Why creating a business foundation is king and needed for long-term success
It is never too late but also never too early to start structuring your business in an efficient way.
Whether you already have a business with a team of 20+ members, or you are managing your first few employees, or you are just starting from scratch! Guidance in organizing and structuring is always beneficial at any stage.
In order to be a successful business owner, you need systems and tools in place to help run your company in a structured way. Otherwise, a point will come when working in an unorganized environment will turn so overwhelming, you will feel like you are losing (or have already lost) control.
Reason to Create a Business Foundation
Let’s throw some facts at you! Maybe this will make you understand why not having any kind of structure in place will cost you not only time but also money:
86% of employees say that one big reason for failures in the workplace is ineffective communication (Source: Salesforce)
58% say that poor management is hindering productivity (Source: Society for Human Resource Management)
A business with an average of 100 employee spends an average downtime of 17 hours in one week clarifying communication issues (this translates to an annual cost of of $528,443!!) (Source: Siemens)
Creating a Solid Business Foundation
On the higher level, focusing on these three areas:
Knowing how to manage your team effectively. Smooth team communication is priceless!
Knowing your numbers and understanding your KPIs (key performance indicators) at every given time to make the best decisions possible.
Documenting and systematizing all your workflows to keep standards high and make sure that nothing falls through the cracks.
Even though it seems like these are obvious actions to take, more often than not entrepreneurs see themselves not doing them! So the question is, why haven’t they taken the time to implement them? A main reason could be because these strategies don’t seem as urgent enough to do immediately...hence, they get put on the ‘work on later’ list. But then, the “I don’t have time for that right now” excuse may become consistent and, unfortunately, this means implementation of these strategies may be never...
BUT, let us explain what you REALLY don’t have time for:
Spending half of your day fixing problems caused by an undertrained and unorganized team...
Fearing to leave clients unsatisfied (or even lose them) because you are so overwhelmed you lost the overview of what’s going on...
And you especially don’t have time for:
Tramping through each day knowing that the whole cycle of problem, reaction, exhaustion, catch-up, frustration, and the daily nitty gritty is going to lead to something more than a burn-out, but it’s going to eventually cost you your company...
So when you say you can’t afford to give the time to building a solid, seamless, and scalable foundation the real question should be, can you afford to keep going as you currently are?
No you can’t!
We’d love to help over the next few weeks talking about the foundational topics that will allow you to transform your company into a well oiled and seamlessly running money making machine.
How do I know it’s the right time to hire?
How do I empower my team members to perform at peak performance?
How do we structure our daily work to make sure nothing falls through the cracks and we work as efficiently as possible?
How can we make sure we are on track with our goals?
How do I monitor our success?
How can I, as the business owner, make sure that I am not stuck in nitty gritty but actually work on the future vision?
All of these questions lead to a bigger question, how can I run a successful business in which everyone knows their part, their goals, is excited to do the work and I, as the CEO, get to do more than put fires out to create and execute on the future vision?
Ready for it?!
Download my FREE blueprint, CEO Secrets: How To Regain Control Of Your Business & 3X Revenue, Productivity and Time.
Within this download you will learn:
How to identify your time killing tasks that are keeping you away from being the CEO inside your business
How to take those same time killing tasks and turn them into automated and streamlined workflows
How to automate your lead generation to save you MULTIPLE hours so you have more time to spend on CLOSING those leads