How Does a Business System Work?
One of the most overlooked aspects of running a successful business is the business system. A business system is nothing more than documented processes and procedures that allow your business to run without you. One of the most successful companies that utilize systems is McDonald’s. They have managed to run a successful and profitable business for more than 60 years because of the fantastic business systems that were put in place.
Why You Need to Implement Systems in Your Business
Unfortunately, many small business owners are caught in a catch 22. They have no time to work on their business because they are too busy working in their business. They can’t take time away from the company. Along with saving you time, there are many benefits of implementing policies in your online business.
Lower Labor Costs
Putting documented systems in place will help to improve efficiency in your company, resulting in a reduction in your labor costs. When an employee leaves, they may be the only ones knowledgeable of how to perform their required job functions. Without documented systems and processes, you run the risk of losing knowledge and valuable company resources.
Having documented systems and processes in place ensures your employees are working with the same information as everyone else. They don’t have to rely on their perception of how a process should operate. Systemization also prevents them from working with the instructions that are outdated, which could lead to costly errors.
Implementing systems in your business provides you the ability to expand. Systems and documented processes allow you to replicate your business in different geographic areas yourself or through franchising or licensing the rights to your business.
Builds a Valuable Asset
The day may come when you’ll be ready to sell your business. Without documented processes and systems in place, this can be extremely difficult to accomplish. Putting systems in place will help you build a valuable asset that can run without you.
Creating a systemized business that is capable of running without you is something most business owners often dream about. Systemizing a business the right way does take time. Hiring the right people to implement your systems or (better yet) have created their own, will give you the freedom to do what you do best; sales, marketing, networking, etc.
If you need help implementing your systems or hiring someone who already has systems in place, give us a call at (928) 692-3235. We help real estate professionals bridge the gap between real estate sales and marketing tasks. Or, you can complete the form below and we will set up a free Plan of Action Consultation to discuss your current needs and goals.