Square-1's managing director Travis Smith is co-host of The Business Wingmen Show, a podcast covering business behaviors, strategies, leadership and much more. This week's episode...
EPISODE 89: Investing to Get Ahead at Work
Making advancements in your career or your business means investing in yourself and the people with potential. But, how do you know it will pay off? Listen in as your Business Wingmen podcast co-hosts, Steve Smith & Travis Smith dissect why investing to get ahead at work makes sense, and just as important doing so proactively can change the game!
Listen in to episode 89 here:
The Gig Life – Our Economy Is Changing, Are You Changing With It?
Things are changing all around us and it’s happening at lightening speed.
The workplace, as many of us know it, has been going through a facelift. A facelift commonly referred to as ‘the gig economy’ and despite California’s attempt to curb it via Assembly Bill 5 (AB5) it’s moving forward at the speed of light. Approximately 10% of the US workforce can be classified as a gig, and it’s growing exponentially.
What is the Gig Economy anyways?
It’s an alternative work approach in which temporary positions are common and organizations contract with independent workers or consulting firms for short-term engagements.
You may be saying, “this doesn’t sound new, so what’s the deal?”
While using temporary labor may not be a new thing, what is very new is the amount of work that is now being facilitated through Gig’s on short-term engagements. (AKA freelance, independent contractors, contingent workers, temporary workers, etc.)
Gig freelancing is taking a much wider foothold in our economy. Today it’s common to find all sorts of work being packaged and facilitated through Gigs whereas before these jobs were considered only as fully employed roles. Management roles, engineering, software, events, cooking, the music industry, professional coaching and even academics are a few examples of work which is now being performed largely by the current day Gig worker. It could also mean you and I having a separate part-time job which we use to bring in extra income on the side. (AKA moonlighting)
For example, there are companies and people who do nothing but provide short term support for other companies which have a need for an interim CEO. There are just as many options for companies who want additional support in doing their product design but don’t want to hire a full time employee because it’s work that is intermittent. These are examples of where Gigs come into play.
They serve a role for a period of time on behalf of a separate organization. Once they’re done they’re off to finding their next opportunity, often times they may have multiple jobs/ projects going on at the same time.
Why are companies and people alike moving in this direction?
As our economy and technology continues to evolve we become less and less reliant on doing business face to face. For those of us who grew up in business when you were expected to be in the office for no other reason than ‘face-time’ you should be happy to know that many companies are moving away from this model. Why? We’re learning, slowly but surely, that ‘face-time’ isn’t productive. Employees can be just as productive from home, at a coffee shop or at the local water hole (not that I recommend that) rather than being shackled to their four foot cubicle for nine hours a day.
Productivity soars thanks to the usage of Gigs because it offers people the ability to do work and do so on their own accord. We often hear people who are Gig’s say they “like working this way because it’s more creative, allows for a better work/ life balance and gives them the ability to choose the work they want to do.” The benefit to the employer utilizing a Gig approach is they can reduce their overhead on costly brick and mortar facilities (estimated at $12k per employee per year) while having work completed by true experts in the field. Employers are also able to onboard new talent and off-board unneeded skills without the burden of employment taxes and paperwork.
Why it is important for me to be aware of ‘The Gig Life’?
The reason you should care about what is going on in the Gig Economy is because very soon we will all need to adjust to this new work style in order to remain competitive.
Now I’ve got your attention!
It’s time we gave some good introspective thought on how we do things at the workplace and whether or not that is the right way to do it. Perhaps your business, your department or your team could benefit from using Gigs to handle freelance work. Maybe in doing so you’ll be able to facilitate a wider volume of business which means more customers, more money and more margaritas on the beach in Acapulco. Maybe your employees are tired of seeing your face on the daily and could use a little R&R while working from home.
Either way, it’s time we all jump on the wagon because whether we like it or not the Gig Economy is here to stay and it promises to only grow as time goes on.
“They gave us world class, but all we needed was the basics.”
