Concept of Friction is a phenomenon most of us have read during our schooling. Whenever two objects contact, there is friction. What happens when there is friction, there is resistance, there is heat generated and there is energy loss. Basically the overall output gets reduced by some % depending on the nature of friction etc.
To overcome the factor of friction, and make travel faster, less energy consuming, we saw trains with Super conductor technology launched. As per theory , the wheels wouldn’t touch the rails (in fact there would be no wheels at all). The train would levitate and move forward. Am not tracking on the most recent advancements in this field, but the results were astonishing, in terms of the speeds these vehicles could achieve. I am sure if we go a bit deeper into the energy saved etc, we could find more details. Thats not the point of this article. Friction happens all the time, in all places, example, say water flowing through pipelines, car moving etc etc.
Now how does this apply to a Business? Friction occurs within a business as well. Where? You don’t have to look far for an answer. Wherever you see two entities working together, there is friction. These entities could be people, departments, systems, or any other ‘hand shake’ that happens to bring a product into the market. Or even while a product gets exchanged between a company and a customer. Friction could happen even after that as well, for example due to quality or service issues etc.
Interestingly, all these friction add up (I am not exactly sure on the mathematical formula, but I am sure you understand). Simple example, lets say within department there are 10 people. Now there is friction between all of these people. When this Department interacts with another department, there is friction. Now you see where it is going.
These frictions cause enormous damage to a business. In terms of mis communication, delays, re-works, lost effort, lost time, etc. Businesses provide things like money back guarantees, free service etc to minimize the friction, especially on the customer side.
Why does friction occur at all? Thats a good question. But as the legendary Philosopher Jim Rohn says, I wouldn’t ask that question. Its just the nature of people working together. Even if the product is perfect, Friction is bound to happen. What amplifies it? Could be many things. No proper systems, poor decision making process, no proper communication flow, egos, conflicts etc.
Unfortunately many businesses and owners don’t realize the detrimental effect of the friction and how much it can eat up into the Sales, profit margins , cash flows etc.
Can you imagine the benefits a Business could accrue if we can somehow find a way to eliminate or minimize friction? Huge, immense.
Now how do we achieve this?
CashOS may have an answer for that. Lets connect to discuss further..
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Written on 29th April 2019