Growth from Your Installed Base of Legacy Products

Growth from Your Installed Base of Legacy Products

If you make tangible products and have been in business for more than seven or eight years, you have legacy products in your installed base. That is fine because industrial OEMs expect after-sales service to generate eight to 10 times the original sales revenue during...
OEMs Need a SWAT Team to Keep Improving

OEMs Need a SWAT Team to Keep Improving

Do you feel calm and relaxed when you walk out to your car in the evening? When you get home, are you ready to deal with the typical family and household issues, or do you want to be left alone in a quiet corner? It is usually the latter if you have a bad day in the...
A Superb Read to Help You Move Your Business Ahead

A Superb Read to Help You Move Your Business Ahead

If you want to improve quality, cut costs, and get better outcomes, then you should read the book I just read about how to improve patient outcomes, cut medical expenses, and prevent many deaths in the surgery suite and the ICU. The book which changed my outlook on...
Service Revenue as a Percent of Total Sales (2022)

Service Revenue as a Percent of Total Sales (2022)

As a consultant, I talk with a lot of people. At some point, the conversations go like this: Prospect: How large can I grow my service business? Me: First, let’s get the question straight. You are asking me how much service revenue I can make as a percentage of total...
Managing in a Time of High Inflation

Managing in a Time of High Inflation

Over 50 years ago, GE hired young Professor Ram Charan and a small team of other experts to create and deliver a training course for GE managers. The topic was difficult to talk about, but it was necessary. The subject was running a gainful, growing business during...