Last week I was speaking with a VP of Quality at a small medical device company at which point he politely complained to me about a recent experience he had with a consultant their company brought onboard. The company was implementing a new online quality management system (QMS) and was utilizing this consultant to get it up and running.
The VP shared with me his irritation about how the consultant came in and took on the project as an expert in the field. The consultant had done many QMS implementations prior and came with good recommendations of his work. As the conversation went on the VP share further irritation about his experience working with the consultant. He brought in an expert to do a job that was rather straight forward yet that’s not what the company got in the end. Unfortunately, the consultant failed to understand one of the most important aspects of his job – understand the needs of the customer and implement accordingly.
“We’re a small company, we don’t need all the bells and whistles right now [from a QMS system]. We just need a system that keeps us in compliance while making things easier from a process flow standpoint.”
The VP was sharing with me a painful experience he was having as a result of someone doing work for him and not understanding what was actually needed in the moment to be successful on that project.
Sometimes what’s needed is the basics, not world class. The key is knowing when each of these is appropriate.
All to often we show up to a project or work with the idea we’re going to dress up the proverbial pig ready for a fancy night out on the town. This pig of ours is going to look amazing, amazing because of the work we did to get it there. However, we end up missing the mark because we don’t bother to ask the right questions along the way. If we had bothered to ask the right questions to understand what was truly needed by the company and the key stakeholders we may find out the ‘pig’ just needs a new pair of shoes, not a whole wardrobe change.
Here’s how this played out in the scenario above with my client and VP…
Here’s the rub on the situation.
If the consultant had bothered to ask the vital question of their client upfront “What does ‘success’ looks like at the end of the project?” he would have found out the client needed a practical QMS which met the basic needs of their product and regulatory requirements yet did not need a lot of the fancy bells and whistles larger companies utilize with their QMS.
Basically, this small medical device company needed a QMS that was straightforward, basic yet allowed them to upgrade their company to meet the regulatory requirements for their product. The client wanted a no frills, basic system yet what they got was a world class system they’ll probably never fully utilize.
Don’t assume your work or project requires you to put forth world class service. Sometimes ‘good enough’ is all that’s needed. Knowing the different between ‘good enough’ and world class work outputs is a vital skill to develop and implement in your career.
Before you begin your next project at work think to yourself “what’s really needed here? The basics or something more?”. Then actually go ask the key stakeholder in charge. Doing this shows an ability to think big picture with an appreciation for what’s best for the company, not what’s best to make you look good as a result of the work you can do.
Orange County unemployment rate is 2.9 percent as of July, 2022, as such the talent scarcity is creating gaps between the supply and demand of skilled MedTech professionals. Given these challenges we’re all facing we recently asked the online community the following question:
Which part of your business has the hardest time finding and hiring talent?
I suppose EU MDR is to blame for this as the majority of respondents indicated RA QA personnel are the hardest to find.
There’s another distinction worth noting that’s adding fuel to the fire. The cost of living (COLA) in Orange County is 54% higher than the national average. As a result, this has a direct impact on the sheer number of people who can afford to live in OC, which decreases the size of the employment pool. Add into the mix issues the overall State is experiencing like a 250k net migration loss along with relatively new industry regulations like EU MDR and you have a perfect storm where demand is grossly outpacing supply.
Pete Nalbach, GM of SeaSpine in Irvine, CA shared some interesting insights about the present hiring, employment and talent situation:
Pete indicated and I’m paraphrasing a bit “…candidates have options. This means they only accept jobs they really want which in turn gets a higher engaged employee for the company in the long term”
What’s your solution to the talent shortage?
The results are in from our Square-1 Engineering online poll...."What are the top 2 most frequent reasons warning letters/ citations are issued by the FDA?"
Listen in as our managing director, Travis Smith, covers the results of he poll while sharing commentary from the medical device community.
