In this episode, Paul Spencer explores why conventional approaches to business efficiency and cost-cutting might be limiting your company’s long-term potential. Drawing from Deming’s principles, Paul breaks down the often-overlooked impact of prioritizing price over quality, the hidden pitfalls of relentless optimization, and the untapped value of building deep relationships with suppliers and even competitors. With practical stories and counterintuitive advice, this discussion is designed to help family business owners build genuine resilience and make wiser decisions amid complex tradeoffs. Tune in for a fresh perspective on creating sustainable success beyond just the bottom line.

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Website: https://www.secondnature.solutions/
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Chapters
(00:01) Rethinking Price-Based Procurement
(02:25) Hidden Costs of Short-Term Savings
(06:20) Building Loyalty with Key Suppliers
(08:13) The Downsides of Over-Optimization
(14:31) Embracing Competition as Part of the System