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Develop a lean business model to reduce waste from "summary" of The Toilet Paper Entrepreneur by Mike Michalowicz
Creating a streamlined business structure is all about trimming the fat and honing in on what truly matters. The secret lies in identifying the core activities that drive value while discarding the unnecessary fluff. Start by examining every aspect of your operation to pinpoint waste—resources that offer little to no return on investment, time spent on non-essential tasks, or processes that can be simplified. Embrace a mindset of continuous improvement. Regularly ask yourself, “What can be eliminated, simplified, or automated?” This isn’t just about cutting costs; it’s about enhancing efficiency and maximizing output. You want to focus on the activities that contribute directly to your bottom line and add real value to your customers. Consider the concept of the Minimum Viable Product (MVP). It’s about launching a product or service that meets the essential needs of your customers without the bells and whistl...
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