Need help dealing with an audit or warning letter? Learn more about our support capabilities at https://lnkd.in/g7NX_8pw
#poll #fda #capa #complaints #regulatory #quality #medtech #square1engineering
We’ve had an unprecedented amount of commentary and feedback on the original article published in early 2018 covering ‘Picking the Right Supplier’. Given the current economic and supply chain challenges facing many businesses in 2022 we’ve updated the article to reflect today’s business needs in an ever-changing marketplace.
When you need help in your business how do you figure out where to go to find it? Just as important, how do you make sure the help you select is the right one for the job?
The supplier selection process (finding and picking your help) is an important and vital step for any size company. Making the wrong decision can lead to countless hours of wasted time and of course money down the drain. To find the right supplier, a ‘supplier selection process’ is important to develop ahead of time, especially for small and start-up based business where decisions can have a larger impact on the state of the business.
When looking for a new supplier follow these steps to best position yourself and company for success in picking the right relationship for your business:
1. Know What You Need Before You Need It
Two reasons this is important: 1st – if you don’t know what you need how will you be able to explain it to a supplier? If you can’t explain it how will they understand what you need to then be able to successfully deliver on your behalf? When we know what we need, and therefore want, we're better prepared to explain those needs while setting expectations for what a successful partnership looks like. This minimizes miscommunication and opportunity for expectations to fall through. 2nd - Waiting till the last minute to find suppliers often leads to decisions being made which may get you out of a momentary jam but leads to larger problems down the road. For this reason it’s vital you are proactive in establishing relationships with vendors and suppliers before you actually need their help.
2. Finding A Supplier
Referrals, referrals, referrals! Once you know what you need the best approach to finding the right supplier is by reaching out to others in your industry, or local industry associations, to learn who they use, and just as important who they don’t use. Take the time to read reviews, gather intel from people you trust before you start calling potential suppliers. While sites like Thomasnet and Google can provide this information it is likely you will quickly find yourself overwhelmed with information. In the end the most useful data is those that are unbiased or comes from experience which is best collected from trusted resources. Me personally, I would rather work with someone I know, or with someone a close source to me knows, rather than cross my fingers and hope for the best by using an online search. As stated in #1, do the leg work to find suppliers proactively before you actually need it!
3. Be A Detective, Collect Useful Information
It's vital you vet all potential suppliers with the same list of needs, criteria, and expectations this way you can compare each supplier and what they bring to the table. This will help to create an even playing field when looking at a supplier’s capabilities, offering and of course pricing. Below shows an example of what a ‘Supplier Selection Criteria' may look like. Using this type of tool allows you to collect similar information while comparing against other options. It’s important to remove emotion from this process while sticking to facts. Remember – each situation may be different. There may be a time you need something quickly, in this situation ‘quick response’ usually translates to higher cost. Maybe location of your supplier or their experience in your industry is important. Each situation is different and should be viewed as so in order for you to determine what supplier is best fit for your needs.
4. Strategic Thinking & Economies of Scale
Once you know what you need from a supplier it’s important to think about other associated or cross functional activities which need to be done that could be accomplished by a single supplier. The ideal situation is you find a supplier that can do more than just one component of your needs, therefore providing more value in the long run. This also saves time because you have less suppliers and vendors to managed increasing your efficiency and effectiveness. Lastly, its not uncommon when you have one supplier doing several things for you to experience a price break as a result. The flip side may also be true – if you have one supplier dominating a particular part of your business that can also be a risk point as well. Balance is key here while consistently reviewing your relationships, needs and financial output annually.
5. Proactively Learn About Your Suppliers Behaviors
When speaking with a potential new supplier try connecting with the people you will be working with, not just the company’s salesperson. This is important because once the relationship is established most of your time won’t typically be spent with their salespeople rather those delivering the service or product. When courting a supplier pay attention to things like:
6. Economics & Supply Chain
Simply put - can your supplier withstand a downturn in the economy? Do they have a strategy in place for dealing with supply chain issues? I love working with small companies because I think it’s important to support small businesses, however I do often think about their ability to weather the storm from a business continuity perspective. Regardless of the size of the supplier, what is more important is can they continue to meet your needs even when times get tough. If they are a critical supplier to your business it’s worth spending time to learn about this proactively as you don’t want to find yourself in a situation where the economy takes a digger causing your supplier to go belly up or unable to meet its commitments. Your supplier’s inability to manage their business may just leaving you high and dry, in the process causing you to have your own business continuity issues.
