Are Your Business Systems Holding You Back?
If you are too busy fighting ‘fires’ or responding to various haphazard situations then chances are you need to look at your systems so you can regain control of your business and reduce stress.
For most small businesses their business systems are a rough framework of their business operations and key functions rather than a comprehensive one. This is fine as long as it is not preventing your business from growing.
A common misconception about business or management systems is that it is a form of expensive software that only big business can afford. In actual fact business systems are the procedures or processes, used to deliver your products or services to your customers. They may involve the use of computer hardware or software but it is more about streamlining those tasks that you do on a regular basis.
Developing your business systems will:
- Those businesses that have embraced business systems have more time to focus on the activities that drive their business. This may include more time to focus on the customer’s needs, expanding the business into new areas or markets, marketing, building networks and business relationships, working on team morale and productivity, the list goes on!Allow you to spend more time working on your business rather than in it
- Help eliminate time wastage and errors
- Improve productivity
- Develop a competitive advantage
- Ensure you utilise best practices
- Make your processes more efficient
- Reduced costs
- Add value to what you do
- Provide peace of mind that key tasks are being performed properly
- Is useful in identifying tasks that can be outsourced internally & externally
I often hear an objection from sole traders about this point. “I’m the only one to do the work, there is no one else, all my systems are in my head”. Business models that are based on a one-man show are difficult to sustain and just as hard to sell. Identifying the key systems and processes and then documenting these will help your business, no matter how many employees, to recognise where your resources should be utilised to get the best return on investment.
Whether you are just starting out or are an established business, your business systems are essential for your long-term sustainability, your ability to grow and will help free up your time so you can spend more time doing the things you really enjoy!
If you need assistance with your business or management systems, talk to a business consultant from Watts Price Accountants today.
Richard Kemp – Watts Price Accountants
The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.