Many people say that they want to grow their business. They say that they want more profits. They say that they want more time off. The problem is that many business owners say these things without knowing how or without implementing the necessary action steps to get there.
The key to massive growth, and what all successful large corporations have figured out, is that every area of the business must be systematized. This means creating “how to” manuals for each position. This means understanding and implementing testing and measuring systems. This means knowing your break even point.
Some business owners say that this is too much work. However, systems allow you to have consistency to deliver a better product or service, and allow your team to acquire the tools to help build your business.
Here are some top systems to implement to fast track your success:
People and Education
- Set the Company’s Vision, Mission Statement, and Core Values
- Complete “How To Manuals” for each position
- Complete Team Member Positional Contracts
- Create Weekly Lunch and Learns
- Implement a Book Club for Development- all of my team members have kindles
Testing and Measuring
- Complete and Work from Monthly Budgets
- Know the Margins for all Products or Services that you provide- Margin takes into account the fixed expenses per hour to run your business and the variable costs, including materials, to supply the product or service.
- Keep a Record of Your Profit Margins and Compare from Month to Month
- Track and Measure all Leads
- Track your Conversion of Leads to Customers
- Measure Key Performance Indicators for all Areas of the Company
- Measure your Average Dollar Sale per Customer
- Test and Measure Every Marketing Campaign to determine the Return on Investment
- Do an Analyses of your Supply Costs quarterly to ensure that you are getting the best price
- Negotiate with your Suppliers
- Know your Fixed Expenses Per Hour
- Know Your Break Even Point
Written Checklists and Manuals
- Create an Operations Manual which includes Pictures
- Complete a Policies and Procedures Manual
- Document All Sales and Marketing Systems
- Create a KPI Chart for the Company that Lists What Everyone must do Daily, Weekly, and Monthly
- Use Whiteboards to Track Services Completed versus Daily Targets
- Use Checklists for All Tasks
- Schedule Regular Equipment Maintenance
Choose just 1-3 systems to work on at a time and set a deadline of when it must be completed and who in your business will be responsible for implementing it. Before you know it, you will be amazed at how far you have come and what you have accomplished.