Friction
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Friction”?
“The world is wide, and I will not waste my life in friction when it could be turned into momentum.” — Frances E. Willard, educator and suffragist who spearheaded the campaign to adopt the Eighteenth and Nineteenth Amendments to the U.S. Constitution
Key Points:
- Friction is any process that removes energy from a system over time.
- It’s necessary to continue to add energy to a system when there’s Friction to keep it moving at the same rate.
- Introducing Friction can sometimes make people behave in a certain way, like having to present a receipt when making a return, which can lower your return rate. But doing this too much can lower your Reputation.
- Remove Friction from your business to increase quality and efficiency.
Questions for Consideration:
- Where can you identify wasted time, resources, and energy?
- How can you eliminate this unnecessary friction?
- Do you have regularly scheduled time to review your business’ current systems and processes in an attempt to identify and eliminate friction?
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