Be a Sculptor to Strike it Rich<\/strong><\/h2>\nAs we enter the first quarter of the year it is time to think about molding your business to run more efficiently, effectively and consistently. Don\u2019t let your business evolve haphazardly and reactively. Proactively shape it or re-shape it to improve your business for smoother operations, consistent customer satisfaction and profitable results. You must turn any chaos, confusion, and anarchy you have experienced in the past into order and discipline. It is time to standardize and document your business.<\/p>\n
Challenge your old beliefs about how your business should work. It is never too early to shape or too late to re-shape your business. It doesn\u2019t matter if your business is 20 years old, 2 years old, 2 months old or on the drawing board, start shaping the company to run without you being woven into the very fabric of the business. Design it to run without your supplying all the effort and energy. You cannot control everything, you cannot control everyone. Let go! Start behaving like a strategic business leader\/owner.
\nYou do not want to create merely a job for yourself. The ultimate goal of creating a business is to sell it one day, at the highest premium possible, to your employees, family members, or an outside buyer. You deserve an acceptable return on your investment of time, talent, and treasure.
\nNo matter what size, age or industry, every business should be prepared to be sold. Your business is no different. This \u201cstart with the end in mind\u201d strategy should help focus you on building an effective business model that doesn\u2019t have you at the center of its universe, relying on your presence, personality and perspiration for its success. Keep this thought in mind, you should not be the business and the business should not be you. This work-in-reverse approach not only maximizes your selling price, but also minimizes your hassles and headaches while you own and run the business.
\nAs stated earlier, your goal is to design or re-design your business to work without you. Your business model should be sculpted in such a way that it can be easily replicated dozens of times in cities around the country or world, requiring only your vision, not your physical presence and exertion. Whether you ever expand or not, such an ambition should help you focus on building a systems-dependent (not leader\/owner-dependent or people-dependent) business that generates repeatable performance and consistent results. You must help others get results. Without other people, you don\u2019t run a business \u2014 you work a job.<\/p>\n
What is an effective business system? It is simply an integrated web of separate processes, procedures and policies. A business system allows you to get consistent results through other people \u2013 tremendous leverage and freedom! The business system is your documented instruction manual for \u201cthis is what and how we do it\u201d at our company. Some typical operating processes are as follows:
\n\u2022 Selling
\n\u2022 Marketing
\n\u2022 Manufacturing
\n\u2022 Inventory management
\n\u2022 Order processing\/customer fulfillment
\n\u2022 Customer service
\n\u2022 Billing and accounts receivable
\n\u2022 Procurement\/accounts payable
\n\u2022 Facilities management
\n\u2022 Accounting\/finance
\n\u2022 Human resources (i.e. hiring, firing, reviewing, promoting, paying, etc.)
\n\u2022 Information systems
\n\u2022 Store opening and closing procedures
\nYour business with such fully identified and explained processes will allow your employees to deliver amazing consistency. Employee discretion is minimized. Such a system will also free you from having to touch every transaction, make every decision, answer every question and solve every problem. You can manage by exception! Such a carefully crafted enterprise will also give you breathing space to think and act like a strategic business leader\/owner as well as the time to do personal activities that matter most to you.
\nWithout such a business system in place, no one will want to pay a premium for your broken business. They would not want to buy a dysfunctional business that is solely dependent upon you for its day-to-day operations and survival. If it were obvious that you are a prisoner to your business, why would anyone want to buy into such a life sentence? They would not or would pay very little for such a systems-deficient business. Please grasp this; no one wants to buy a job, a series of headaches, or a leader\/owner-centered and dependent business.
\nTo maximize your company\u2019s eventual selling price, realize that buyers want to acquire a smoothly running, money-generating machine. Buyers want to purchase a business system that runs on near autopilot, foolproof status. They want to buy a fully documented, organized business system that gets predictable results. They want an asset that has proven processes, predictable revenue streams, and strong growth potential. They want to buy a well-designed, hassle-free, cash flowing asset.
\nThe more of a turnkey, self-managing, self-improving system you develop, the greater the value to a potential buyer. If your business runs well without you being there every day, it will be worth gold to others. And until the day you sell, don\u2019t you want to own and manage the same type of well-designed, well-orchestrated business?<\/p>\n","protected":false},"excerpt":{"rendered":"
This week’s Growth Coach blog is brought to us from guest blogger Fred Kusch. Fred is a Growth Coach franchise owner from LaCrosse, WI. He provides expert, practical counsel to organizations and audiences around the globe. He offers big-picture views of how to build morale and teams, develop people and leaders and enhance life […]<\/p>\n","protected":false},"author":4,"featured_media":142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[17],"tags":[687,703,689,708,763,944,938,784,939,820,690,692,695,1053,729,696,768,943,770,699],"class_list":["post-2070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-coaching","tag-benefits-of-business-coaching","tag-business-blog","tag-business-coach","tag-business-coaching","tag-business-coaching-advice","tag-business-coaching-client-success","tag-business-coaching-guarantee","tag-business-coaching-tips","tag-business-complexity","tag-business-development","tag-business-owner","tag-business-owner-mindset","tag-entrepreneur","tag-fred-kusch","tag-growth-coach","tag-leadership","tag-marketing","tag-positive-thinking","tag-strategic-business-owner","tag-strategic-mindset"],"yoast_head":"\n
Be a Sculptor to Strike it Rich - Growth Coach of Central Ohio North<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thegrowthcoach.com\/central-ohio-north\/be-a-sculptor-to-strike-it-rich\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Be a Sculptor to Strike it Rich - Growth Coach of Central Ohio North\" \/>\n<meta property=\"og:description\" content=\" This week’s Growth Coach blog is brought to us from guest blogger Fred Kusch. Fred is a Growth Coach franchise owner from LaCrosse, WI. He provides expert, practical counsel to organizations and audiences around the globe. 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