How Systemising Your Business Can Maximise Its Value
Do you really want to do everything yourself?
POSTED BY KIRSTY PARRIS ON 20/07/2018 @ 9:00AM
Effective systems and processes are the essential part of day to day business running. Business systems in their own right do not create growth but without robust systems in place, growth will be almost impossible to achieve. Conversely, you may also find your business going backwards simply because your systems aren't working ...
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.
"Whatever journey your business is on, it is often right to look at the systems first!"
A book that highlights this is 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:
Identify the key systems the business needs to succeed,
Organise the business in a way that everyone clearly knows their objectives and responsibilities,
Implement Total quality management (TQM),
Manage employees to get the best out of them,
Build systems and put procedures and scripts into place so that they can work,
Monitor and improve the systems over and over.
Armed with these processes you should have:
Identified the key systems and start the process of standardising the way the business works,
Written a management plan with targeted results,
Created a detailed organisational chart with key employee objectives and position statements,
Set an action plan.
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.
Give me a call on 07521 790284 or click here to send me an email and let's talk about systemising your business and helping it to grow!
Until next time ...
If you're interested in business coaching and my blog post has inspired you to find out more, visit www.andromedaconsulting.co.uk and let's arrange a free consultation!
I'm Kirsty Parris and I specialise in helping business owners, like you, to realise the true potential of your business. Whether that is getting you back on track with your business plan or helping to devise and implement new plans that you never thought possible.
Some of my clients see me as a coach, a mentor, a consultant and some even as a financial therapist!
Based near Milton Keynes I primarily work with owner managed and family businesses between London and Birmingham.
I offer a broad spectrum of business development services including business coaching, business growth planning, sales and marketing support, personnel support and systems reviews.
I am not just another business consultant as I see the job through with implementation should you require it and I will work with you on a retained basis as an addition to your team or on a project by project basis...your call...and there is no tie in. You work with me for as long as you are seeing the results.
Your minimum requirement? You need to be ambitious enough to reach or exceed your personal and business potential. Together we will make it happen!