Starting An Online Business & Marketing Online: Chapter 5 Business Systems & Management
In this chapter you will learn about the basics of business systems and you will gain an understanding on why you need them and the importance of management.
What is Business Systems?
Business systems are the steps you need to take in order to achieve a desired result for a customer or for the business. A systematised process means you do things exactly the same way every time meaning everything goes to plan every time. An example of a system could be how a property investor handles property leads.
Research online using desktop tools.
Compare the properties to 3 properties within the same street or within a quarter of a mile to find the end value of a property.
Analyse the deal using a calculator.
If the numbers work then call the agent to book an immediate viewing.
This sounds really simple and if you are working on your own then it may seem a bit silly that you write this step down but I highly recommend you write down the process so that you can have the business ready for the next stage where you have an employee manage the steps. It also means that you do not forget anything or get stuck for example if you cannot find a comparable property on the same street then you know to check the quarter mile radius or if you come under a heavy work load then you know the exact steps to do like a check-list. This is just one system in property investing when you have 10-30 systems to follow it makes you appreciate that you do every step so that you do not forget.This is the part where most small businesses fail it can ultimately decide if a start-up business is going to succeed or not. People who do not know much about business and decide to go at it alone and start their own company need to know that systems is the make or break of every company. Without business systems you will never be about to produce the same or better results time after time.At Plan a Link we have compiled our business systems into a spreadsheet that we call the diary. This has every upcoming task/event and all the business systems down to social media tracking, SEO tracking and customer relations. These will be available to download very soon so you have a template that you can start building your systems too.
The buck stops with you, if your team fails it’s your thought and you need to take responsibility so you can move forward and achieve the results you need to in order to make your business successful. Poor management can lead to poor results but good management and poor morale can produce the same results. There is an interesting study that asked employers and employees how they feel about specific subjects involved with their job and their importance.
Appreciation and recognition
Feeling “in on things”
Good working conditions
Sympathetic help for problems
This will open your mind so you know that what you see and your employees see is different and that interesting work and the appreciation of work is much greater than items such as good wages.
Share a common vision
When you’re starting a business and you start to recruit you are not going to be able to afford professional employees you are going to have to take people that have basic skills and nurture them into seasoned professionals. You can turn people’s basic skills and share your vision of the business and they will learn and grow with the business. They will work ten times harder to get the job completed than a professional if you share the vision correctly. Employees will always work better when they feel good about working for you and your business (“their business”). This is very important to understand it will ultimately depict your bottom line. Sharing your common vision will also build the employees involvement and make them feel a part of something bigger than just their job. They are creating the next fastest growing start up business.
Employee Involvement Tips
Encourage risk taking – This lets employees think about new ventures or directions for the business to head in and can become very profitable.
Responsibility – Give your employees responsibility so that they understand them that you trust them to achieve a specific job and that shows respect, which will be returned in favour with employee and employer relationships.
Give the employees responsibility which will make them feel the power it shows that you respect and trust them.
Plan social and athletic activities – this helps your team to build relationship and break down barriers that can be found within work communities.
Reward talent where it is due!
Always remember that great employees do not need to be managed they should be able to manage themselves so when you are recruiting keep this in mind. A tip that works really well is ask yourself if you work for this applicant if the answer is yes then you know what to do.
To do for this chapter
Start building your business system and plan how you want your business to run. Write it down so you can improve on it in when you are putting it into practice.
Start visioning your office, How is it going to look? how many employees do you want?
Research the great entrepreneurs of our time – I recommend taking a look on YouTube at Steve Jobs, Richard Branson, Donald Trump.
Recommended Books to help expand this chapter’s knowledge:
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Gary - August 22, 2018 /
Very Informative, thanks