The “3Ms” that impact our success are: Markets, Materials, Manpower.
On Tuesday, we discussed Markets which describes whether we have an ample field of customers who are buying what we are selling, the competition we have to face and how that matches up to our capabilities.
On Wednesday, we discussed Materials which points to the fact that we use upward of $180 million in lumber. Our profitability is impacted by the relative size and availability of the raw material basket and how well we perform in it.
Today is Manpower. Have we assembled the necessary team? Is the team effective and continually improving in the way it executes our business plan? How do we compare with our competitors? How fired up are we to come to work every day?
One of the key things to understand about Manpower is that we have a chance to impact that M more than any other.
If the economy implodes and our market declines (like it did in 2008-09), all we can do is adjust to our new reality.
If it rains all winter and logging conditions make lumber tight, all we can do is adjust to our conditions.
The ones that have to do the adjustment to the other factors is us-the Manpower.
We are the ones who have to come up with creative solutions to the curve balls thrown.
We are the ones who have to work hard on uphill challenges.
We are the ones who have to execute our plans.
We are the ones who choose how safe we will be.
We are the ones who determine whether the customers are satisfied with our offerings.
We are the ones who establish our relationships and build our reputations.
We control how we perform better than we can impact markets and materials. That’s the power in Manpower.