With the right systems and processes in place you can build a business that delivers the work/life balance you set out to achieve…
September’s Food4Thought dinners were themed around systems and processes.
If you want to build a business that is saleable and scalable, or one that runs without you so you’re free to take the time out you crave, robust systems and processes should be the first step.
Around the table we discussed:
- What are the processes that can help to make your life easier as well as run your business?
- Tips and advice on how you can prioritise your time.
- The best ways to engage your staff in new processes.
- The importance of having the right team with shared values.
What business owners sometimes forget is that systems and processes run a business, but it’s people who run the systems and processes, so it’s important to have the right talent in your business.
So what do we believe are the crucial systems and processes every business needs to operate? For owner-operator businesses this was a shorter list than for the larger ones around the table, but everyone agreed that financial processes – for making payments and being paid – plus a way to keep track of cash, sales and your pipeline were business-critical.
Recommended apps were Receipt Bank and Trip Catcher we can make all of our lives easier and mean that we’re not catching up with expenses until 2am because it’s a task that keeps slipping down our ‘To do’ list.
Many business owners around the table made the point that automating financial processes isn’t only about time-saving, but having real-time financial information at your fingertips on which to base good decisions, making a business more agile in what is a fairly volatile and dynamic environment at the moment.
So how many of you have a PA or virtual PA in place? We discussed the importance of having someone on our team that could take away the day to day administrative tasks, responding to emails while we’re out busy delivering or booking appointments and managing our diaries. Sometimes we think we can’t justify the investment, but with so many virtual PAs out there you can just invest in the time that you need from them, freeing your time up to focus on your business.
Having the right systems and processes in place will enable you to step back from your business, giving you more time to spend with family which is why most of us started our own businesses in the first place.
Are you looking to build a support network that can challenge your thinking and help you to solve your business challenges? We’ll whet your appetite as well as your intellect with expert guests from the world of business and sport as well as dinner at some of the best restaurants in the city.
