Know Where You’re Going

The Weekly Report – December 13, 2021
Manufacturers use strategic planning to better absorb the challenges they face.

This year’s State of Manufacturing® survey vividly revealed that the chronic worker shortage and the costs and availability of materials are top of mind challenges for virtually every manufacturer in Minnesota. We’re also learning that many are fighting those challenges by doubling down on their commitment to operating from a strategic plan.

It’s one reason that more than 50 manufacturing executives have already registered to attend our online manufacturing workshop, Enhancing Your Strategic Planning and Implementation, from 9:30 to 10:45 a.m. tomorrow, December 14. (Learn more)

Presenter Steve Haarstad is one of Enterprise Minnesota’s top consultants for helping small and medium-size manufacturing companies develop and implement effective strategic plans. His reputation for keen insights presented in logical relevant ways is one reason his events tend to draw a crowd. Steve sums up his presentation by saying strategy consists of “knowing your end game” and “developing a road map to get you there.”

Manufacturers who attend his workshop—there is still time to register—will learn key values that will help companies achieve the efficiencies that come with strategic thinking. These will include:

  • Knowing their goals (endgame), which can be either personal or professional. He suggests gathering a management team to find consensus around things like purpose: What do we do? Why does this matter? How are we unique? Or values: What do we believe in? How do we describe our culture? What are the character qualities of key performers? What is the value of developing specific and achievable time-related goals.
  • The importance of “rhythm,” operating companies through consistent, deliberate actions that are aligned with achieving your goals.
  • Achieving clarity through simplicity. “Success comes not from knowledge,” he says, “but from the wisdom of applying and simplifying knowledge. We don’t really know something until we can express it simply.”

Haarstad has extensive experience helping companies develop strategies to improve their leadership and grow their profitability. He also recently completed his Certified Exit Planning Advisor certification at the Exit Planning Institute. With his background, he knows how other companies have developed effective strategic plans.

Another key takeaway from Haarstad is his emphasis that change doesn’t have to be disruptive. You can be prepared and lessen the negative impact with a strategic plan. Why leave your future or your business growth to chance?

Without strategic planning, a business is just as likely to go in the wrong direction. Does a strategic plan guarantee future success? No, but it could be the difference between your company staying on track.

This workshop will give you direction.

To learn more and register, visit our website – click here.

Events Calendar

December 14 – Enhancing Your Strategic Planning and Implementation
Strategy and Revenue Growth expert Steve Haarstad will demonstrate ways to approach strategic planning for the short and long term and why strategic planning shouldn’t be solely for the CEO. Online via Zoom  Learn more and register

January 6 – Developing Your Leaders From Within
Join us IN PERSON in Dassel, MN for a manufacturing workshop with expert Michele Neale on ways to develop your future organizational leaders, including how to define the competencies you need and making a plan for success. At the Dassel History Center.  Learn more and register

January 12 – Profiting from Revenue Growth
Expert Steve Haarstad will address ways to generate business growth by growing your bottom line. Learn growth planning fundamentals and how to create a Seven-Step Growth Action Plan. Online via Zoom  Learn more and register

February 9 – A Model for Manufacturing Excellence Using ISO 9001
ISO Certification and audit expert Keith Gadacz will be discussing the concepts of the business management system ISO 9001:2015 and how it can take your operation from average to excellent. Online via Zoom  Learn more and register

See more upcoming events

Industry News

Cohasset manufacturing facility receives DEED funding
Huber Engineered Woods, a leader in specialty engineered woods and high-performing building solutions, received grant funding from MN DEED, IRRRB, and others to build a new 800,000 sq. ft. facility that is expected to create 123 qualifying jobs. December 10, Hometown Focus  Read more

Hormel is closing one Willmar turkey plant to consolidate Jennie-O business
The Minnesota food maker saw sales soar last quarter, but higher costs dampen profit gains. Workers at closing plant will transition to newer and larger facility, also in Willmar. December 9, Star Tribune  Read more

Chip subsidies will support U.S. semiconductor design and production
The CHIPS Act, a $52 billion bill passed by the U.S. Senate in June, is aimed at reversing a longstanding trend in which most semiconductor chip production is performed in parts of Asia. December 9,  Read more

7 things manufacturers can do to mitigate supply chain challenges
While manufacturing and logistics industries adapt for the long term, here are seven best practices to prepare for the future and stay focused on customers. December 11,  Read more

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