered any of these categories, and in some cases have yet to have any real experience leading teams in the trenches, but rather, I am projecting forward standards I hope to one day prove essential to my success.

I’ll get right into it with the first letter of the acronym.

A  for Administration:

A question that has long plagued me was whether furniture, cabinetry, and millwork companies ever go back and analyze what parts of their initial estimates and systems for bidding were accurate? From my experience, it is very difficult to go back over a project, sift out all the necessary numbers, separating out the different activities and costs into the same categories, all in an effort to compare apples to apples. Then once the analysis is complete, be able to identify which unit costs or algorithmic heuristics are off and change them.

Next, keep a record of the changes with descriptions of the decision processes that lead to the change, so that they can be confirmed or denied time and time again. Finally, learn over time which systems are reliable, how reliable, and why? Instead, I imagine many companies skip these crucial process’, having completed the project, needing to move onto the next. My first principle thinking mind concludes that missing these steps will keep all bad practices and estimating flaws right where you don’t want them, in the driver’s seat of your profitability. In coming articles I will break down why doing this work is so frustrating and difficult, how to set up your operations and your administrations to best capture vital information, and more importantly how to know what isn’t necessary.

 M for Marketing and Sales:

Another question that every business owner faces is how to spend marketing dollars and time? It seems to me that if you have a company who sells products made of the most beautiful material on the planet (wood) and is handled and manipulated with expert skill and craft then why not learn to apply that maker’s talent to your marketing materials? 

In coming articles, I will break down why hand made marketing combined with smart social media is the winning strategy. 

O for Operations 

A third question that I ask myself as a user of space is how to use the shop floor in concert with the available storage to get the best performances and build the best products? In coming articles I will break down why most shops have it all wrong when they let their larger machines dominate their space with permanent footprints.

R for Research and Development

My lifeblood is dependent on the quality of the designs I am offering. For my kind of business, being serious about having an ongoing design process which includes art directing, engineering, cost analysis, market research, and comp collection is essential, but not always possible. How should a smaller to medium scale artisanal manufacturer continue developing their product line’s design languages while filling orders, collecting money, packaging, and shipping, etc?

In coming articles I will break down how dedicating time to experiments and explorations in design can be balanced with the day to day deadlines and orders.

I for Investment and Intellectual Property

This is the part of the article where I let myself dream, and share ideas about how to best invest real profits back into this crazy business that I am learning to run, while running it, while hurling toward unforgiving realities. The last question in this article is can you imagine being a venture capital fund that made strategic investments in parts of your business, expecting to see real return on investment? I much enjoy ignoring my present reality, and enter a fictional world in which the business (or business’) that I have created are all wildly successful and I’m faced with the happiest problem anyone could have, where to put the piles of money that is pouring in? In coming articles, I will dream big and imagine how real estate can be both the destination and generating agent of profits.

John Lindsay is President of New Breed Furniture LLC.  Reach him at john@newbreedfurniture.com  

Questioning How Your Plant Operates Is Hard, and Why the Answer to How? Is Yes!

4. July 2019 22:42

By: Joe Baggett,  Innovative Wood Process Solutions  

The best answers come from the best questions. And from the best questions come the deepest understanding.(although sometimes we won’t like the answers to those "best questions.")

Let's take a look at how we can learn to ask the best questions. As the skills for each area of wood manufacturing (fabrication, finishing, programming, etc.) become more specialized, managers must adopt a type of strategic learning to be able to tap into and harness the specialized skills of department managers. In other words, you have to figure out how to become a temporary "expert," while asking the right questions to guide the conversation and discovery, in the context of the actual “world” of wood manufacturing.

It seems there is always a noteworthy business that is closing down (like Wood-Mode) or shifting to Mexico (like MasterBrand ) or even exiting the business (like Masco).  Somehow under new ownership or at a new location, these businesses are able to start fresh and succeed, or else they never re-open, like Cardell. 

And that is largely because the former leaders have not asked the right questions - or didn’t want to. While that may seem harsh or even irrelevant during this strong economy, it is important for organizations that endeavor to create strategic learning organizations that constantly reinvent themselves. Wille Peterson in his book Strategic Learning says “failure is seldom caused by what the environment does to us; it is caused most often by what we do to ourselves”.

According to an old friend and industry colleague (he’s wood industry leader John Huff), people will believe 25% of what they hear, 50 percent of what they see, and 100 percent of what they want to believe. John and I often joked together about how biased our own thinking processes were, and we struggled with what we could do to overcome our own preconceived ideas and beliefs.

