Seven Aspects of Industry

Every business, charity–and, indeed, household–runs on the same seven aspects. To work a successful service, you have to take each aspect into account. Every assignment you do should strengthen how your service operates.

1. Finance
2. Extraction
3. Service
4. Assembly
5. Distribution
6. Storage
7. Evaluation

Every product or service you offer begins and ends with these aspects. Usually, a successfully run business specializes in one or two of these aspects and leaves the others up to their backward and forward linkages.

For example, a steel company need only assemble a team to make steel. They depend on someone to extract the iron and someone else to transport the iron: those are their backward linkages. They depend on someone else to buy the steel from them and someone else to transport the steel to that client: those are their forward linkages. Because iron is cheaper to transport than steel, a steel company will position itself closer to the car factory buying the steel than to the iron mine selling the iron. This is why Detroit and Cleveland are all relatively close to each other on a straight railway line, while the iron may come from many more miles away in the Appalachian Mountains.

Likewise, you can apply this same logic to your service to shave unneeded costs and make your service as marketable as possible.

Attitudes of Organizers and Planners

Priorities on Productivity and Ownership

Evaluation

Storage

Assembly

Service

Finance

Distribution

Extraction

You can design a lucrative system by critically shaping how your service performs two aspects well: your Industrial Advantage and your Meaningful Work.

Industrial Advantage: how your service is stronger and more distinctive than competitors; a niche, a speciality, a selling point

Meaningful Work: what you bring to your service that makes it worth the cost; your passion, expertise

Put an extra 150% into these two aspects and you’ll see a difference in how you work: less time spent, more money earned and more impact in the community.

We’ll get into the other five aspects in the next Milestone.

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