3 Processes I Wish I Had Implemented Earlier When I Started My Business
After 8 years coaching business owners, and another 10 years in my previous kitchen installation business, you could say I’ve seen a lot.
We humans often learn best by making mistakes, and I’ve made quite a few of those too! The good thing about my experiences (even the bad ones) is that I’ve identified certain patterns in building a successful business.
That’s why our Opulence business coaching clients achieve rapid - and sustainable - growth within their first 12 months with us.
With that in mind, there are 3 processes that, if I were to start again from scratch, I’d implement straight away.
Do you have these 3 things set up in your business?
A process around managing cash
It took me a long time in business to understand how to read a profit and loss report, balance sheet and so on. I remember back in the day asking my accountant lots of questions!
For a long time, I had an unhealthy relationship with money. When I had it, I spent it on things I thought my business needed. When I didn’t have it, it made me feel a sense of neediness and stress.
Eventually after lots of educating myself about money, and a lot of insight gained from looking at myself from a coaching perspective, I turned this around.
I created a system for managing my money that essentially uses a series of digital buckets. The revenue from my business goes into these respective buckets as soon as it comes in. I have a bucket for tax, for payroll, for operational expenses, for investments, and for my own salary.
That way, I know all my expenses are taken care of… without even having to think about it.
A process around attracting leads
If you’re doing less than 500k pa right now, 80% of your focus should be on sales and marketing. That is, generating leads and turning them into clients.
You likely have multiple avenues for attracting leads. You may use word of mouth, social media, a sales funnel, joint ventures, referrals… you need to set up a repeatable process for funneling these leads down into becoming a client.
When you have a system set up, that’s when you can really start to understand the essential KPIs within your business. Because what gets measured, can be improved.
The more people that move through this reversed pyramid marketing structure, the more you’ll start to notice where the cracks are. Where is your process weak? Where is the opportunity to improve your success percentage in each piece of the chain?
When you start drilling down on your marketing process (and improving it piece by piece), that’s when your business will start to do some pretty exciting numbers.
A process around implementing new systems
As a business owner, it’s your job to be a visionary that leads the way for your employees. It’s not in administrative busywork! One of the biggest mistakes I see business owners making as they start to grow and scale, is creating new systems themselves.
Don’t get me wrong, your business needs systems. But you shouldn’t be the one creating them. At The Game Changers, we get our Opulence clients to create ONE system themselves: a system for creating systems.
Then they teach this system to one employee, who does 2 things… first, they use this ‘master system’ to document how to do their own job. Then, they teach this master system to others in your team, so they can do the same.
Within a short period of time, all of your staff are empowered with the knowledge to create Ops docs detailing how to do their role.
That way, when staff leave, they don’t take all of their knowledge with them. And your business runs much more seamlessly too.
How Can The Game Changers Help You Set Up Systems and Processes For Your Small Business
If you're looking for ways to improve your cash flow, implement some systems and processes that free up your time, and scale your business without the usual stress and hassle, I recommend you jump on to a call with one of my team.
Check out our case studies through Google, through YouTube, through Instagram, or Facebook, and if you want results like our clients are getting, reach out and take the first step.
Get in touch with the team for a quick 15 minute, no BS chat about your business. We’ll get to know you a bit, see if we’re a fit, and give you our honest view of whether we can help you.