In all these queries, l realized the outcomes on projects are more of a product of the questions we ask - even when we don’t always consciously understand that those questions actually come from our pre-conceived ideas and assumptions. Most of the things we ask or assume come from thought patterns that were based on “What to Think” behavior. These were formed from the way we see the world in which we work and live, day-to-day.

But that view of the world is a product of our own background. It is the sum of our education, exposure, belief systems, and culture. In re-engineering or starting up a plant, we have to be open to set that aside. Here’s a good example and thought exercise on that concept:

I’m a big fan of the Peter Sellers Pink Panther movies. In a scene from “The Return of the Pink Panther.”  Sellers was checking into a hotel and saw a dog sitting next to the front desk manager. He asked, “Does your dog bite?”

The manager looked up and said, “No.” Sellers reached down to pet the animal, which promptly bit his hand, pulling off his glove. Shocked, Sellers immediately retracted his hand and exclaimed, “I thought you said your dog did not bite!” The hotel manager looked up and said, “That is not my dog.” Context is everything for asking the right questions.

In my last blog, I mentioned most wood manufacturing companies have a “dungeon” – the place where equipment that is not in use or is obsolete, is stored. I asked if we had to write a report about the equipment not in use or obsolete, what story would it tell? In general, I believe it would tell about how there was a failure to derive increasing simplicity from increasing complexity.

The wood industry has become increasingly specialized and more complex while making some traditional methods seem “easier.” This increased specialization has caused some wood products manufacturers to keep it simple, while not taking full advantage of possible improvements and game-changing technology.

The average woodshop may not want to acquire the maintenance, operator or leadership talent to adopt and utilize the technology. Some manufacturers risk acquiring the technology, but don’t have the organization or strategy to apply it in a successful manner, and end up discarding it for simpler methods and machines. Some are investing in the organizational talent, culture, strategy and learning to apply as much cutting-edge technology as possible,but are is still years removed from what could be and should be the current state.

I recently visited a cabinet shop and was required to sign an non-disclosure agreement because they had switched to a new wood coating. While we observed the operation, we couldn’t help but notice the coating was a modern but typical post-catalyzed conversion varnish. This type of wood coating has been around for well over 30 years. It was new to them (their world) but in the actual world of available wood coatings, this is an older technology (in the actual world of woodworking). 

The increased specialization in the woodworking industry has created these two worlds. This is a good thing because we need to be constantly developing cutting edge technology but, to successfully apply it, we also need to put it into perspective and context. Strategic learning is the key to harnessing this specialization for its value and asking the right questions in the context closer to the actual “world” of wood manufacturing.

It starts by re-envisioning the way we ask our questions. Peter Block does great work in his book, The Answer to How Is Yes, in re-envisioning the way we ask questions. As Block puts it: 

There is depth in the question “How do I do this” that is worth exploring. The question is a defense against the action. It is a leap past the question of purpose, past the questions of intentions, and the drama of responsibility. The question ”How?”- more than any other question - looks for the answer outside of us. It is an indirect expression of our doubts.

Block gives us six typical questions that shape manufacturing operations, equipment and products more than any others and the way we could ask them differently that would have a profound impact.

  1. How do you do it? This the greatest assumption. The biggest question is what is worth doing and what matters the most not how it is done.
  2. How long will it take? The question how long drives us to oversimplify the world.
  3. How much does it cost? The most common rationalization for doing the things we do not believe in that what we really desire either takes too long or costs too much.
  4. How do you get these people to change? What would empower and create the environment for the needed organizational transformation? Also, what does it mean for me? 
  5. How do we measure it? Many of the things that matter most defy measurement. Our obsession with measurement is really an expression of our doubt. What measurement would have the most meaning to me and our organization?
  6. How have other people done it successfully? The value of another’s experience is to give us hope not to tell us how or whether to proceed.

If you look at the rhetoric in the woodworking industry you can see how the questions of “How?” proliferates in our thinking.  We constantly see "How To" advice in much of what we read, hear at conferences, attend and listen to in the woodworking Industry.  How to set up a profitable finishing operation, how to select the right software, how to select the right machines. 

If our default for developing great questions remains heavily on the “How” we will continue to be susceptible to the missteps resulting from the increasing specialization, and from other opportunities and threats. The best strategic solutions often require learning and knowledge we have yet to experience. The solutions take longer than what we want, cost more than what we want, require more or better people than we have. And they deliver results that we don’t currently measure.

I love the woodworking industry and want to see it rise to new heights, both on the national scale of manufacturers as well as the global scale. I want to see the small and medium-size shops realize their dreams and be recognized. I want to see the large manufacturers invest in technology and become even more strategic leaders in the global woodworking industry.

