Recently, in Dallas, I had the honor to address a room full of college fashion and design students. My job was to introduce them to the elements of our supply chain. In the course of that talk, I referenced the following article which merits rebroadcast.
You know, we all know, that the great companies aren’t great by accident. Luck is not a business model. They’re great because they are allowed to be, because they want to be, because that is what they had in mind right from the start.
The three rules listed in the article are deceptively simple. They break down as follows:
1. Better before cheaper—in other words, compete on differentiators other than price.
2. Revenue before cost—that is, prioritize increasing revenue over reducing costs.
3. There are no other rules—so change anything you must to follow Rules 1 and 2.
These are however, truly wise words, and the reason that clicking thru to read the rest of the piece, even if it is from ‘way back’ in 2013, well worth a few minutes of your time. Read More