- The 5 Step Framework to building a strong business system - September 2, 2021
- Entrepreneurs Survival Strategy: Prerequisite for 2nd wave COVID-19 lockdown. - February 18, 2021
- The Metabolism of Career Choices - January 20, 2021
Starting, building and growing a business is exciting. But often things get out of control. Balls get dropped and what was once fun and exciting can become a dreary chore. Why? Because of a lack of business systems.
Many founders find themselves working longer and longer hours for little pay. You might start wondering what possessed you to start a business. After all, the goal was freedom, wealth and independence. But now it feels like you’re treading water and going nowhere. Sadly, some owners end up throwing in the towel.
One beautiful thing about setting up a system for your business is that you can leverage and scale your business more rapidly. Once you’ve got systems in place, you can focus your time on creating new products that cater to your different customer segments. So you increase your profit margins.
Systems in business are fundamental runnings of a business that are geared towards achieving results. They are series of interdependent tasks or documented procedures that outline exactly how to do something in an organization to achieve a business objective. Interestingly, good business systems streamline workload, improve productivity and get results.
HERE ARE FIVE SIMPLE FRAMEWORKS YOU CAN USE TO SET UP YOUR SYSTEM HAS STARTUP
1. Identify your business activities
Systems come in all forms so take time to document the activities you do to run your business; It could be activities you do regularly or a single activity that you think you’ll repeat in the future.
To help you add more structure to your systems, categorize your activities in terms of your business functions: Operations, Sales and Marketing, and Finance
2. Break down each activity
Once you have done step 1, break down each activity, according to, people, tools, strategies, and processes needed to complete it from start to finish.
3. Identify ways to improve the system
This is where you must ask yourself, What do I want my system to do for me?
Do you want your system to finish the process faster? Make it more streamlined or automated? Do you want to reduce your workload and free up your time? Do you want to eliminate bottlenecks? Do you want the process to make more money for your business or eat up fewer expenses?
Whatever answers you have generated, channel your system that way.
4. Track and test
Test run the system you have built-in step 3, make sure you track important factors relating to them before, during, and after—what you started with, what you did, and what kind of impact it made.
5. Evaluate and improve
After the test run, evaluate your system. You can evaluate the system as a whole or each of the four components (process, tools, people, and strategies) separately. Did your systems solve a problem or reach a goal? If so, what change is responsible for the improvement? Can you replicate it easily?
Work on the answers you generated to improve your system, you might need to try this couple of times before you get it right.
GABI decided to prepare a FREE Masterclass on this subject to help you improve your business/startup