What You Need to Know: Virtual SMART Manufacturing Conference September 30 and October 1, 2020…
Manufacturing CEOs are deeply involved with their companies at every level of business. Depending on the company’s size, they may manage relationships with customers, oversee product and process and keep track of finances, all while forging a trajectory for the company’s future in the industry. As a result, these CEOs face unique challenges that require unique and often innovative solutions.
Define Your Priorities | Find Ways to Manage Time More Efficiently | Remain Open to New Technologies | Involve Everyone in Decision-Making Processes | Seek Support From a Third Party | Work With MANTEC to Improve Your Manufacturing Business
The most successful business leaders tend to share similar ideas about what it takes to be a successful CEO in the manufacturing industry — improving your business and yourself requires commitment and perseverance, as well as some guidance along the way. Here are five top business tips you can implement to find success in manufacturing.
If you hope to accomplish anything significant as a CEO, you need to know exactly what it is you’re aiming for, which means defining the priorities you have for your company and your career.
Because manufacturing CEOs are so involved with the day-to-day operations of their businesses, it can be easy for them to lose sight of the big picture. When that happens, they end up addressing problems as they arise without regard to strategy. Take some time to think about the goals you have for your business, and before taking on new work or making changes to an existing process, ask yourself, “Is this what I want to be prioritizing right now?”
By understanding your goals, you can ensure that everything you do is contributing to them in a meaningful way.
Manufacturing CEOs have a lot of different responsibilities. Even after you define your priorities and cut out work that fails to contribute to your mission, you may still feel that there isn’t enough time in the day to get everything done. This feeling can lead to high stress and detract from your personal life.
To get more work done while maintaining a healthy work-life balance, successful business leaders look for ways to manage their time more efficiently. Here are a few essential tips for better time management:
- Focus on one thing at a time: Multitasking draws a portion of your attention away from each task. Give important tasks your complete attention in order to finish them faster and produce higher quality work.
- Delegate work to other members of your team: Many problems that end up on your desk don’t actually need your specific attention. Pass some responsibilities on to other qualified members of your staff. If no one else is qualified to handle a certain job, hire someone new or train an employee you trust.
- Use technology to your advantage: Many digital tools are available to help with time management. Experiment with these tools and find a process that works for you. If you can automate a non-critical part of your job, consider doing so.
Manufacturing technology is constantly evolving, and quickly. One common piece of advice given to manufacturing CEOs is to implement new technologies.
While not every piece of tech will benefit your manufacturing process, certain innovations could help you address specific productivity problems and improve your company’s ability to grow. MANTEC can help you find and implement manufacturing technology solutions to further your organizational goals.
As a CEO, you know a lot about your business’ operations. However, when you’re making business decisions, you shouldn’t overlook the expertise of your workers. Successful manufacturing CEOs take steps to create workplace democracy and consult the people working on the factory floor before making decisions that could impact process.
Involving all workers in business decision-making will boost employee satisfaction and allow you to avoid productivity losses that occur when management and manufacturing floor staff are working out of sync.
When you find yourself stuck on a persistent process problem or flaw in your business model, consider reaching out to a third party for support. Other manufacturing professionals can offer advice and insight, often bringing unique perspectives and solutions to the table.
Whether you run a small startup or a large manufacturing firm, there’s much to be gained through collaboration.
Manufacturing CEOs are constantly searching for new ways to drive business success. If you’re looking for a company to help you improve process, technology, sales, compliance or another aspect of your business, contact the industry experts at MANTEC. As a nonprofit consulting firm, we have the ability to offer manufacturing companies in South Central Pennsylvania high returns on investment and ongoing support.