The One Thing ... The Rest Of The Story
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.
Turnkey Scalable Process Improvement Process Cross Training Business Operating System
The One Thing--How It Can Shape Your Company
Our initial post entitled The One Thing introduced the concept that there is a single thing that, if you pursue it with diligence and execute it well, will result in a wide range of benefits for you and your company. Before we explore those benefits in detail, this post will describe the kind of company you will end up creating as a result of having put in place The One Thing.
Although experts can’t agree on the actual Stages of Companies/Businesses, there is ample support for using the term Third Stage to describe the kind of company we’re all trying to create. Small and large, third-stage companies have reached the point where they can largely sustain themselves. Their CEOs have put in place systems that allow them to spend more of their time on strategic matters and they have managed to strike a healthy balance with their personal and business lives. A Third Stage company has other traits as well:
Value Creation Turnkey Sustainable Scalable
Is Your Business Too Dependent On You?
I was leafing through my copy of Small Business Breakthrough the other day and I realized that, each time I turned the page, images of flailing business owners were flashing through my mind. This was especially true when I got to Rule #7: "Your Business is too Dependent on You..."
Far too many of the small business owners I've met are absolutely essential to the day-to-day, if not minute-by-minute operation of the business. They are oblivious to Rule #7 and, therefore, oblivious to that fact that they have a business that is NOT
Sustainable--things crumble when the owner isn't present to "do it the right way"
Scalable--growth creates pain, confusion and customer complaints
Saleable--who wants to buy a business that so dependent on a single person?
As the author says, being overly dependent on specific people is bad for your employees, the owner, and the business. It is bad for the employees because they become stuck in job traps that prevent them from being promoted. It is bad for ownership because it turns the employee-employer relationship upside down, preventing ownership from asserting their authority for fear of upsetting key employees who may choose to quit.
Scalable Owner Founder Dependence