Lean Six Sigma a golden ticket for entrepreneurs

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For those starting a new business, effective fund management could mean the difference between success and failure. Applying process improvement methodologies such as Lean Six Sigma can help entrepreneurs prevail - something that's especially difficult in today's climate of economic uncertainty.

"For a new businessperson, learning about Six Sigma will help you constantly focus on profits and keep you on course," writes Noobpreneur.com, a website that provides resources for small business owners and entrepreneurs.

Bringing in a Lean Six Sigma consultant can help companies carry out the DMAIC process in a way that maximizes their returns. The DMAIC approach is made up of five steps - defining important metrics, measuring historical performance, analyzing the best ways to augment the current system, improving processes and controlling future output by establishing a culture of continuous improvement.

DMAIC originated in the manufacturing industry, but has since been used with great success in a number of other sectors, ranging from healthcare to retail. 

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