Clients and frequent readers of Action Business Development’
s Owners Report will recognize, if you don't have a "profitable,
commercial enterprise that runs without you" (the owner) then
you don't really have a successful business! Yes, you may
have a lucrative profession or job, but to achieve real business
success you must get your business to a stage where it runs
without you - the owner. That way you are free to develop
additional business interests and free to really enjoy all life has
to offer.
This article will examine 4 Key Areas that impact your business
as a whole and that will insure you are on the "fast track" to
operating consistently and efficiently.
People and Education
Why are people your company's best asset? Because they
can earn 2, 10, 20, or more times their salary. Building the
team is the process whereby you replace yourself in the
business. In fact, this process is fundamental to giving you real
freedom - and highly leveraged results. No one builds a
substantial, successful business without a great team.
But how can you afford to get good people? Developing
systems is fundamental to resolving this age old small
business challenge.
Let's take a look at McDonalds, the world's largest fast food
organization. Who do they hire? Teenagers. Think about it
for a moment. McDonalds has built a very successful business
based on hiring kids, at low wages. The same kids you can't
get to clean their room at home. How to they do this? Quite
simply, systems are a key factor. They have developed their
systems to such a degree, that even a kid can follow them.
Some typical people systems that you should consider include:
recruitment procedures, induction training, recognition and
remuneration systems, ongoing skills training, team building
and team goal setting, position contracts, conflict resolution,
and career planning.
Delivery and Distribution
This is the area where most business owners focus on
systems. It is the area that has been most impacted by our
modern computerization. Examples include delivery
schedules, production schedules, and forecasting programs.
Systemization, however, goes much further. Push the
boundaries for huge gains in your business. Systemize
everything you can to free up resources for use elsewhere in
your business. And remember - delivery and distribution could
be the last chance to make an impression on your customer!
Typical systems here include: supplier selection and
performance management, customer service, outsourcing,
order tracking, security, quality control, purchasing and
receiving, and inventory control.
Testing and Measuring
This is a core strategy for Action coaching. Most people hate
it for one of two reasons. Firstly, it means accepting the reality
that every strategy you try will not work the first time. Secondly,
they perceive it as unproductive administration. But consider
this - if you don't have a system for testing and measuring, you
have no real idea which marketing campaigns are working,
how well your salespeople are doing or even how much each
sale is 'costing you'.
Once you know these things, you have the power to make
decisions, and good ones. You know which marketing
campaigns to kill, or improve, and which to spend more money
on.
You'll also know where your 'key leverage point is' - that is, the
thing that you most need to improve. Perhaps your conversion
rate is high but your leads are few - maybe it's the other way
around. Maybe you're doing well in both lead generation and
conversion, but you're not selling enough high priced items.
Once you know which area needs work, you can start to make
some new, well-informed marketing decisions.
The greatest business people and marketers are not
necessarily the smartest or most innovative. Most simply
understand the concept of testing and measuring. You need
to accept the fact that business is as much an art as it is a
science. For example, while here are certain rules, so many
variables are often involved that it is extremely difficult and
usually highly impractical to accurately estimate the exact
impact of a new marketing activity.
Typical testing and measuring systems include: measuring the
number and origin of leads, new customer acquisition,
customer retention, analyzing marketing campaign profit,
measuring your average dollar sale, measuring key
performance indicators, budgeting and monitoring cash flow.
To get your Instant Testing & Measuring workbook, click here.
Systems and Technology
The ever-changing and quickening pace of technological
developments require an organized and thorough approach
for you to stay in control of your business. This area is ideally
suited to being systemized. Typical systems include:
accounting system documentation, computer invoicing,
operations manuals, computer backup systems, work-flow
documentation, information flow processes, computer
networking, and security systems.
Systemizing your business will give you a team that is
empowered and committed to your business. They will
probably experience for the first time real job satisfaction.
And, they will regard you as a true leader. So what are you
waiting for? It's time to get into Action.
This newsletter has one mission - to provide you with a wealth
of knowledge, techniques, practical ideas, and mentoring to
energize your business. We believe that being in business
should give you what you want out of life. That's why our
practice focuses on a program called "Six Steps to Massive
Results." It is designed to help you grow your business,
maximize profits and create free time to achieve your personal
objectives. This issue focuses on the Third Step - Developing
Leverage by creating systems in your business.
To learn more about what a how to develop systems and
procedures see the August 2004 issue of the Owners Report.
===============================================
Jim Gragtmans and Sandy Kemp are Action International
Business Coaches helping business owners grow their
business & do more with less effort.
Why are some businesses able to stand out from the crowd
and sell lots of product, very profitably? Because they have a
Unique Selling Proposition (USP).
Click here to learn more
www.actionbusinessdevelopment.com/products.html
================================================
**Attn: eZine editors and Site Owners**
Feel free to post this article in it’s entirety in your ezine or on
your site as long as you leave all links in place and include our
resource box as listed above.
If you need additional articles, check out our Article Archive for
fresh new content you can use on your website for FREE!
www.actionbusinessdevelopment.com/Tools.html
If you do use our articles, please let us know so that we can
have a look. Thanks
Jim & Sandy
mailto:jimgragtmans@action-international.com
mailto:sandykemp@action-international.com
s Owners Report will recognize, if you don't have a "profitable,
commercial enterprise that runs without you" (the owner) then
you don't really have a successful business! Yes, you may
have a lucrative profession or job, but to achieve real business
success you must get your business to a stage where it runs
without you - the owner. That way you are free to develop
additional business interests and free to really enjoy all life has
to offer.
