This is the fourth in a series of articles on The One Thing, which we revealed to be your unique Business Operating System.
Until you put your unique business operating system in place, your business will control your life. To understand what this means, it helps to fully examine all of the benefits of a good Biz OS. Once you learn the powerful impact it can have on your business, you’ll be asking yourself why you haven’t already completed your own unique business operating system.
One of the most important benefits of your Biz OS is that it enables your business to work without you. It provides clear instructions for carrying out the business of the organization in a way that lives up to your standards. In turn, these instructions can then be used as the basis for effective delegation of tasks that are simply not the highest and best use of your time. This works even when you are outsourcing instead of adding employees. Furthermore, a properly implemented Biz OS will provide accurate and timely performance feedback on critical business metrics so that you are confident that processes are flawlessly carried out.
Worry-free delegation has the important and valuable side effect of giving you time to spend time working ON the business rather than IN the business. This may seem like a luxury but it is actually an important responsibility that too often takes a back seat to the day-to-day operation of the business. The added flexibility also allows you to spend time AWAY from the business on equally important pursuits like family, vacation, health and fitness, hobbies, etc.
An often-overlooked benefit of having a comprehensive Biz OS is that it increases the value of your company by making it more attractive to potential buyers and more attractive to potential investors. It also increases the number of potential buyers because more business buyers will be interested in a business that will not be all-consuming in order for it to be profitable and enduring.
In a similar vein, a solid Biz OS dramatically enhances succession/exit planning by clearly mapping out operations and making it easier to transition to family members, existing management or other parties.
A good business operating system facilitates Employee Engagement. It does this along several planes. First, it streamlines training of new employees. With each critical process carefully outlined with accompanying performance standards, the organization is less reliant on preexisting skills and experience. This, in turn, eases hiring of new employees and allows the organization to focus more on how well an employee will fit in with the company vision and culture and less on their unique qualifications.
Well-documented processes and metrics also simplify the task cross-training existing employees in order to create a flexible, agile organization that is responsive to whatever challenges arise. It also enables your more capable employees to take on greater responsibility. Many times we are faced with high-potential employees who are ready for greater responsibility but a more senior position does not exist. If a high-potential employee has greater bandwidth, a good Biz OS enables task shifting or the ability for them to take on additional tasks to contribute greater value and, in turn, earn higher income.
It is well known that a consistent customer experience is the cornerstone for building loyalty. Customer-oriented processes drive consistency and give employees a comprehensive play book that allows them to handle the variety of challenges that arise when dealing with customers. Because this consistency also makes it easier to do business with your company, customers and vendors alike will be saying the right things about your company.
If you’ve ever seen an effective quality management system in action, you’ll recognize that your Biz OS provides the ultimate Quality framework. By recording precise sequences, standards, and responsibilities a business operating system becomes the core of your quality management system. Further, it increases efficiency because the entire team is working from the same script. This leads to a reduction in variation which is important to cutting back on waste and reducing costs. And, what better way to eliminate errors caused by uncertainty or guesswork?
Your Biz OS provides you with a complete, turnkey system that teaches your people how to make decisions; guides smart growth; and enables you to run the organization using data instead of “gut.” In short, it’s a system for providing the transparency and accountability that will transform your business. Get started now by clicking this link.