One thing I have learned running a business and raising a family is TIME of the essence. Between conference calls, client meetings, sporting events, homework (uuuggh), and a touch of personal time I am always looking for ways to get things with precision and speed!
In today’s market running a successful business really comes down to one word, SYSTEMS!!! Systems drive the flow of your business allowing your more time to create, build, and scale in a more efficient manner. Not only that, if for some reason you decide you ever want to sell the business (and everyone should have a buyout plan…ahem) systems allow you to have something to sell. No one will buy your brand, someone will however pay big money for your process. Click To Tweet
With that being said let’s take a look at a 4 Systems you must have in order to be successful in business.
- Marketing System – This is key and often overlooked. Without a consistent way to bring in prospects you will find it difficult to stay in business. Every company needs to have a marketing process that is constant and puts you in front of your ideal customer every single day. When you market consistently you are no longer at the mercy of every client, you know without a doubt that new prospects, leads, and possibilities are coming in the door every day. Your goal is to nurture and convert those leads into new clients.
2. Cash Flow System – How does cash flow through your business? Determine the amount of cash needed to run your business and what profit is left after towards your own expenses. Then create a management system around how money dedicated towards the business is spent. This is crucial many businesses fail due to cashflow issues because there is no system, management, or regulation on how/when/where money is spent. Even if you are small, a freelancer, or individual consultant a cashflow system is necessary.
3. Workflow System – Define how work flows through your business. How do you manage new clients, contractors, billing, how are tasks tracked? This is just a portion of the things that have to happen each day to keep the flow of the business going. Take the time to write out the workflow of each part of your business from vendors to a email marketing. When you create a workflow in your business you eliminate chaos and create a sense of calm.
4. Hiring System – Define the steps you take in order to hire each type of employee in your business. What must be done before the hiring takes place? What is needed during the search? What is the decision making process? Once a decision is made, how are the candidates notified of the decision? Then create a clear description of the work required once they begin. Having a hiring system will allow you to make sound decisions and create a great culture in your business.
Products make you rich, systems make you wealthy. Creating systems gives you more time, more freedom, and far less stress in your business. Where there are problems in your business, there is simply a lack of systems. Grab a copy of your business systems checklist here