How Companies Die | Lean Built - Manufacturing Freedom E51

In this week's episode, Andrew and Jay delve into:Choosing the Right Machinery: How do you decide on the best equipment for your needs, not other people's?Strategic Purchasing for Tax Benefits: Is NOW always the right time to buy equipment to leverage tax advantages?The Owner's Mindset: Exploring how an owner's mindset can be the largest barrier to business growth.Self-Limitation for Success: Identifying areas where business owners should set boundaries for themselves to ensure the company's prosperity.Running a sale: when and how is it actually advantageous to run a sale?Book discussed: Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan and Dr. Benjamin Hardy.

Join Jay and Andrew as they explore:The Aesthetics of Efficiency: Does a clean environment make for a more productive shop? Or is a bit of mess the price of lean?Fresh Perspectives: The importance of bringing new eyes to old processes for innovation and improvement.Actually Testing Things: Why testing ideas and methods is crucial for true productivity, and how assumptions can lead us astray.Plus ... Jay and Andrew disagree on something! Sort of. For a minute. Maybe.

It's a jam-packed episode of Lean Built as Jay and Andrew kick things off with a head-to-head: spindles versus pallet pools. Which one packs the bigger profit punch? From there, they steer back into the world of IMTS, and especially how bringing your team and employing them strategically can yield big results. But that's not all. They tackle machine aesthetics—does beauty equal beast in manufacturing? They also dissect the double-edged sword of automation, and the art of slashing unnecessary steps to streamline your operations like a pro. All that and plenty more. Thanks as always for joining us on our Lean Built journey.

Andrew and Jay come back from IMTS with plenty on their minds. They talk about salespeople who want to solve your problems vs. ones who just want to make a sale, the pros and cons of using products from new companies, getting up and close with machines, knowing what problem a particular machine you're considering actually solves, ending choice paralysis, and more.

Jay and Andrew check in from IMTS.

As Jay and Andrew prepare to go to IMTS 2024, they talk trade show tricks and tips. How do you approach events like this? How do you make the most of them for your company and your own personal growth? When should you take pictures? How should you treat competitors? Is it better to be honest with a salesperson if you're not interested in buying something? They talk everything from comfortable footwear to staying hydrated to seeing friends to how to schedule your time for maximum benefit.

Andrew and Jay discuss several key principles this week that can help your business grow, including:The Bullet Tells the Truth: It doesn't matter how well something works in theory; it must work in practice.Avoid Delusional Leadership: Understand the real workings and needs of your company.AI as Homework: Using AI can be beneficial if you use it wisely, much like looking at someone else's homework.Customer Alignment: Recognize that your business goals won't align with every customer, and that's sometimes okay.Exploring Other Shops: Visiting other businesses can provide valuable insights into different operational methods.Keep Vendors Close: There are advantages to having your vendors geographically near your business.And there's much more. Hey, if you spot us at IMTS 2024, please come over and say hello!

Andrew and Jay continue their discussion of what kind of 5-axis machine should Andrew buy and how to think ahead in making big decisions. Then they shift gears into the art of crafting a mission statement that doesn't just gather dust on a plaque. What makes a mission statement not just good, but galvanizing? What is a good mission statement is even meant to accomplish?  Finally, they discuss the "dark side" of lean methodology, when it begins to consume your life outside the shop.

Join Jay and Andrew as they dive deep into the challenges of using Fusion, the nuances of fair use in copyright law, and the art of dressing to impress in the business world (it's actually a thing!). We're picking up where we left off from our future discussion on Andrew's journey in scaling up his business and investing in new equipment. As we do, we'll explore why sometimes staying in your lane can be the most strategic move for growth.

Andrew is at a crossroads, weighing the decision to expand or relocate his shop, along with the potential purchase of a 5-axis machine. In this episode, Jay helps Andrew navigate the complexities of these big decisions. They delve into how a firm "no" on one major issue brought Andrew much-needed clarity. They explore the emotional investment required when thinking about the future. They talk a lot about what kind of machine Andrew should actually buy. And more. There's plenty to learn as they discuss the challenges and rewards of making big decisions in business.Here’s the link for cornhole tournament Jay mentions near the end of the episode!