Improvement Insights Blog

Every $10 Million Company has at Least One Million Dollar Problem. How many million dollar problems could your company have?

Download my free ebook, Agile Process Innovation – Hacking Lean Six Sigma for Results.

“Hi, I’m Jay Arthur, author of “Lean Six Sigma For Hospitals” and QI Macros [software].

“I subscribe to a number of newsletters, and there’s one guy who produces one about consulting. He said, “Every $10 million company has at least one million dollar problem.” $10 million… $1 million problem.

“Now, how big is your company? 10 million? A hundred million? A billion dollars? How big is it? That means that there’s lots of million-dollar projects, probably, in your company. Fortune 500 companies have millions, if not billions of savings available to them by using these tools of Quality Improvement.

“You are the people who can go out and figure out what those problems are, where they live… and they don’t live everywhere. They are in very small slivers of the organization. You know the 4-50 Rule: 4% of what you’re doing is producing over half the mistakes, errors, waste, rework, lost profit. Use data to go find those and fix them.

“That’s my Improvement Insight for this week. Let’s go out and improve something. Let’s save millions, billions, and even trillions of dollars worldwide. It’s a lot of fun, but we have to get on it.”