Is your company operating at its full potential?
Many small business owners scramble to set up their business when they first start because they have a goal of “just getting it off the ground.” This can work for a little while. Then at some point, you have to go back and look at the systems you set up. Are they more complicated than they need to be? Are they getting you the results you want?
It is possible that what worked to get your company going, may not be what you need to maintain your company. It may be worth your time to reflect on your operational strategy. Does the way you do things actually work for you? Are you happy, healthy and profitable? You can be all three with the right systems in place!
With this list, you can analyze the systems that contribute to your operational strategy.
Your Operational Strategy and Systems Checklist
- How have you set up the legal ownership of your company?
- Do you have a business plan that you love and are following?
- Do you spend time every single day/week doing something strategic to move you and your company forward towards your goals?
- Are you aware of the time spent working as an employee instead of leading?
- Do you have a “dashboard” for key results so you know what is working and what is not?
- Are you in the right facility? (This could be bricks and mortar or web site.)
- Is your business presence structured ideally for you to protect your customer service standards and reputation?
- Are you getting the right price, the right products and the best terms with your suppliers?
- What technology are you using? Does it work? Do you know how to use it?
- How much of what happens in your company is written down (in a consistent format so that the next person who has to do that task understands exactly how to do it)?
- Do you know how to fix problems using systems thinking?
- Are you still blaming yourself or your staff when things go wrong?
- Should you raise your prices?
- Do you feel like you are wasting time and resources?
- Does your research and development lead to new products and services in time to capitalize on your ideas?
- Do you know how everything works?
- Do you have a clear understanding of how everything in the company is integrated?
Try this Practical Application
The above questions can be tough for a busy small business owner. You already have so much to do.
You can create a great operational strategy by carving out one hour a day, five hours per week, to chip away at the above list. This will give you more control over how the business operates.
Personally, I love working in my business, coaching, teaching, training and building relationships with prospective clients. And at the same time, this one strategy has made the difference between having a job that helps a few small business owners to owning a business that can help hundreds of thousands of small business owners globally.
You can do it too! You are capable of creating a company that benefits you and those important to you.
Until next time, enjoy your Entrepreneurial Journey.