How do you build a business that works without you?
Every business has its own unique characteristics, but there is always a flow of work that makes up the overall concept. Your task as the owner is to identify and build your own systems, detailed in a ‘procedures/tasks manual’ (sometimes called an ‘operations manual’). Every segment of your business must have definite procedures that make up the workflow. These procedures are totally consistent with your strategic goals in the business.
Just being armed with a business plan or a set of strategic goals does not mean that running your business will be easy. Work must be done to get the systems, procedures, and organisational structure right. Ray Kroc sweated over this for a considerable time before he was confident that a franchise operator could come in, switch on the register and lights and stovetop, and deliver the same high-quality hamburger, time and time again. Every detail of the business must be handled, examined, improved and documented, and improved upon again.
Up until now, whether making a sale, negotiating with a supplier, or keeping track of expenses, it has been you, as the business operator, just getting the job done. This is fine, if the business is just you. But if you are ready to grow into developing your ‘systems and procedures’, then a change is needed.
This exercise requires all key people to be considered. Each person in the business must ask, ‘what would best service our customers here? How could I streamline or adapt the practices, in order to give the customer what they want most easily, while at the same time maximizing profits?’
To kick off this process, ask yourself: do you have the time, the skills and the capacity to execute these activities to develop your “perfect” business model? If not, you could plug into an existing system – which is, of course, already the domain of franchises, but also exist in many network-marketing businesses. From The 7 Biggest “Costly” Mistakes Business Owners Make (And How to Survive & Thrive) by Richard Cooper – Continued in Part 4………