This article will examine 4 Key Areas that impact your business
as a whole and that will insure you are on the "fast track" to
operating consistently and efficiently.
People and Education
Why are people your company's best asset? Because they
can earn 2, 10, 20, or more times their salary. Building the
team is the process whereby you replace yourself in the
business. In fact, this process is fundamental to giving you real
freedom - and highly leveraged results. No one builds a
substantial, successful business without a great team.
But how can you afford to get good people? Developing
systems is fundamental to resolving this age old small
business challenge.
Let's take a look at McDonalds, the world's largest fast food
organization. Who do they hire? Teenagers. Think about it
for a moment. McDonalds has built a very successful business
based on hiring kids, at low wages. The same kids you can't
get to clean their room at home. How to they do this? Quite
simply, systems are a key factor. They have developed their
systems to such a degree, that even a kid can follow them.
Some typical people systems that you should consider include:
recruitment procedures, induction training, recognition and
remuneration systems, ongoing skills training, team building
and team goal setting, position contracts, conflict resolution,
and career planning.
Delivery and Distribution
This is the area where most business owners focus on
systems. It is the area that has been most impacted by our
modern computerization. Examples include delivery
schedules, production schedules, and forecasting programs.
Systemization, however, goes much further. Push the
boundaries for huge gains in your business. Systemize
everything you can to free up resources for use elsewhere in
your business. And remember - delivery and distribution could
be the last chance to make an impression on your customer!
Typical systems here include: supplier selection and
performance management, customer service, outsourcing,
order tracking, security, quality control, purchasing and
receiving, and inventory control.
Testing and Measuring
This is a core strategy for Action coaching. Most people hate
it for one of two reasons. Firstly, it means accepting the reality
that every strategy you try will not work the first time. Secondly,
they perceive it as unproductive administration. But consider
this - if you don't have a system for testing and measuring, you
have no real idea which marketing campaigns are working,
how well your salespeople are doing or even how much each
sale is 'costing you'.
Once you know these things, you have the power to make
decisions, and good ones. You know which marketing
campaigns to kill, or improve, and which to spend more money
on.
You'll also know where your 'key leverage point is' - that is, the
thing that you most need to improve. Perhaps your conversion
rate is high but your leads are few - maybe it's the other way
around. Maybe you're doing well in both lead generation and
conversion, but you're not selling enough high priced items.
Once you know which area needs work, you can start to make
some new, well-informed marketing decisions.
The greatest business people and marketers are not
necessarily the smartest or most innovative. Most simply
understand the concept of testing and measuring. You need
to accept the fact that business is as much an art as it is a
science. For example, while here are certain rules, so many
variables are often involved that it is extremely difficult and
usually highly impractical to accurately estimate the exact
impact of a new marketing activity.
Typical testing and measuring systems include: measuring the
number and origin of leads, new customer acquisition,
customer retention, analyzing marketing campaign profit,
measuring your average dollar sale, measuring key
performance indicators, budgeting and monitoring cash flow.
To get your Instant Testing & Measuring workbook, click here.
Systems and Technology
The ever-changing and quickening pace of technological
developments require an organized and thorough approach
for you to stay in control of your business. This area is ideally
suited to being systemized. Typical systems include:
accounting system documentation, computer invoicing,
operations manuals, computer backup systems, work-flow
documentation, information flow processes, computer
networking, and security systems.
Systemizing your business will give you a team that is
empowered and committed to your business. They will
probably experience for the first time real job satisfaction.
And, they will regard you as a true leader. So what are you
waiting for? It's time to get into Action.
This newsletter has one mission - to provide you with a wealth
of knowledge, techniques, practical ideas, and mentoring to
energize your business. We believe that being in business
should give you what you want out of life. That's why our
practice focuses on a program called "Six Steps to Massive
Results." It is designed to help you grow your business,
maximize profits and create free time to achieve your personal
objectives. This issue focuses on the Third Step - Developing
Leverage by creating systems in your business.
To learn more about what a how to develop systems and
procedures see the August 2004 issue of the Owners Report.
===============================================
Jim Gragtmans and Sandy Kemp are Action International
Business Coaches helping business owners grow their
business & do more with less effort.
Why are some businesses able to stand out from the crowd
and sell lots of product, very profitably? Because they have a
Unique Selling Proposition (USP).
Click here to learn more
www.actionbusinessdevelopment.com/products.html
================================================
**Attn: eZine editors and Site Owners**
Feel free to post this article in it’s entirety in your ezine or on
your site as long as you leave all links in place and include our
resource box as listed above.
If you need additional articles, check out our Article Archive for
fresh new content you can use on your website for FREE!
www.actionbusinessdevelopment.com/Tools.html
If you do use our articles, please let us know so that we can
have a look. Thanks
Jim & Sandy
mailto:jimgragtmans@action-international.com
mailto:sandykemp@action-international.com
Do You Run Your Business or Does It Run You?
| Feel free to use this article |
**Attn: eZine editors
and Site Owners**
Feel free to post this
article in it's entirety in
your ezine or on your
site as long as you
leave all links in place
and include our
resource box as listed.
If you do use our
articles, please let us
know so that we can
have a look.
Thanks
Jim & Sandy
and Site Owners**
Feel free to post this
article in it's entirety in
your ezine or on your
site as long as you
leave all links in place
and include our
resource box as listed.
If you do use our
articles, please let us
know so that we can
have a look.
Thanks
Jim & Sandy
