Time management

One Key Success Factor Influencing Every Business

Of course there are many things you can and most probably do overlook in your business as an entrepreneur, and you will be ok, but there are definitely some that are going to hurt much more than others if you do overlook them. Remember  hearing the phrase ¨Prevention is better than cure¨?  You don´t want to make the same mistakes many entrepreneurs make, you want to prevent having to cure your business one day.

Why wait for things to go wrong in your business to then spend time and money trying to fix them, while tripling your stress levels and compromising on the future of your business? There are a few areas that need to be looked at while growing your business, in this brief article I want to focus on one of them.  Whether you are starting out as an entrepreneur or you have been going for a couple of years, something you really don´t want to overlook is systemizing and standardizing your processes.

How often in your day to day work do you perform that same type of activity or even perhaps once a month? Do you document the process of your work activity? If you are setting up a webinar or writing an e-book, or your job is to reconcile the bank statements, whatever it is, if it can be documented, do it in the moment of working.

Why is this so important..

It may not be so obvious to many why you want to do this, so let´s look briefly at why this is so important…

  • Businesses that are properly systematized and standardized are firstly worth more, and they are easier to sell one day if that is your objective.
  • If you want to be prepared for growth and keep consistent quality, you need to make this part of your business culture.
  • If you have many people working in your business, you don´t want to have bottlenecks, you don´t want to be dependent upon specific people performing a task or all else fails. What happens if one day you are ill or another member on your team, having a process already documented will allow you to easily delegate this task so that your business doesn´t have to come to a standstill because of one individual.
  • If you are a solopreneur, don´t overlook this either. You most likely perform the same type of activities regularly and I´m sure that because you are a solopreneur, you wear many hats, meaning you are doing many new things. Having everything documented will save you copious amounts of time when you do that activity again because no time is wasted on doubting how to do something, or forgetting a vital step, for example.
  • You are also able to see where improvements can be made and parts of the process automated.

How to start getting processes and checklists into place

Whether you are starting a new activity or documenting an old one, (you most likely know the activities that get done on a regular basis that can be documented), you want to write down the step-by-step procedures that explain how to perform the activity.  Cross check with others who may also regularly perform this task. Everyone is the business must be prepared to help document and also make the processes better in the business.  You need to decide whether you take time out to start doing this or you start now and build as you go.

If you already have your processes systematized and standardized, ask yourself this: If I came into your business today and I chose one of your process´s to perform, would I be able to do it without any assistance? If so, well done! If not, you need to work more on this.

Don’t overlook this! Remember…prevention is better than cure!

Don´t forget to sign up for your free e-course – 7 Simple Strategies to Triple Your Productivity!

 

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Comments 2

  1. Sanjay Mishra
    January 1, 2013

    An incredible topic. Usually we don’t practice and struggle every time.

    1. admin
      January 7, 2013

      I know, it is usually a blind spot for most entrepreneurs, but mastering a few techniques really transforms results! 🙂

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