Saturday, July 13, 2024
HomeBusiness StrategiesGetting the Right Things Done

Getting the Right Things Done

If you’re like most, unless your vehicle’s fuel gauge goes kaput or is suddenly so out of whack you run out of gas, you probably don’t think about it, much less about how it works.
At its simplest: A sensor floats on the surface of the fuel and, depending on its position in the tank, sends a signal to the gauge or a microprocessor that relays to your dashboard. If you want a more comprehensive explanation that includes why your tank reads full longer than empty and other inaccuracies, check out How Fuel Gauges Work by Karim Nice on HowStuffWorks.com.

Bottom line: Fuel gauges depend on gravity. Without gravity, the fuel would float, the sensor would float. The readings wouldn’t make sense. Which is why the fuel tank used in vehicles on Earth does not work in space.

“Because of the very small amount of gravity, fluid doesn’t settle to the bottom of propellant tanks but rather clings to the walls and could be anywhere inside,” said Lauren Ameen, deputy manager for the Cryogenic Fluid Management Portfolio Project Office at NASA’s Glenn Research Center in Cleveland.

It almost goes without saying …. without space fuel stations or the ability to collect deuterium from interstellar gases (as did the Star Trek fleet) … knowing how much fuel you’ve consumed and have remaining is critical to a space mission. This is why NASA plans to test new fuel gauge technology on its next journey to the Moon (now scheduled for 2025).

“ … the Radio Frequency Mass Gauge (RFMG) payload is set to launch as a part of the Intuitive Machines IM-1 delivery to the lunar surface through the Commercial Lunar Payload Services (CLPS) initiative. With CLPS, NASA is working with American companies to deliver scientific, exploration, and technology payloads to the Moon’s surface and orbit.”
According to NASA, CLPS contracts are of “indefinite delivery, indefinite quantity” and “with a cumulative maximum contract value of $2.6 billion through 2028.” And, according to me, a quite lucrative and perfect example of certain companies being gifted with knowing the next right thing they should be working on.

Some of you noticed in my last article, Success Through Persistent Patience and Strategic Slowness, that I talked about a couple of strategies for “getting the right things done,” but didn’t address how to assess whether something is a “right thing.”

I’m not talking about ethics or moral principles, social or environmental responsibilities. I am talking about the right things in terms of business decisions, such as product and service development.

Here are three things to consider:
1. Does the project align with your company’s core values?
2. Will it grow the business?
3. Is there someone able to do it better?

Align with Core Values
You may be surprised that I prioritize core values over business growth. However, while shareholder profit is always a consideration, profit as the sole purpose of the business isn’t good for the business.

When a business opportunity arises or new technology brings a new possibility to the forefront, I recommend examining it closely through the lens of the core mission and values previously agreed on by your leadership, your board, and advisors. This is why you took your time to brainstorm, sought input from your team and a variety of sources, and created core values that are more than empty values statements. This is why you reassess them annually. They are there to be used as a guidepost.

If, for example, a core value is to “Meet all client commitments” and a project will derail those commitments and undermine that value. It may not be easy. But you just might need to take a hard pass.

Grow the Business
Not only should you consider whether an opportunity can grow the business, you need to consider whether you’ve grown a team that can handle the opportunity.
It can be terribly tempting to hear of a $2.6 billion contract and decide that your team, the one that has been developing gas tanks for earth-bound vehicles for decades, can easily transition to space vehicles. Yet, how many times have we seen companies jump into what at the time seems a great opportunity, only to end up unable to deliver and have to cut staff, close offices, and even go completely out of business.
Companies must consider their team and their clients and industry (where they are and where they’re going) and invest in systems, processes, tools, and research and development, to build an organization that can sustain itself for the long term.

Do it Better
There is nothing wrong and a great deal right with admitting someone else can do something better. A partnership is often the better approach. Compared with other industries of which I’ve been a part, the lending industry, and particularly auto lending, is enormously partner intensive. For good reason. It would be impossible for one organization to attempt to provide the information, products, and services required during the complete, end-to-end lending lifecycle, and there are many established and start-up organizations on hand and ready to integrate while allowing you to remain focused on driving in your lane.

Resources:
NASA Tests New Spacecraft Propellant Gauge on Lunar Lander, Ellen Bausback https://www.nasa.gov/centers-and-facilities/glenn/nasa-tests-new-spacecraft-propellant-gauge-on-lunar-lander/

Tom Allanson
Tom Allanson
Tom Allanson is CEO of defi SOLUTIONS. With an open-door attitude and client-first enthusiasm, Allanson motivates and empowers team members to deliver excellence today while innovating for tomorrow. He has more than 25 years of executive leadership experience in fintech and lending and has consistently demonstrated an ability to build, grow, and enable high-performing teams and businesses. 
Verified by MonsterInsights