A Video Case Study: Drive Time-to-Market with First Principles Thinking
We’ve applied the “Chief Mindset”/First Principles thinking to asset management. The video linked here — Digital Transformation: Asset Management 5.0 — goes into great depth about how we partnered with one customer to accelerate their results. Listen as our customer explains the successes he achieved at 27:48 of the video.
- 50% reduction in costs
- 400% increase to utilization
- 35% reduction in time-to-market
- Higher levels of employee satisfaction and success
We think if you watch him talk about the results you’ll want to watch the rest of the video to see how we did it. The thinking included in the video goes into detail about the use of first principles from economics and other disciplines that help business designers analyze what is thwarting speed and cost competitiveness. These same principles also lead to the design of new and often counter-intuitive approaches that produce significant competitive advantages….as they have for Elon Musk.
The “Chief” Mindset Enables Time-to-Market
Elon Musk hires engineers who think like chiefs. They have to have built things using their hands and be naturally curious. From the video Elon Musk: The Scientist Behind the CEO,
“Just because an engineer has deep expertise in their specialized area of the rocket or car, they won’t be able to tell if the work that they are doing, the ideas and the improvements they come up with, are for the good of the system as a whole unless they know how the whole system works. Mistakes and design flaws happen when people don’t understand the systems working in the whole machine.”
It is no longer possible for a few managers “at the top” to direct action to reduce time-to-market enough to win. They simply can not keep up with how rapidly situations change and then make the wave of new requests required on an hour-by-hour and minute-by-minute basis. When the people that work for them don’t know how their business operates they will either do nothing and wait for a request or they will make costly mistakes, Neither option is good!
Acting in a “chief” mindset people know how the business operates, the results it is committed to, and how those results are produced. Teams of “chiefs” are resilient, fast, and low cost. When people work inside a system or organization they don’t understand, they will make costly mistakes. This is why team members must develop a “chief” mindset.
Sente uses the “Chief” Mindset to Help Companies…
- Increase time-to-market by 25% to 35%
- Reduce Capital Investments by 50% and
- Grow revenue by 2X
Our asset management solutions have been designed with in-depth knowledge of how businesses operate and the key competitive advantages they must produce. They free up their time to work on what is most important for their company and their individual careers. It is these results that helped Sente win our various industry awards for software and services.
Chiefs Require “First Principle” Knowledge to Drive Time-to-Market
Examples of First Principles Use
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See how Scireo aEAM Software drops asset and support costs by 50% while accelerating time-to-market 2X.
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“What I like about Sente’s approach is how it has turned my engineers into businesspeople. They think it terms of investments and returns now.”
VP of Engineering