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1% rule

1% rule

This is such a small and almost an insignificant number. In fact, if we still had pennies in circulations and you saw one on the ground, you might not even bend over (assuming you can) and pick it up. After all, a penny is only 1% of a dollar and not worth your time.

This is where you are wrong. Most people, on average, work 48 weeks out of the year and 5 days per week. I am discounting vacations and holidays. The number of working days is 240.

Now use 1% of your time to begin and talk and work with your existing suppliers or maybe find a new ones. Take the two days to find out what you don’t know or try and make things more efficient. No fighting fires or attending meetings during those two days.

For argument sake, lets say that your organization spends roughly $5m per year. If you were able to work with a few of your suppliers and only gain a 1% improvement then you would effectively save $50k.

In other words, you are well on your way to paying for your wages which in effect means that there is no cost for your company to engage your skills.

There are a lot of people who look for the large gains and they don’t bother with 1%. I have always believed that big is great but 1% of a sure thing is a lot better.

#kineticgpo #qcsolver