Life Is all about investment.
You invest time & energy into your spouse, family, friends, hobbies, and even in your company. Sometimes you get a return on your investments sometimes you don’t.
I am here today to talk to you about investing into your business and even more importantly into your employees. You may wonder how exactly and it’s not a straight answer as there are many ways to go about doing it, but I am here to teach you the most efficient way- by systematizing your business. To systematize simply means to arrange into a system, a plan or method, how the business operates from start to finish. In other words, simply mapping or writing down, step-by-step, exactly how each process or function works.
Before we get started I want to find out who already has systems in place within their business?
-What systems do you currently have in place and how are they working for you?
Look at all the large businesses of this world – Apple, Google, Coca cola-
what are a few things they all have in common?
Correct- they all have proven systems within their businesses.
One of their greatest assets and similarities is the ability run and operate if the CEO is on vacation or the manager is out sick. This is because they have specific systems in place that handle the checks and balances. Systematizing is simply creating procedures or policies tailored to your business to streamline operations, order, and productivity.
As a new business, you typically wear all the hats, right? You are not only the technician, but also the CEO, CFO, CTO, among many other things.
Who knows what I am talking about from first hand experience?
You should be running your business like you are planning to franchise. Creating systems and procedures along with documenting everything will be your key to success. You should be able to walk over to your neighbor, hand them your business model, and they should be able to perform the job at hand- just like a franchise.
What benefits do you see with creating systems in your business?
1. Streamlines operations
2. Gives you quality control
3. Empowers your employees.
If you must be in your business for it to run and operate, you do not have a business you have a job.
Implementing systems within your business ultimately allows you to take yourself out of the equation. Systems and outsourcing go hand and hand. So be sure to outsource what you can and create internal systems everywhere else.
Steps to take:
1. Treat your business like a franchise
2. Outsource what you can to give yourself more time
3. Outline existing systems
4. Identify specific tasks and the best way to execute them
5. Create a sequence
6. Document your procedures
7. Test your system
Systems that should be implemented in your business:
*Recommended to outsource
*Accounting/Bookkeeping- Having a system to keep track of your PNL, A/R, A/P, etc. can be a critical aspect to your business. You should always know your numbers.
*Marketing- One of the most important roles in business is marketing. Between digital marketing, paper ads, or just business fliers you need to have a system that will bring clients in. One of the biggest losses a small business makes is not marketing to the clients they have already sold.
*Employee lifecycle- Finding employees, tracking applications, onboarding paperwork, new hire training, HR, time keeping, health benefits, retirement, etc. all need to be systematic to alleviate yourself or your employees with getting dragged down with administrative tasks that can be outsourced.
Operations manuals & employee/management training- Create operations manuals that tell your employees step-by-step how to perform the job at hand. Train you managers to manage the way you want your employees to be managed, not the way they want to manage.
*Information systems- HRIS system (Online employee filing cabinet) keeping track of your employee files,
*CRM/ Sales tracking- Client relationship management software. Allows you to keep track of your clients and prospects information. The system also allows you to track appointments, send out marketing material, make notes, and send out invoices.
Recommended books:E-myth Revisited (Michael Gerber) & The 4-Hour workweek (Tim Ferriss)