In the end, the supplier selection process should ideally come down to three things, in ranked order:
At the end of the day it doesn’t matter how affordable or cost effective a supplier is, or how nice they are as people. If they can’t perform, and do so consistently, the other two ultimately don’t matter. I’ve also found that paying a bit more for the right service and relationship often is worth the investment it in the long run despite the extra cost up front. As Benjamin Franklin is quote as saying, “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
Our client, a Class III medical device company, was issued an FDA 483 warning letter due to product field failures and QMS issues posing life threatening risks to implant patients.
The Square-1 Engineering subject matter experts (SME team) were brought in to identify & correct systems and process issues across six (6) functional departments and two (2) manufacturing locations domestically. As you can guess our clients’ situation was dire due to several implant failures in the field.
We invite you to download the case study below to learn how we saved our client $4.5M while successfully concluding the remediation project.
[Click Play] Gallup indicates 70% of startups fail in the 1st 5 years. What are
your thoughts on these six strategies to improve the chances of commercializing your startup or getting acquired?
#medicaldevice #startup #lifesciences #outsourcing #reimbursement
#valueproposition #marketaccess #strategiesforsuccess #strategy
If you want to speed up your work when designing complex assemblies use the Master Modeling technique to avoid aligning all of the components individually.
[This article is also featured on episode 72 of the Business Wingmen Podcast Show]
Successful performance is everything! Our ability to execute at work is something we as professionals need to strive towards every day, yet many of our colleagues seem to have forgotten this time-tested reality of business. As Rory Vaden, bestselling business author and leadership speaker, accurately shares, “success is not owned, it is rented - and that rent is due everyday.”
Vaden hits on a key piece which would serve all of us well to keep in mind as we come to work - our ability to successfully perform our job is what keeps us gainfully employed. I’ll take it a step further, what got us the job was our credentials, the things we’ve done in the past. What keeps us in the job thereafter is 100% our ability to get things done – the things that matter to the company and our respective performance.
The same is certainly true in the consulting world, frankly I would argue it’s even more focused on performance and execution than a normal 8-5 full-time job is. The world of consulting can be summed up in 3 words: execute, execute, execute! Anything less and you’ve missed the mark.
Consultants, like many of our fully employed brethren, has a tendency to forget the reason they are there, the reason they have a job – it’s to fix, solve and solution other peoples’ problems. Our inability to do this will inevitably lead to a consultant, or consulting firm, finding themselves unemployed or not getting asked back to continue supporting their customers. It’s for these reasons we need to employ the below five ‘best practices’ in our daily work. Your ability to do so will do two things – help keep you focused on what matters (successful execution of your task or job) while separating yourself from the competition and or your colleagues.
Best Practice #1 – Proactive Communication
If you’ve ever had some one say to you, especially someone in management, “can you give me an update on where you’re at with X”, you’ve just failed the first lesson of communication. Professionals who operate at a high level understand the importance of fluid and consistent communication. They know it’s important to communicate proactively, ahead of time. They don’t wait until the last minute to spring an urgent matter on the team or their boss, they don’t procrastinate, and they certainly don’t wait to inform those around them they are going to miss a deadline the day the deadline is due. Proactive communication is all about respecting the process and those around you.
