Continuous improvement is an idea that comes from the business world. After World War II, Japanese manufacturers invited W. Edwards Deming, an American engineer, professor, and management consultant, to their country to help them improve their manufacturing and production processes.
Before the war, Japan was synonymous with cheap goods and shoddy craftsmanship. Deming taught leaders that improving the quality of their products would reduce expenses while increasing productivity and market share.
“It’s simple. You just take something, and then you do something to it. Then you do something else to it. And then something else. Keep this up and pretty soon you’ve got something.”
-Jasper Johns, Twentieth century American artist (who, incidentally, grew up near my hometown)
In 1982, Deming published a book, Out of the Crisis, outlining his philosophy. “Long-term commitment to new learning and new philosophy is required of any management that seeks transformation. The timid and the fainthearted, and the people that expect quick results, are doomed to disappointment.” Continue reading “On Continuous Improvement”
Mr. ThreeYear and I have, over the course of our ten years of paying attention to finances, amassed a pretty decent net worth. We have done it by prioritizing spending in the areas that we care about (like saving for the future) and cutting spending in other areas. Many times on the blog, I write about the things that we do spend money on, like travel, and I can’t help but get excited and implore you to adopt similar spending habits. However, the truth is, this is a mistake on my part, and I apologize for it. You should not necessarily spend your money on the things I spend my money on. Nor should you save your money for the reasons that I save mine.
Why? Because you and I have different values. I’m sure some of our values coincide or else you probably wouldn’t be reading this blog for very long, but it is almost definitely true that you and I value some different things. Your values are based on where you grew up, how you grew up, the challenges you faced, things that went well for you, and special circumstances you currently have in your life. You prioritize your spending based on those values.