Manufacturing Madness: When to Speed It Up and When to Slow it Down

I love March Madness! Sitting on the edge of my Selection Sunday seat waiting to find out where my alma mater, Marquette Golden Eagles, will fall on the final bracket (a projected 2 seed as I write this). Listening to the pundits argue about the often-obscure last team in and the first team out (where in the world are Colgate and Merrimack located again?). Glued to the screen for the Thursday and Friday of the first round. Obsessively checking the ESPN TC app on my phone for an up-to-the-second accounting of where my bracket picks stand. I’m getting excited already.

Picture this. You’re watching the game with a group of friends. Maybe you’re lucky enough to be in the stands. Team A misses a shot from the paint, the center for the opposing Team B snags the rebound and quickly hurls the ball to the point guard who, accompanied by another guard and a forward, begin driving the ball the other way. Team A scrambling to get back on defense. Team B in disarray as they try to make sense out of their offense. Fans of both groaning, yelling and screaming. Three on two as the ball and the offensive fastbreak trio charge over mid-court.

Offense and defense in chaos. Total pandemonium. Invariably, someone in the crowd starts to yell to the offense, “Slow it down, slow it down!”.

Good advice? Rarely.

When a situation is in total chaos, total pandemonium, that might be the perfect time to speed it up, not slow it down. The offense may be in total chaos, but so, too, is the defense. What better time to drive the lane and finish the play than when the opposing team is in a state of total confusion?

The point in time when the rest of the world is telling us to slow it down may be the perfect time to speed it up, and decades of finishing experience have proven to me that knowing when to speed it up and when to slow it down can make the difference between world-class leadership and average management.

When To Speed It Up

Addressing employee safety or environmental concerns — for obvious reasons. Sending our team members home safe to their families comes first. Respecting our environment and related regulations comes second. Everything else comes after.

When a customer requests a quote — in contract finishing, often the first quote the prospect receives gets specified for the project. Beat the competition to the customer’s file, win the job and show the prospect you mean business and move fast.

Upon receiving a referral from another customer — acting immediately on customer referrals honors the referral source and shows the new prospect yours is the kind of company they want to partner with.

When a customer has an “emergency” — some finishers whine and complain when customers expedite orders. This never made sense to me. Treat a customer’s emergency like it’s your emergency and they’ll know how much you care and will think twice before sourcing a new supplier.

Any customer complaint or quality issue — The longer these sit, the more they fester in the mind of the customer. Address them swiftly and completely, learn from them and put them behind you as quickly as possible.

Low-hanging fruit — acting quickly on no-brainer process or efficiency improvement suggestions, especially those from the floor, render immediate results and send the message to the team that their input is valued, expected and respected.

Executive leadership and Board requests — sit on a request from the C-suite or the Board and they’ll wonder if you’re doing the same with requests from employees, customers and other stakeholders.

When a competitor struggles with quality or service and their customer reaches out to you — there’s no better time to shine and win new business. This is your fastbreak moment. The opposition is in full-pandemonium. Take it to them!

However, full-throttle may not always be the best strategy.

When To Slow It Down

When you feel yourself reacting emotionally — whether it’s an email that sends you over the edge or your blood boils at something someone says in a meeting, being patient in response is the best policy. To paraphrase billionaire investment legend Charlie Munger, you can always tell someone to go to hell tomorrow if it’s such a good idea.

Buying or selling a company — a mentor once told me, “You have to be a disciplined buyer”. I never forgot it.

Building consensus among the team — the leader who devises a strategy or solution without input from the team may quickly find themselves on a team of one.

Responding to an employee’s complaint or concern — often we rush to judgement or problem-solving mode when asking the right questions and listening intently can lead them to their own solution

Managing cash and taking on debt — when company capital is tight and market capital is loose, borrowing money on a credit card or line of credit can be the easy button but can also mask an underlying cash flow or financial performance issue. Make sure you’re borrowing to augment growth and not to cover up problems.

Negotiating a contract — sleep on the details for a night or two before putting your signature on the final agreement, it’s amazing what occurs to you that you should have considered sooner once you let your subconscious catch up a bit.

Adding capacity — always look to improving efficiency and yield before spending capital to increase production capacity.

Any ethical dilemma — In the words of Dumbledore, “Soon we must all choose between what is right and what is easy.” Take your time and choose what’s right.

Slow it down or speed it up? Knowing which to do when can mean the difference between advancing or going home. In college basketball and in finishing.