Entrepreneurs Take Time to Do, Plan, Check, Act
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Byron: Hi, my name's Byron Hebert and this is another quick tool time update brought to you by PKF Texas' Entrepreneur Playbook. What I want to talk to you about today is a philosophy in your business called Plan, Do, Check, Act.
If we look at how most companies perform over time we see that a lot of them continue on this growth path, but unfortunately sometimes we see a number of companies will start to fall off. And why is that? You wonder why some companies continue to improve and why some don't. In my mind it's Plan, Do, Check, Act.
This is a philosophy in your business that when you come into an issue, or when you're thinking about your business – if you'll plan the improvement of the issue, do it, check it, and act upon it; then the idea is you can never fail. You may have set backs, but you'll never fail.
So what do you do? There's a number of Mindshop tools you can use to plan what you're gonna – what your next step is. What improvement initiatives you want to operate in your company. What waste you want to get out of your company, a number of ways you can – you can improve. You implement that. You check it. Use – you keep performance indicators. Find ways to measure your performance and see the improvement. And then act upon it.
If, by chance it works, like it's supposed to – then we put a wedge in there called standard operating procedures and we train on that and we continue. If it doesn't work, go back to the planning phase and start over. The idea here is that with this process, with this mindset, you can never fail, you may have set backs, but you'll never fail. Plan, Do, Check, Act.
Again my name's Byron Hebert. This is another quick tool time update brought to you by PKF Texas' Entrepreneur Playbook. If you'd like to learn more about the Mindshop tools and how they can help you and your business, please call PKF Texas.