Effective systems are the essential part of running a business. But remember, systems in their own right do not create growth ...
A common issue that I find is that the business owner thinks they know that the systems are in place and working when in reality they aren't; either because the systems themselves are faulty or the people operating the systems are not using them correctly. This is where inter departmental issues tend to come to the fore.
A book that highlights this is LNK URL="http://www.amazon.co.uk/The-E-Myth-Revisited-Small-Businesses/dp/0887307280" Title="The E-Myth Revisited"} by Michael E Gerber. This is excellent reading and will keep anyone interested in understanding the most common issues faced by entrepreneurs.
In the most profitable businesses I see, the entrepreneur has released him or herself from the business by systemising each part of the business and allocating responsibilities to other people within the organisation.
This process of gradually delegating and systemising jobs that are currently carried out by owners is the path to maximising the value of a business! But it can take a few years to make it happen and should start with the following areas:
Armed with these processes you should have:
Taking these steps can be frustrating for owners and does involve an element of 'letting go', but ultimately is the main route to maximising the capital value of any business.
If you're interested in coaching for your small business, do call me on 07521 790284 or leave a comment below and let's arrange a free consultation.