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💡 Weekly Thought Exercise: How to Remove the Bottlenecks of Your Business

A thought exercise that walks you through the 5-Step Theory of Constraints

Author

Eva Gutierrez
August 29, 2024 • Estimated Reading Time: 3 minutes

This week's thought exercise comes from Leila Hormozi...and the manufacturing industry.

Some quick background on Leila:

  • Leila Hormozi had a $100M net worth by the time she turned 30 

  • She's built and sold 3 businesses and now runs a portfolio company with a goal of $1B+

  • She has one of the most practical and logical approaches to life and business (I highly respect how she thinks)

Some quick background on the manufacturing industry:

  • Constraints cost hundreds to millions of dollars

  • Imagine having to hold on to a 20-foot carbon fiber piece of a boat because you can't bring it to the next location yet

  • How much money are you spending on housing, labor, keeping that piece intact, etc.? 

The reason we're melding Leila and the manufacturing industry together for this week's thought exercise is that we can learn so much from other industries. 

Their frameworks and approaches to problem-solving can get copy-and-pasted over to our digitally-led businesses.

And in the case of manufacturing...we're getting a framework that helps companies save upwards of millions of dollars.

That certainly sounds like something that would be helpful for us. 🙂

Here's how Leila views constraints:

"And, a large part of building a great business is resource allocation.

Aka, getting the best returns for your time, money, and effort. (The best CEOs and business owners all have this one thing in common.)

And so, how do you allocate resources to get the best returns?

You solve the right problem, the right way.

A lot of businesses never grow because they are working on the wrong stuff.

And that’s why we reference the theory of constraints a lot."

Leila Hormozi

The Theory of Constraints was developed by Dr. Eliyahu M. Goldratt, an Israeli physicist turned management expert (ahem, another cross-industry collaboration):

This week, you're going to use the Theory of Constraints to:

  • Figure out where the bottlenecks of your business are

  • Ideate with AI to figure out how to relieve these bottlenecks

  • Create necessary plans, schedules, data spreadsheets, etc. to track progressLet me know how you like the prompt in the poll below

Here's the prompt to copy and paste into Claude.ai:

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