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A Smooth (Business) Operation
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| Guest post by: Edward Abel |
Article Overview: Every business has its operations, whether they are highly organized, in disarray, or somewhere in between. Your business operations are HOW you design, produce, deliver, support, and maintain the products and services your business offers. The purpose of having business operations is to document, manage, and improve repeatable processes and systems that make your business sustainable, efficient, and profitable.
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Free Download - Are Your Goals SMART? By Edward Abel |
A Smooth (Business) Operation
Every business has its operations, whether they are highly
organized, in disarray, or somewhere in between. Your business
operations are HOW you design, produce, deliver, support, and maintain
the products and services your business offers. The purpose of having
business operations is to document, manage, and improve repeatable
processes and systems that make your business sustainable, efficient,
and profitable.
Document Your Operations:
Building your business operations is not a one-time activity. It’s a
process and an evolution. Keeping in mind that the purpose of your
business operations is to help you maintain sustainability, efficiency,
and profitability, it’s important to remember the benefits of
establishing, maintaining, and improving your business operations.
By
documenting your business operations, you will:
- Create clarity and consistency with HOW you do what you do
- Support process improvement and lead to more efficiency
- Create worthwhile systems and avoid the "winging it" mentality that is more stressful and time-consuming than you could have ever imagined
- Set you up to train your employees more easily
- Empower others to do their work, which reduces employee stress and turnover
- Make it easier to secure investors and financing
- Allow someone else to take over in the event you can't be there to do the work (e.g., vacation, illness, emergencies) or you choose not to do the work
Your policy might look like this:
Sub-Area: Financial Reports
Policy Name: Keeping financial reports up-to-date
Purpose: The purpose of this policy is to ensure that my financial reports are kept up to date
Description: I will keep track of my recurring financial tasks using a calendar or to-do list. I will enter my financial transactions into QuickBooks on a weekly basis. Then, monthly, my bookkeeper will review the transactions, balance them to my statements, and correct any mistakes that are made.
By carefully defining (and improving) your business operations, you will make your business sustainable, efficient, and profitable. Though it will take some time and effort, your energy will reap huge benefits through gain productivity. Related Articles
Article Tags: As with any profession, emailing an employee or phoning a vendor
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About the Author: Edward Abel RSS for Edward's articles - Visit Edward's website Ed Abel has invested more than three decades learning how to build a successful, thriving business. At age 24 with a $5,000 loan and the energy and passion of a young entrepreneur, Ed was ready to take on the world. And he did, only to emerge seven years later at the top of a $36 million organization with 585 employees. Inspired by the challenges that led him to success, Ed went on to build other multi-million dollar businesses, yet he missed the passion he experienced "in the trenches" of his formative years. Determined to find a way to educate and advise others in the construction and sustainability of a vital business, he founded ABEL Business Institute. Over the course of this process, he developed The SkillPreneur Business System, a systematic approach to the construction, maintenance, and growth of a business's--an approach that has become the philosophy and methodology of ABEL Business Institute. Ed is an adjunct professor of entrepreneurial studies at New York University (NYU) as well as the Director of the business division at the world class Institute for Professional Excellence in Coaching (iPEC). At iPEC, Ed directs the business division that is responsible for supporting the graduate coaches in their business development process. Click here to visit Edward's website A Smooth Business Operation What You Need to Know About Marketing Summer is EndingAre You on Target to Boost Sales Appreciating Your Team Six Steps to an Effective Business Proposal |
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