Best Practice #2 – Positive Mindset
The beautiful thing about the way our minds work is we have an incredible amount of power over most of what happens in our heads. In particular, our outlook on things, our attitude, is 100% within our control. If we show up to work with a bad attitude, closed to others ideas, not welcoming feedback and or unwilling to collaborate with others we quickly will build a reputation as a person on the fringes. There’s no quicker way to alienate oneself from a team or your boss than by having a poor attitude. Yes, we all have our bad days – it happens even to the best of us. What’s important is to have your moment and then move on. Focus on what you can control and be open to ideas, different approaches and perspectives. An open and positive mindset is contagious causing your colleagues to feel invigorated working with those of us who can come to the table and leave the sourness at the door. Positive thinking also boosts our health by reducing stress!
Best Practice #3 – Ownership
We don’t need to be in management or the owner of a company to operate in a capacity of owning our work. Those of us who employ ‘ownership’ in our work don’t make excuses for shortcomings, we don’t worry about excuses because we’re busy finding solutions. When we own our work we don’t wait to be told what to do, we seek work proactively and or ways to improve things around us. People who operate with an ownership mentality have a tendency of being able to make decisions quicker while experiencing success more often. If you’ve ever said “that isn’t a part of my job description” you just failed the ownership best practice. People who own their work get promoted more, are typically paid higher wages and increasingly get called back to help with projects. They take responsibility for how they show up and encourage others around them to do the same.
Of all the best practices listed in this article it is my humble opinion the practice of owning ones work and being accountable for it carries with it the biggest positive impact on our jobs.
Best Practice #4 – Accessibility
In the dawn of everyone working from home these days, or remotely, being able to get a hold of someone during normal working hours is critical. Simply put – if your boss has to track you down every time they need to reach you it probably isn’t going to end well for you in that job. Same is true if your company uses communication tools like Slack or Microsoft Teams. These tools are used to improve communication amongst the team, if you aren’t logged into the tool and or are unresponsive, you’re setting yourself up for a quick career death in your job. This doesn’t mean you need to be chained to your desk or phone eagerly awaiting the next hopeful call by a colleague or boss. What it does mean is that you need to be mindful of the various ways in which your company communicates and be attentive to those processes. If people feel like its easy to get in touch with you and or you respond quickly, they will invariably feel you are on top of things and are a reliable person to work with.
For example, our company practices the ‘1/24 rule’ during standard business hours. We expect our teammates to acknowledge a communication with a response within an hour and provide an answer, or what to expect next within 24 hours. We aren’t perfect at this down to the minute (as that would be unrealistic) but I’ll be the first to say this practice makes our teammates highly proficient and therefore their jobs easier.
Best Practice #5 – Systems & Tools
Whether you’re a consultant, an employee or just new to your job, in today’s world there’s no excuse for not learning a company’s procedures, systems and tools. Those of us who choose not to work within these parameters typically find ourselves making careless mistakes, coming up short on our projects and irritating the heck out of our colleagues and management. Why is this? Well, when we don’t use a tool right, or don’t follow a certain SOP accurately it inevitably makes more work for someone else down the road. Trust me when I say every one hates having to fix other people’s inaccuracies, especially when it’s documentation related. If you’re new to a company do everything you can to quickly spool up by learning the tools, systems, workflows and documentation processes. The quicker you learn it the better your work product and output will be. People may just like working with you better as a result.
While there are many things which lead to someone being successful in their line of work, I firmly believe these five best practices are things all professionals can do, regardless of their experience, education level, etc. We have a choice to make every day when we show up to work – be the best at what we do or simply be average. As the job market continues to tighten up those of us who are average will find themselves unemployed far more frequently than those of us who choose to operate at a high frequency. It’s a choice – do you have what it takes?
About the Author
Travis Smith is the founder and managing director of Square-1 Engineering, a life sciences consulting firm, providing end to end technical project services to companies which design, develop and or manufacture products in Southern California. He successfully served the life sciences marketplace in SoCal for over 15 years specializing in engineering services, consulting, project outsourcing and leadership development. In 2019 he was recognized as a ‘40 Under 40’ honoree by the Greater Irvine Chamber of Commerce as a top leader in Orange County, CA.