I truly believe that the most important contribution a leader can make is to make more leaders. It is my purpose in these writings to inspire and provoke new thoughts and passion, and evoke thoughtful but decisive action. I keep coming back to a need for us as leaders in the woodworking industry to revise some common thinking processes, an area we will continue to explore. 

Joe Baggett is President of Innovative Wood Process  Solutions. Reach him at iwpsolutions19@gmail.com,    817-682-3631. www.iwps.biz

Before You Make Any Technology Investments, Let’s Visit the Dungeon

28. June 2019 11:45

By: Joe Baggett,  Innovative Wood Process Solutions              

Editor's Note: This is the first blog in a series by engineering consultant Joe Baggett

After years of leading engineering and technical service operations at major cabinetry and wood products firms, I determined that I would like to take what I had learned and use it as the basis for starting an engineering and consulting firm. So I began by thinking back on my career so far. In setting up this consultancy, I wanted to do something – and create something - new and different. 

On the equipment side, I did a quick survey of the machinery, infrastructure, and information technology for which I had been responsible. It shocked me when I realized that I had specified, acquired, installed and commissioned over 100 million dollars worth of equipment.

Then I asked myself what I had learned from all this. That’s what I plan to share with you in this series of articles about plant operations.

A question that has long plagued me was why the average shop or factory floor doesn’t look more like the show floor from IWF, AWFS or Ligna? I used to think it was for lack of funds or financing. So I asked myself if each wood manufacturer that attended these shows had a blank check, with no obligation funding to buy machines each year, would it really make a big difference in our industry’s operations overall?

The more I thought about it, the more I concluded, it would not. Yes, more machines may be bought and installed; but would it result in the average woodshop/factory being more profitable, stronger organizations, etc.? I would have to say no. Let’s explore why.

First, just ask and answer some blue-sky hypothetical

  • If the organization you are currently leading had 10 million in obligation free capital to invest in equipment, could you increase profitability by 5 to 10%, or more?
  • Would such investment strengthen your organization?
  • Would it bring health to the culture of the organization?
  • Would it fit with a holistic company-wide strategy?

I’ll go deeper into what’s behind my opinion on why investment is not the magic bullet in later articles. But suffice it to say for now, that after giving it a lot of thought, I determined that the most valuable contribution I could make to the woodworking industry through a consulting engineering practice wouldn’t be merely offering technical expertise, but to address, instead, the strategy – in regards to strategic thinking or what I call “holistic organizational thinking” - in which to apply it.

In re-engineering or green-fielding a plant, asking the right questions and in the right context is everything - especially as increased specialization and the creation of worlds within the industry such as Finishing, Bar Code Scanning, Shop Floor Control Software, etc. , come into play.

Let’s return to our questions about that hypothetical ten million dollar investment. One thing I noticed is that most wood manufacturing companies have a “dungeon” – the place where equipment that is not in use, or is obsolete, is stored. Sometimes that equipment isn’t very old, and not infrequently, there is a lot of it. Also sometimes it hadn’t been in service long enough to pay itself off. (Just think about what that $10 million in potential investment could buy.)

During this same time, I was beginning to take note of this phenomenon: the downturn in the economy was beginning. At first, I thought this accounted for the growing inventory of machines in those dungeons.

But there was another force at play. So let me ask another non-rhetorical question: What’s in your dungeon? If we had to write a report about the equipment not in use or obsolete what story would it tell? The story usually has less to do with the equipment itself and more to do with the organization, strategy, permitting and the market life of the product it was purchased to produce. If we did a postmortem on the equipment in the dungeon what story would it tell us?

Now, this where I would suggest that the obligation free investment in equipment wouldn’t have that big of an impact on the average woodworking organization if it was available. I would suggest that it would proportionately grow our dungeons.

I can’t tell you how many times we have resurrected a piece of equipment from the dungeon but in the context of making it work for the current application and needs. Always with the “it doesn’t work” as the starting place. This reaction is the anecdotal verbalization of this phenomena from “what to think” instead of “how to think.” The downturn in the economy only exacerbated the underlying problem. Holistic Strategy is the key to changing how we approach equipment acquisition and application.

Will Peterson says it best in his book, Strategic Learning:

“As strategic leaders, we have to derive increasing simplicity from increasing complexity. Information is universally accessible and becoming free to all. The internet offers it to us on a plate. No longer does the world belong to the ones with the most information, but to those with the highest ability to make sense of it; no longer to those who know more but to those who understand it better.”

Next time we’ll look at the idea of “asking the right questions," and why that is so hard to do.

 Joe Baggett is President of Innovative Wood Process   Solutions. Reach him at iwpsolutions19@gmail.com,    817-682-3631. www.iwps.biz